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That's nothing for someone who makes 7 figures a year. Two kids going to $70k/year top boarding schools still leaves a ton left over after tax for saving $600k
by opportune 8y ago
That's nothing for someone who makes 7 figures a year. Two kids going to $70k/year top boarding schools still leaves a ton left over after tax for saving $600k over 18 years.
- alexhutcheson 8y agoThat's the point. They can easily afford the $140k/year in education expenses if they keep working the 7 figure job they hate, but they couldn't really afford it if they took a huge pay cut.
- opportune 8y agoAh, I get your point now. But $140k/year in education for two kids is at basically the second highest tier of education in the world (only things being higher are elite international schools or comprehensive private tutoring). Where I'm from in the US you could get the best education in the state for probably $15-18k/year/kid
- alexhutcheson 8y agoYeah I think the insane costs are a disease that mainly afflicts the major coastal metro areas. Families end up paying in some combination of high mortgages, high property taxes, direct private school tuition, or insanely long commutes. There are different choices you can make along those dimensions, but total cost is high regardless.