What income level can you comfortably afford to send kids to private school? Good private school in my city cost like $40-50k a year with all the add on fees and stuff. With 2 kids and that is 100k a year of after tax money…. Obviously comfortable means not cutting back in other spending or saving

likefunnysmart
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There's no income level that could convince me to put my kids in private school lol. I'm not concerned with them being contact with the ~poors~ and being ~corrupted~

It'll give them some much needed perspective on the world. I don't want them bubble wrapped out of reality

likesmartfunny

This. As an international who have completed public primary & middle school in China and came to Silicon Valley for high school, I have seen too many private school kids taking way to long to realize this world is not filled with SWEs making 500k per year lol

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As a public school kid who now brings in 475K household income..you could never convince me to spend 50K a year on private school for my kids. My Big 10 college education was less than that annually 😂

likeupliftingfunnysmart

Fair enough 😅

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Depends on the quality of the public and private schools in my area. Assuming I’m at HHI > 500k I think it’s worth it for my kid if the public schools aren’t up to par. I’m not worried about quality of teacher as much as I am having a less distracting learning environment

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This is a question that should be personal to the kid. Recommend a little bit of public school for everyone.

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A3 👏👏 well said

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I went to private school and think it’s a waste of money tbh but there are some god awful public schools so I see the merit if you don’t want to move. I would just move to a location with top public schools.

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Often it is a trade off between housing cost in the good public school town and private schools fees . I would say $350k++ for household

We are at $300k HHI and plan to send our kids to the great public schools in our district. Kindergarten starts this year.

If they want to go to private high school, then I'd be fine with it if within reason. Schools that currently cost <$25k are fair game; more than that, I just can't justify it.

For reference, I went to an all boys Catholic high school and absolutely loved every moment of it.

Why not just move to the burbs where public schools are great?

Because then you live in the burbs? 🤷‍♀️

likefunny

Bruh I’m sorry that $40-$50k is going towards a Ferrari before private education when good public schools exist.

Put $1500 per month in a 529 and spend $3500 per month on a Ferrari/GT3 and you’ll see better ROI and have your kids college funded.

M6,

I wish one day you would make enough money that you would realize $50k is not that much and can afford private school and drive a ferrari!

By then you would understand there is no difference with $30M or $25M to retire after spending all the private school money.

Our HHI is $400k, which is in the top 3-5%

I hope I get on your level one day, but until then…

We are in DTX -- we have twins in EPS (Early Preschool) and it runs $30,000 total. Household income is $390k. We'd be fine financially going private, but we will probably go public since our area as great public schools. If you're East Coast, I'm going to assume a '3' needs to be in front of your income to afford the cost-pain of private school as your kids get older. If you're ATL, DTX, FL; you may be able to geta way with upper 200s. Just be smart, you got this.

Check out SoraSchools.com

I’m no accountant, but you can definitely deduct school tuition on federal taxes (see form 1098-T). 40-50k each is like crazy talk. I was homeschooled on a shoestring and had a great experience! That said, maybe consider hiring teacher/nanny to help school your kids 20 hrs or so a week? They can learn sooooo much soooo quickly just give them a chance. That said they may hate it or love it, but just a thought;)

There are two certainties in life, one is death...

A1, everyone is different.

Just because Porsche is most likely better than Toyota in terms of driving experience, luxury, brand, appearance, etc.. (sure, some people would disagree). It doesn't mean everyone who can afford one wants one due to various reasons.

😁

Absolute waste of money

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