Anonymous
09/11/2025 14:01
Subject: Can we afford private school?
Anonymous wrote:Anonymous wrote:Can we afford private school
HHI- about $450k- stable Feds (hopefully)
No debts other than mortgage- which is about $3500
Looking into schools about $40k a year for one kid, then 2 kids in 4 years.
It seems like we can afford this? But what tools to people use to plan for things like this?
We have a bit higher income and chose private for two kids. Yes it would be nicer to have an extra 80k a year. I don’t like public even thought we have “great schools” in our area.
LOL - glad you don't "like public" and we don't have you around
Anonymous
09/11/2025 13:59
Subject: Can we afford private school?
isn't that spending about 1/3 of your after-tax income on tuition for two kids? that seems too high to me, but if you have grandparents paying for college or a big inheritance coming your way then that is very different than if you both come from more modest backgrounds. Also I think it depends on why you are doing private and if your kids needs can be met via public schools plus tutoring to fill in the gaps
Anonymous
09/11/2025 13:37
Subject: Can we afford private school?
Anonymous wrote:Can we afford private school
HHI- about $450k- stable Feds (hopefully)
No debts other than mortgage- which is about $3500
Looking into schools about $40k a year for one kid, then 2 kids in 4 years.
It seems like we can afford this? But what tools to people use to plan for things like this?
We have a bit higher income and chose private for two kids. Yes it would be nicer to have an extra 80k a year. I don’t like public even thought we have “great schools” in our area.
Anonymous
09/11/2025 13:36
Subject: Can we afford private school?
What are your reasons for picking private? How do you feel about the public school alternative? Does your kid do better in certain environments?
We have one kid in private and one in public right now.
We have one kid in private and one in public right now.
Anonymous
09/11/2025 13:34
Subject: Can we afford private school?
Anonymous wrote:Really depends on what else you spend money on. We are boring and had extra to put into private schools. But we didn't go on many extravagant vacations, didn't join a country club, didn't spend a lot on going out, no second home, college was funded by relatives, etc.
So the grandparents will cover college expenses for your children?
Anonymous
09/11/2025 13:17
Subject: Re:Can we afford private school?
Anonymous wrote:We had three in private school when our kids were in K-4 and it was costing us over $90k after tax. When one of our kids needed some special ed support they said we don't provide that here. So, we moved to a town with excellent schools and our children's needs are being met. I always went to private schools so at the beginning I thought that was the path we should take. I was so wrong. Our income was over $550k at the time.
We moved too for a similar reason but OP said two stable feds.
When we moved, my fed DH was able to transfer to a field office. We would not have moved otherwise.
Anonymous
09/11/2025 12:57
Subject: Can we afford private school?
You could make it work but it’s a poor financial decision
Anonymous
09/11/2025 12:34
Subject: Re:Can we afford private school?
We had three in private school when our kids were in K-4 and it was costing us over $90k after tax. When one of our kids needed some special ed support they said we don't provide that here. So, we moved to a town with excellent schools and our children's needs are being met. I always went to private schools so at the beginning I thought that was the path we should take. I was so wrong. Our income was over $550k at the time.
Anonymous
09/11/2025 12:32
Subject: Can we afford private school?
Isn’t it just as much about net worth/age as HHI?
If you have 3m+ already saved in early 40s for example, cash flow is still important, but not as important given gains you will be accruing on current savings.
If you have 3m+ already saved in early 40s for example, cash flow is still important, but not as important given gains you will be accruing on current savings.
Anonymous
09/11/2025 12:10
Subject: Can we afford private school?
Really depends on what else you spend money on. We are boring and had extra to put into private schools. But we didn't go on many extravagant vacations, didn't join a country club, didn't spend a lot on going out, no second home, college was funded by relatives, etc.
Anonymous
09/11/2025 11:47
Subject: Can we afford private school?
Sure! But people prioritize all kinds of things. Sensible isn’t the same for everyone.
Anonymous
09/11/2025 11:41
Subject: Can we afford private school?
Depends on how much you have in 529’s for college. If that’s not funded then, no, you can’t afford it.
Anonymous
09/11/2025 10:04
Subject: Can we afford private school?
If you have to ask...
Anonymous
09/11/2025 09:51
Subject: Can we afford private school?
Anonymous wrote:Can we afford private school
HHI- about $450k- stable Feds (hopefully)
No debts other than mortgage- which is about $3500
Looking into schools about $40k a year for one kid, then 2 kids in 4 years.
It seems like we can afford this? But what tools to people use to plan for things like this?
You should try to look at this on a monthly cash flow basis. What is your net take home minus fixed expenses? What are your normal life expenses (eating out, vacation, activities etc). And then how much is left per month? Tuition will easily be 90k for two kids by then, divided by the 9 months of school is 10k.
Anonymous
09/11/2025 09:28
Subject: Can we afford private school?
Can we afford private school
HHI- about $450k- stable Feds (hopefully)
No debts other than mortgage- which is about $3500
Looking into schools about $40k a year for one kid, then 2 kids in 4 years.
It seems like we can afford this? But what tools to people use to plan for things like this?
HHI- about $450k- stable Feds (hopefully)
No debts other than mortgage- which is about $3500
Looking into schools about $40k a year for one kid, then 2 kids in 4 years.
It seems like we can afford this? But what tools to people use to plan for things like this?