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How long on average are your kids in daycare?
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How long on average are your kids in daycare?
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Also, talk with your financial advisor. I’ve heard multiple financial advisors share stories of people who cannot retire (or retire at a reasonable age) because they spent $$ on private school tuition instead of retirement savings. Decide if the private school investment is worth it.
I did it, but only because my spouse is in consulting and their salaries make ours look like a joke.
Theirs paid mortgage, car, travel, bills, basically everything. Mine paid private school and nanny. When the kid aged out of needing a nanny, it was like getting a raise. When they go to college (funded 529) I’ll feel rich!
We are incredibly fortunate to have had this option. I enjoyed my career, the kid got a fantastic education, wins all around.
Lots of private schools give financial aid.
My kiddo is in private school! They offer tuition assistance at our school so it has helped a lot. We have two kids, second one is in preschool. We basically pay as much as we do for daycare
I’m in SF if this helps and we pay for an independent school. Parochial schools are more affordable
Sounds like you are in NY, private school tuition in my area is much more affordable, like $6 to $7K per year, per kid, but might not be the same type of private school that you are referring to.
You wouldn't believe what the cutoffs are for qualifying for financial aid at private schools in NYC - you can make a LOT and still be one of the lowest earning families in the place... so much banking and real estate $$
Some context: I went to boarding school and I am so grateful for my experience. I understand how privileged it is that this is one of my worries. I’m genuinely curious if there are people below c-suite who make these 50-70k tuitions work.
Yes, if it’s right for them
More than likely needs to be a duel income family to be able to afford this - especially for multiple children
Yup, we have a dual income. Both in the biz.