Reply to Can we afford $45k/year private for 2 kids? Stats included

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Just know that you will be among the poor people at the privates on your income (anything under $500K with two full-pay tuitions).

I realize this sounds ridiculous but it really, really, really is true.  At these schools you have the financial aid families (who generally don't have a large social presence at the school as they are working, live further out, etc) and then the average incomes jumps to about $800K, easily.

Your entire social world will have more money than you do and will be living in homes, driving cars and vacationing to places that you can't afford.

I am not a materialistic person but I'm glad I didn't have to be immersed in this world for 13 years.  We switched our kids for high school and they are okay with it but it rears it's head up in big and small ways.  There are other kids who are never completely comfortable with it.

We came from public and are so incredibly glad that we still have our public school friends as they understand our world view, our budget, our upbringings, etc.  It's hard to explain fully but almost everything in life is different if you are living off $400K (which again is an incredibly good salary) or $2 million.  [/quote]

This is so true. Our HHI is $760K and we’re mid-30s. Our PITI is $5.5K (950K equity with $900K mortgage), $1.2 million between brokerage and 401Ks, grandparents created trusts for our three kids for college, two paid off newer cars, and my husband has a $5 million trust that we haven’t touched. We have one kid in private at $50K and two younger kids, one of whom is in half-day preschool, and we pay for a nanny and summer camps and activities throughout the year and we ask ourselves if we’re lighting money on fire with private and feel like we are even though our oldest child loves the school she’s at. And we are always talking about how we’re the poorest people there. When we see people driving Subarus like us we get excited. When we realize someone doesn’t like in a $4-5 million beautifully furnished mansion we get excited because we feel less alone. My daughter’s classmates went to St. Barths, Peru, Park City, and France on spring break (she is in PreK). Can you imagine paying for two private school tuitions next year and feeling so good about money that you go to Peru on an Amazon meets ancient civilizations getaway for two weeks with your two basically pre-memory children? Oh and they flew first class so the kids could have reclined seats and sleep (of course). [/quote]

The brand of the car does't matter.  Your Subaru can be be $30K or 60K.[/quote]

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