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If you spent 1MM educating your kids, for them to make 100K/yr...would u be piss
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Date: April 19th, 2018 11:37 AM Author: Nubile Theatre ed
why not just invest that money in a trust fund |
Date: April 19th, 2018 11:38 AM Author: big rehab If I was rich enough, I wouldn't care. (http://www.autoadmit.com/thread.php?thread_id=3953788&forum_id=2#35874103) |
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Date: April 19th, 2018 11:39 AM Author: Nubile Theatre assume you only have maybe 5MM net worth and at the time you made these financial decisions you only had 2MM NW (so you spent half of it educating your kids)
I would be PISSED |
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Date: April 19th, 2018 11:43 AM Author: fragrant lake people who are hurt if they're a girl and they meet an i-banker in college, it was worth it (http://www.autoadmit.com/thread.php?thread_id=3953788&forum_id=2#35874131) |
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Date: April 19th, 2018 11:44 AM Author: Nubile Theatre what if they meet a broke biglawyer with 300K student loan debt and Norwood 4 (http://www.autoadmit.com/thread.php?thread_id=3953788&forum_id=2#35874135) |
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Date: April 19th, 2018 11:47 AM Author: fragrant lake people who are hurt then they can live in sin (http://www.autoadmit.com/thread.php?thread_id=3953788&forum_id=2#35874155) |
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Date: April 19th, 2018 12:12 PM Author: Carmine market twinkling uncleanness lol at you being okay with your daughter being a used up slut for an "I-banker in college" (http://www.autoadmit.com/thread.php?thread_id=3953788&forum_id=2#35874348) |
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Date: April 19th, 2018 2:27 PM Author: fragrant lake people who are hurt lol sounds good just let them go to community college instead where they can be a used up slut for a heroin-addicted ex-con who is "bettering himself" and/or LaTavius Darnell Johnson Jr. (http://www.autoadmit.com/thread.php?thread_id=3953788&forum_id=2#35875582) |
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Date: April 19th, 2018 11:46 AM Author: Saffron principal's office parents are really risk averse. really really risk averse. you should always take more risk than your parents advise.
i will do so much to guarantee an OK life for my child. it's a very emotional decision because of the level of risk aversion parents have for their children. Not a good expected value exercise.
what if you don't spend $1M and they make 50K, or $0? what if you don't spend $2M and they make 50K, or $0?
basically if you have it and can you will spend it.
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Date: April 19th, 2018 11:47 AM Author: Nubile Theatre how does spending 1MM on private school and Ivies so their kid can major in an unemployable field like psychology relate to being risk averse
risk aversion is sending your kid to coding bootcamp for 10K and setting up a 500K trust fund at 18 so your kid can have millions by 40 |
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Date: April 19th, 2018 11:49 AM Author: Saffron principal's office it's not just money. what if kid decides to slit wrists due to unhappiness, etc. what if kid gets in with bad crowd and just becomes very prole. |
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Date: April 19th, 2018 11:50 AM Author: Nubile Theatre kids are much more likely to slit wrists due to being forced to wagecuck for GC because their dumb boomer parents blew millions on private school education instead of giving them money
just look at RSF v. wagecuck XOXO posters
being "prole" with a trust fund is better than being a working professional who wants to killself
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Date: April 19th, 2018 11:50 AM Author: Saffron principal's office *** (http://www.autoadmit.com/thread.php?thread_id=3953788&forum_id=2#35874179) |
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Date: April 19th, 2018 11:51 AM Author: Nubile Theatre (http://www.autoadmit.com/thread.php?thread_id=3953788&forum_id=2#35874183) |
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Date: April 19th, 2018 11:51 AM Author: Saffron principal's office OK I really don't think trust fund kids are much happier. Let's delete it all btw. (http://www.autoadmit.com/thread.php?thread_id=3953788&forum_id=2#35874186) |
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Date: April 19th, 2018 11:52 AM Author: Nubile Theatre lol there are like 300 threads talking about it, but ok hahaha
i think most of us would be happier with trust funds though. maybe it's because we know how terrible it is to work so we have a point of comparison whereas trust fund kids don't. |
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Date: April 19th, 2018 11:47 AM Author: Bisexual know-it-all heaven think of college as a means to become an educated starfarer warrior priest not a means of achieving a specific human capital roi (http://www.autoadmit.com/thread.php?thread_id=3953788&forum_id=2#35874161) |
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Date: April 19th, 2018 11:48 AM Author: Self-absorbed Floppy Site Factory Reset Button (http://www.autoadmit.com/thread.php?thread_id=3953788&forum_id=2#35874165) |
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Date: April 19th, 2018 11:53 AM Author: Kink-friendly comical property LOL at spending that much on your kids education. My kids are going to public school K-12 and then I am only paying for a private college if its HYP or CalTech/MIT.
So I'm only gonna spend like 500k on their education. Suckers spending a mil. |
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Date: April 19th, 2018 11:54 AM Author: Nubile Theatre What about Stanford?
Also sounds CR, although 500K is still a lot |
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Date: April 19th, 2018 11:55 AM Author: Kink-friendly comical property I'm a big proponent of HYP > Stanford. I really think that outside of the west coast, Stanford is not as big of a deal as HYP, which have supreme global prestige. I guess if the kid is really a promising programmer or something we can talk about Stanford.
But, statistically speaking, my kids are unlikely to get into any of those schools. |
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Date: April 19th, 2018 11:56 AM Author: Nubile Theatre I'm probably biased b/c on the West Coast people view Stanford as equal to Harvard and I know multiple people who chose S over H, lol.
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Date: April 19th, 2018 11:57 AM Author: Kink-friendly comical property I hate to break this to you, but in many respects the West Coast is NOT like the rest of America.
Where I come from, somebody picking Stanford over Harvard would result in audible gasps. |
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Date: April 19th, 2018 11:57 AM Author: Nubile Theatre You're right - the West Coast is a lot better in many ways (except for high COL).
I know at least 5 people who chose S over H, lol. All of them are West Coasters though and all of them are in tech. |
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Date: April 19th, 2018 12:30 PM Author: big rehab H is H of course, but S definitely has more global prestige (outside the northeastern US) than Y and P. There's a yuge gap between H and YP in this respect. (http://www.autoadmit.com/thread.php?thread_id=3953788&forum_id=2#35874464) |
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Date: April 19th, 2018 12:51 PM Author: heady cream love of her life Probably true if you think the northeastern US is anywhere but CA. (http://www.autoadmit.com/thread.php?thread_id=3953788&forum_id=2#35874604) |
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Date: April 19th, 2018 11:59 AM Author: Chestnut crusty potus I must have a $10 MM house in this hypo to pay so much in property taxes, so I probably wouldn’t care (http://www.autoadmit.com/thread.php?thread_id=3953788&forum_id=2#35874236) |
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Date: April 19th, 2018 12:10 PM Author: Ruddy fear-inspiring corn cake Parents don’t think this way. You don’t think of the money you spend on your kids as a ROI (since it’s always generally a bad one).
When the kids are younger (before college), parents spend on private school literally to make sure they’re not in a gang infested public schools (at least in urban areas).
For college, you can take the hardline and say you won’t fund a useless liberal arts degree or fund going to Pepperdine or whatever, but it’s incredibly difficult to actually control what your kids do at that point since they’re an adult. You can offer as much guidance or wisdom as you can at that point but you can’t force them to go to coding boot camp or start a business.
If a kid is willing to work out a plan with you where you give them $300k to start a business or whatever, that’s great. But a kid who is not interested in that will not go for it and instead take out loans to fund their feminazi studies degree. So do you want to watch your kid struggle financially in their 20s and 30s and maybe 40s to pay back student loans or do you just want to fund their education when you can afford it? Most parents do not want to see their kids struggle if they can help it. They want to make life easier for their kids and they want to see their kids be happy.
The goal is not for them to be successful or make a lot of money but for them to be happy. |
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Date: April 19th, 2018 12:10 PM Author: Electric Narrow-minded Institution Tattoo Yeah I would be pissed I was so stupid to spend 1MM on an (((education))). (http://www.autoadmit.com/thread.php?thread_id=3953788&forum_id=2#35874324) |
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Date: April 19th, 2018 12:15 PM Author: ruby doobsian forum So, 100k in a trust fund and then send your kids to public schools. A regular public school, not Las Virgines school district sort of public school.
How do you think they are going to look at age 18?
Pro-tip from a parent: you send your kids to private school so they don't have to sit next to kids who are abuse victims, can't speak English, violent minorities, or kids who are already doing drugs in the 4th grade. You send your girls to private school because at the public school, many of the cheerleaders have 1/2 black babies. Read |
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Date: April 19th, 2018 12:16 PM Author: Nubile Theatre I went to both private and "regular" public school in the suburbs. Public school actually gave me a better education.
Nobody is advocating sending your kid to an inner city school.
If you think most public schools in the USA are like inner city schools, then you clearly haven't lived anywhere outside of NYC or whatever East Coast shithole you came from. |
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Date: April 19th, 2018 12:28 PM Author: Ruddy fear-inspiring corn cake Then this hypo doesn’t match up with reality. You’re talking about people with $5m net worths spending $1m on each child’s education. Overwhelming majority of those people live in urban coastal cities with the high paying jobs and the shit public schools. (http://www.autoadmit.com/thread.php?thread_id=3953788&forum_id=2#35874454) |
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Date: April 19th, 2018 12:32 PM Author: big rehab (http://www.autoadmit.com/thread.php?thread_id=3953788&forum_id=2#35874470) |
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Date: April 19th, 2018 12:33 PM Author: Nubile Theatre I think there's a coastal dichotomy of where wealth is concentrated. On the East Coast, wealth seems to be concentrated in extremely urban areas with shit public schools. On the West Coast, the wealthy probably largely live in suburbs surrounding cities, where there are a lot of OK public schools. (The average Californian, who lives in the suburbs, is probably worth a few million anyway.) (http://www.autoadmit.com/thread.php?thread_id=3953788&forum_id=2#35874475) |
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Date: April 19th, 2018 12:36 PM Author: big rehab CA public high schools are mostly all shit except for hardcore Asian suburbs.
The East Coast actually does have many good suburban schools in Westchester, NJ, CT, suburban Boston and DC, etc. |
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Date: April 19th, 2018 12:37 PM Author: Nubile Theatre There's a reason why it's called Chinafornia now...
If there are good public schools available, then ljl @ paying 60K/year to send your kid to a private school. |
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Date: April 19th, 2018 12:43 PM Author: Ruddy fear-inspiring corn cake This doesn’t match reality either. People who live in the suburbs of LA send their kids to public school precisely because the public schools are good (although you’d be surprised that even a lot of those schools are terrible). It’s the people who live in LA who send their kids to private school (other than in palisades, BH, even Santa Monica high sucks now since it is 40% Mexican).
People worth “a few million” aren’t spending their entire net worth educating their children, esp when a million of that net worth is tied up in a house. They prob send their kids to Pepperdine, but they can afford an overpriced 4 year college. |
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Date: April 19th, 2018 12:47 PM Author: Nubile Theatre I was thinking more about Nor Cal. Certain areas (like Palo Alto) have great public schools and people buy property to send their kids there (granted houses probably average in the 3 to 4 million there now). SF also has some great public schools. Other areas in the South Bay have more middling schools, but are still fine. I don't think any area has shit public school these days unless you're talking about certain parts of the East Bay.
Fwiw my hypo is actually based off non-coastal people I know IRL. Boomers from flyover where houses cost like 200K-300K spending millions on educating their kids. |
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Date: April 19th, 2018 12:52 PM Author: adventurous dopamine candlestick maker But that's exactly her theory - people aren't spending the money on private schools in those areas. But that's assuming the dweebs going to places like Bellarmine, Saint Francis and Menlo have really rich parents, when many just live in Asian neighborhoods, and are willing to pay a lot so their precious Hunter or Amanda doesn't have to compete with Xiao Lin. (http://www.autoadmit.com/thread.php?thread_id=3953788&forum_id=2#35874617) |
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Date: April 19th, 2018 12:59 PM Author: Ruddy fear-inspiring corn cake People are buying $2m+ properties precisely because these houses are in good public school districts. They’re not all clamoring to spend extra money for a shit house just to spend more money on private school. People buying in Palo alto and Menlo Park have way more money and shouldn’t be considered at all since they can easily afford $1m on education for each child. (http://www.autoadmit.com/thread.php?thread_id=3953788&forum_id=2#35874674) |
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Date: April 19th, 2018 1:02 PM Author: Nubile Theatre Maybe it's a trade-off. Investing your limited savings in property that will appreciate more relative to other houses in that area (while sending your kid to a decent public school) versus buying a cheaper house in a less desirable area and blowing your limited savings on your kids' education that has a shitty ROI. (http://www.autoadmit.com/thread.php?thread_id=3953788&forum_id=2#35874702) |
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Date: April 19th, 2018 12:56 PM Author: ruby doobsian forum In LA, real estate prices are often tied to school districts, as if you live in Malibu then you can save the money you'd spend on Harvard-Westlake and send your kid to Malibu High. (http://www.autoadmit.com/thread.php?thread_id=3953788&forum_id=2#35874650) |
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Date: April 19th, 2018 12:58 PM Author: Nubile Theatre What's the reputation of Harvard-Westlake down there btw? The kids I know who went there make it seem super "prestigious" (http://www.autoadmit.com/thread.php?thread_id=3953788&forum_id=2#35874664) |
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Date: April 19th, 2018 3:57 PM Author: ruby doobsian forum My neighbor growing up went there. It's a strange place. Though, my neighbor did go on to USC law and a good career in entertainment law. (http://www.autoadmit.com/thread.php?thread_id=3953788&forum_id=2#35876131) |
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Date: April 19th, 2018 12:48 PM Author: ruby doobsian forum I went to public school in Los Angeles and it was a fantastic school, fantastic. There was an informal club at Yale for our high school as the top 4 or 5 almost always went. It was a great school.
The public schools where I live (Lowcountry of SC) are abysmal. Most have the have rates above 50% Hispanic kids (folks, they aren't sending their best) and that doesn't take into consideration the high percentage of poor blacks. I have done a lot in the DSS system, and these kids are so abused and fucked up that they are abusing other kids by the time they're in grammer school. So, my beautiful white children would be sitting next to Ja'stab n'murder who was born addicted to cocaine & can narrow down who his father may be to about a dozen and Rodregiuez who can't speak a word of English.
100k to keep them out of those schools seems a good deal. |
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Date: April 19th, 2018 12:52 PM Author: Nubile Theatre The deal is you paying 1MM out of pocket, and them making 100K.
I think I'd rather just send my kid to the inner city school tbh and just get tutors at night. |
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Date: April 19th, 2018 12:56 PM Author: Ruddy fear-inspiring corn cake You went to public school in a different time before the Mexican takeover and white flight from public schools though. (http://www.autoadmit.com/thread.php?thread_id=3953788&forum_id=2#35874647) |
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Date: April 19th, 2018 12:58 PM Author: Medicated cracking cruise ship associate mexicans aren't as big of a problem as blacks ime
had about 25% hispanic at my school, they just don't pay attention in school and concentrate themselves with manual labor, cockfights, and impregnating each other during High School
not disruptive like blacks |
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Date: April 19th, 2018 1:13 PM Author: Ruddy fear-inspiring corn cake LA is incredibly segregated for blacks and they live largely in their own communities. Blacks are only a problem in majority black areas of LA (south LA and surrounding) where the schools are like 100% black. Hispanics, otoh, live everywhere and they squeeze like a family of 10 into a 1 bedroom. A typical LA school is 50-60% Hispanic and only 10-15% black. It’s always the race that dominates as the majority that creates the most issues so there is a significant gang problem. (http://www.autoadmit.com/thread.php?thread_id=3953788&forum_id=2#35874821) |
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Date: April 19th, 2018 1:01 PM Author: ruby doobsian forum That may be the case, although my little pocket of LA is dramatically nicer and more expensive than when I was there. (http://www.autoadmit.com/thread.php?thread_id=3953788&forum_id=2#35874692) |
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Date: April 19th, 2018 12:56 PM Author: Medicated cracking cruise ship associate do you have kids? I thought you had a wife that was frigid, how the hell did that work out? (http://www.autoadmit.com/thread.php?thread_id=3953788&forum_id=2#35874651) |
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Date: April 19th, 2018 2:15 PM Author: brindle abode newt what kind of aspie thinks of their kids in terms of ROI?
If you invest tens of thousands in them playing sports (training, travel, equipment etc.) and they don't go pro, would you be mad? No! You invested that money b/c you love your kids not b/c you expect them to be wealthy.
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Date: April 19th, 2018 2:16 PM Author: Kink-friendly comical property but what if your kids would have had similar outcomes at less cost to you? because a lot of evidence suggests that's true for parents who spend a ton on their kids. (http://www.autoadmit.com/thread.php?thread_id=3953788&forum_id=2#35875519) |
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Date: April 19th, 2018 2:20 PM Author: brindle abode newt you spend money of your kids educate for the intrinsic value of them being smarter, more worldly, etc. Same goes for any of the other activities parents invest in.
If you can't afford it, then obviously don't put your kids in private k-12 but if you do then ROI shouldn't be on your mind. Also, its not your money even if they do make it rich. |
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Date: April 19th, 2018 2:26 PM Author: Nubile Theatre I guess we have different views on what the primary purpose of school is. I think the primary purpose is to make them employable.
