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Yes, private school is not a guaranteed financial return on investment and more about giving your child an educational experience tailored to how you/they want it. The reality is many privately educated people I know are set to inherit £5m from their parents regardless so the mediocre Deloitte salary doesn’t really matter much anyway.
Could you explain to me which job allows me to not have to deal with horrible people or people I dislike in the corporate world?
I went to both private and public schools, and you have a different experience in private school, and the one I remember the most was that so many of the kids felt entitled, and at public school, it was just about how you acted and what you wanted to learn. My kids had a nanny, but went to public school. I think the best of both worlds. Our kids learned German and French from the nanny and English from us. Oh, and our nanny was WAY cheaper than private school for 3.
Rising Star
How did you get to £5m? What assumptions are you making?
Also, it’s not all about the money. You may be denying them a wonderful education. That is a big thing to miss.
Rising Star
OP: I don’t think that attack on SD was classy, nor based on fact.
I do think you should reflect on how much private school may have benefitted you, or how much worse your local state school would have been. Note, even if the private school had been suboptimal, it is much easier to keep changing till you get a good one. Transferring within state system is much harder so you really have to get lucky with your first one.
Best of luck with it all. It is a personal choice and it is good to see parents wealth planning for their kids (mine have a junior ISA too but somewhat more modest)
Thoughts are you should work more so that you can provide them cash + private school
It’s a joke. I don’t really get the point of your question. First, I don’t think your calculations are correct, don’t take into account inflation or tax. Second, if you think not investing in private education is the better choice, then just do that? Third, don’t really understand what kind of return financial return you would want from private education. Even if they land a “high paying” job, they would still just be stuck working a job.
Private school.
Not only is the experience far, far better, but when they make that £5m themselves they'll feel much better about it.
And with Reeves's VAT decreasing the amount of kids going to private school you'll be putting them in an even more elite group.
Great studies on the best school is usually the one closest to your home, not the private one they had to get the school bus to. I think your kid would prefer the 5 mil instead… even a 4 year old would make the right decision in this case
Didn’t say anything about being special. Point is that people get skilled for whatever trade they do at an earlier stage rather than on the job (training of course continues on the job) . You are highlighting a specific example in a state in the US. Look at NY and it wouldn’t happen. Not really sure what your point is basically. Anyways have a good day.