Reply to If private school is a financial stretch for you, has it been worth it?

Forum Index » Private & Independent Schools

Reply to "If private school is a financial stretch for you, has it been worth it? "

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous]It will be a significant hit to your future net worth.

I'm a mom of 3 kids ages 14, 19, and 22.  Our youngest did public for K-8, but is now in private for 9th.  Our other 2 kids did private K-12.

Our income was similar to yours, and we had some grandparent help with tuition.

At the risk of stating the obvious, our net worth is definitely lower than it would have been if our kids had gone to public.  Since we had 2 working parents, we figured that private school would be worth it since we did not have a SAHP to oversee everything more thoroughly than 2 working parents can do.  (Note to self:  I do hope that my 3 kids can have one SAHP if they choose to have kids.  But I digress . . . )

At your income (and with 3 kids), private school is definitely a huge hit to your future net worth.  Many people at private school are not necessarily paying tuition from their income.  Instead, they are paying tuition from (a) assets; or (b) grandparents.  They don't pay on a monthly plan, like we always have.

There was a recent thread on the Money/Finance forum about how it's totally common to have $3 million in net worth at age 55.  A surprising number of people did this on government salaries -- the key was no private school.

One idea is to try your local public school for elementary school (K-5), and then go private.  This approach is wealthy close-in suburbs, in my experience.  The elementary schools are wonderful, and then you make friends in the neighborhood, which is so beneficial.  (With my older 2 kids who went private K-12, they were a bit more lonely because they had fewer friends in the neighborhood.  Everything required a parent-arranged playdate, sometimes with someone who lived 5-10 miles away.

BTW, even if the public schools are not always great, the college placements out of public high schools can be very good.  [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics