Middle class affording private school (Dallas, Plano: 2015, HOA fees, houses)

[M.abus]

This time of year a lot of parents are posting their children's college choices and acceptances on Facebook. I'm seeing some DISD kids going to impresssive colleges all over the country. Something to think about!

[HockDad]

Originally Posted by Ojiaka

This isn't a rant on the rich or even the shift of wealth, it's a lamentation that as a country we've forgotten that these basics should be basics. Today, when someone says they contribute to 401k, pay for school, have healthcare and a good emergency fund - we don't call them middle class - we call them rich or well off. That's just wrong.

Something needs to change in this country - retirement is now for the rich, quality education (much less college) only for the lucky or the wealthy.

Each of the items listed above (retirement, pay for school, healthcare and emergency fund) can easily be attained with only moderate success in your career (I am not putting down the following jobs, but I also don't rate them the same as a brain surgeon):

1) nurse
2) teacher
3) fireman
4) police officer
5) mailman
6) paralegal/legal assistant

Each of those jobs can easily bring in 60k (you may be working extra shifts, private parties (if a police officer), etc. Moreover, many of those careers come with a pension.

More importantly than your salary, you probably need to also marry someone else that also has a good job. Combined, two middle class careers can easily bring in 100k.

[J800]

Originally Posted by HockDad

Each of the items listed above (retirement, pay for school, healthcare and emergency fund) can easily be attained with only moderate success in your career (I am not putting down the following jobs, but I also don't rate them the same as a brain surgeon):

1) nurse
2) teacher
3) fireman
4) police officer
5) mailman
6) paralegal/legal assistant

Each of those jobs can easily bring in 60k (you may be working extra shifts, private parties (if a police officer), etc. Moreover, many of those careers come with a pension.

More importantly than your salary, you probably need to also marry someone else that also has a good job. Combined, two middle class careers can easily bring in 100k.

True. How much do police officers make? I know teachers start out at around $47K now, with a few districts paying $50K. Not bad.

[HockDad]

Originally Posted by J800

True. How much do police officers make? I know teachers start out at around $47K now, with a few districts paying $50K. Not bad.

It is not what they make when they are 25, but instead, what they are making when they are 40-50 years old. I doubt many of us expected to be middle class the day that we graduated from school, but by the time that we have young child in the house (late 30s and early 40s) we would like to be middle class or better. Also, I think if you pick some careers, like teaching, you may realistically expect to work the summers or evening jobs. My favorite high school teacher worked at JC Penneys at 1-2 nights a week and on Saturdays during the school year. I remember her telling us that it was not easy, but she got a huge discount on clothes for her kids and it made sure during the summer that she had a good job to supplement her income.

[Wittgenstein's Ghost]

Originally Posted by tatyanadesiree

I've been reading some threads about this topic, and many people are just advising to choose a school outside of the Tier I privates . Those replies didn't exactly answer the OP's question, but rather were just trying to convince the OP to forget the private route. But what if your child gets accepted to a Tier 1 25-30K a year, and that school is his or her dream school? Would you tell your child to give up his or her dream, and possibly entrance to better opportunities?

Give up the dream of private school, yes. As far as "entrance to better opportunities," I'm not sure there's actually any evidence of that.

Originally Posted by tatyanadesiree

Some families consider middle class 250-400k a year. After saving, taking jobs, and winning any FA possible, it's still hard to pay the $25K a year, sorry for the rambling ,but I'm just upset haha

And some people have their own helicopters. $250-400k per year is not the "middle class" as the term is used in popular conversation.

[Wittgenstein's Ghost]

Originally Posted by Ojiaka

However... What is seriously sad in my view is that the basics: retirement, quality education, healthcare in your old age, a small nest egg for your kids when you pass - all of these things SHOULD be middle class but aren't.

It's ridiculous that it takes an income of $200 or $300 (or as some would argue, more) to achieve these basic fundamentals. Being middle class should afford you all of the above with perhaps some sacrifice - my parents generation experienced that to a large degree - but somewhere in the last 30 years that's changed.

This isn't a rant on the rich or even the shift of wealth, it's a lamentation that as a country we've forgotten that these basics should be basics. Today, when someone says they contribute to 401k, pay for school, have healthcare and a good emergency fund - we don't call them middle class - we call them rich or well off. That's just wrong.

Something needs to change in this country - retirement is now for the rich, quality education (much less college) only for the lucky or the wealthy.

There is no reason that a family with two $50k earners can't do all of the above. Private school is not implied by the American dream. There are tons of quality public schools that are probably equally likely to get a given student into a good college.

[J800]

Originally Posted by HockDad

It is not what they make when they are 25, but instead, what they are making when they are 40-50 years old. I doubt many of us expected to be middle class the day that we graduated from school, but by the time that we have young child in the house (late 30s and early 40s) we would like to be middle class or better. Also, I think if you pick some careers, like teaching, you may realistically expect to work the summers or evening jobs. My favorite high school teacher worked at JC Penneys at 1-2 nights a week and on Saturdays during the school year. I remember her telling us that it was not easy, but she got a huge discount on clothes for her kids and it made sure during the summer that she had a good job to supplement her income.

Interesting. I have a few neighbors in education and none of them work night/weekend jobs. Most teachers spread their salary out over 12 months, instead of the optional 10 (not counting the summer) which I believe they can do and then some will work summer school for extra income if they want it.

Was she a single mother? That would make a lot more sense.

I'm just doing the math in my head, and a family with two "middle-class" earners at $45K a year (policeman, teacher, whatever..) = $90K before taxes. If they weren't attempting to live beyond their means I'd think they would be fine. Isn't the median income in Plano like $81K? I'll have to pull some data. I know the median-income doesn't tell the whole story obviously.

[bencronin04]

On top of what other's have said as well, government positions have some of the best and most affordable benefits as well. IE as teachers or school administrators in Texas you pay into TRS rather than social security. It's a state funded and run "retirement" plan that is guaranteed.

[HockDad]

Originally Posted by J800

Interesting. I have a few neighbors in education and none of them work night/weekend jobs. Most teachers spread their salary out over 12 months, instead of the optional 10 (not counting the summer) which I believe they can do and then some will work summer school for extra income if they want it.

Was she a single mother? That would make a lot more sense.

I'm just doing the math in my head, and a family with two "middle-class" earners at $45K a year (policeman, teacher, whatever..) = $90K before taxes. If they weren't attempting to live beyond their means I'd think they would be fine. Isn't the median income in Plano like $81K? I'll have to pull some data. I know the median-income doesn't tell the whole story obviously.

She had a husband and I have no idea how he was employed. She had a very bright son and she was very motivated to make sure that he had plenty of money for the best possible college. Also, I think, but I am not very sure, but by having the second job she was going to qualify for social security and teacher retirement. Plus, some people just like to work.

[bencronin04]

Originally Posted by HockDad

She had a husband and I have no idea how he was employed. She had a very bright son and she was very motivated to make sure that he had plenty of money for the best possible college. Also, I think, but I am not very sure, but by having the second job she was going to qualify for social security and teacher retirement. Plus, some people just like to work.

That is correct. When I worked for a school district I had a second job at Discount Tire. I worked every Saturday during the school year and on vacation/spring & Christmas break/summers. SS was taken out of my Discount Tire check while TRS was taken out of my schools checks.