After school activities - the purpose is to make them learn a skill and maybe socialize. That's why I'm willing to pay for some of those. They gain skills, even if they won't make money off of them.
If you think school provides other benefits (making them more "worldly" - whatever that means), then I guess you have an argument. |
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Date: April 19th, 2018 2:27 PM Author: maniacal house-broken point "what kind of aspie thinks of their kids in terms of ROI?"
Everyone thinks in terms of not wasting money. |
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Date: April 19th, 2018 2:29 PM Author: Ruddy fear-inspiring corn cake Having kids is a giant waste of money and yet most people do it so most people are fine with it. (http://www.autoadmit.com/thread.php?thread_id=3953788&forum_id=2#35875593) |
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Date: April 19th, 2018 2:30 PM Author: maniacal house-broken point It's not a waste if you value them enough. (http://www.autoadmit.com/thread.php?thread_id=3953788&forum_id=2#35875603) |
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Date: April 19th, 2018 2:34 PM Author: Ruddy fear-inspiring corn cake That’s exactly my point. The value of having kids is not measured as a ROI. It is literally a waste of money in that you will never get the money you spend on them back in any monetary sense. The value is tied to non monetary measurements of value. (http://www.autoadmit.com/thread.php?thread_id=3953788&forum_id=2#35875627) |
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Date: April 19th, 2018 2:31 PM Author: Nubile Theatre IMO he has the POV of "landed gentry". Aristocrats sent their kids to boarding school and Oxbridge and Hahvard to pursue "scholarship", not get jobs. Just LOL @ middle class wagecucks having the same mentality about education. (http://www.autoadmit.com/thread.php?thread_id=3953788&forum_id=2#35875607) |
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Date: April 19th, 2018 2:37 PM Author: Nubile Theatre (blue blood aristocrat with billions of family money) (http://www.autoadmit.com/thread.php?thread_id=3953788&forum_id=2#35875644) |
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Date: April 19th, 2018 2:27 PM Author: Bossy translucent pocket flask Would NOT regret.
Paying 1 mil for a 30 year annuity making 100k payments --> return of 9%
So if the kid works for 30 years you make 9% on your money, plus your kid has the added benefit of having went to prestigious schools.
Well worth in my opinion
edit: better question would have been to specify the salary bump he gets from going to the prestigious schools v. BIG STATE |
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Date: April 19th, 2018 2:28 PM Author: Nubile Theatre You'd probably make way more in the market with 1MM (esp if you start investing when they are kid) and you could just give the money to your kid.
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Date: April 19th, 2018 2:30 PM Author: Bossy translucent pocket flask the hypo is giving me a risk free 9%. Risk free rate is not near 9% in the market so this is a good deal.
Giving the money to the kid is similarly dumb -- not like they can do any better with the money than the market can |
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Date: April 19th, 2018 2:30 PM Author: Ruddy fear-inspiring corn cake What if your kid wants to take out 8-9% loans to get useless UG and masters degrees if you don’t fund their education? (http://www.autoadmit.com/thread.php?thread_id=3953788&forum_id=2#35875604) |
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Date: April 19th, 2018 2:32 PM Author: Bossy translucent pocket flask then it depends on the rate you're getting on the money you're investing. (http://www.autoadmit.com/thread.php?thread_id=3953788&forum_id=2#35875618) |
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Date: April 19th, 2018 2:36 PM Author: Ruddy fear-inspiring corn cake Lol you’re not going to beat 8-9% in the long term particularly after taxes. (http://www.autoadmit.com/thread.php?thread_id=3953788&forum_id=2#35875640) |
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Date: April 19th, 2018 2:38 PM Author: Bossy translucent pocket flask You're confused.
Saying that consideration of a variable is necessary to reach the correct conclusion, is not the same as arguing that a particular conclusion is true. |
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Date: April 19th, 2018 2:46 PM Author: adventurous dopamine candlestick maker The hypothetical is that he makes 100k/year total, not that he makes a 100k PREMIUM. (http://www.autoadmit.com/thread.php?thread_id=3953788&forum_id=2#35875689) |
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Date: April 19th, 2018 2:33 PM Author: Bistre laughsome crackhouse feces Yes, I'd be disappointed. Could've spent a fraction of that and started a successful business instead. (http://www.autoadmit.com/thread.php?thread_id=3953788&forum_id=2#35875619) |