[an]

[quote=FlyerInHi]Flyer, maybe people who don’t value top schools because they know deep down that they or their kids aren’t “Ivy material.”[/quote]
Damn, you got us.

[an]

[quote=flu]cool. This time it’s different though. This time i’ll have more than 1 property i can sell.[/quote]
+1. Depends on how high it goes before it crash. I might just keep them and add more at the bottom. We’ll see.

[an]

Normal. It has been between $2100-2200 for awhile now, depending on the time of year.

[an]

What is the demographic breakdown of millionaire households in the United States?
-Virtually all are, on average, college educated
-A majority of those who are college educated did not attend an Ivy League school, though those institutions are disproportionately represented among these households
-Most are headed by men
-Most fortunes were made outside of finance, music, or movies. The idea that you have to be a singer, actor, or work on Wall Street to make it big is a lie. It seems that way because these are the people you see most often in the news.
-Asians are vastly over represented among the samples as a result of immigrant work ethic and a culture geared toward saving
-A vast majority are first generation wealth, even among the members of the billionaire club
-Almost all are married, a vast majority of whom are married to their first spouse
-Most are in their 50’s or older

[an]

[quote=nla]Ivy League schools and most private colleges (including Stanford) don’t just rely on FAFSA to calculate EFC (Expected Family Contribution). In addition to FAFSA, they use CSS Profile. FAFSA does not consider most assets and just consider AGI when calculating EFC. So most of the times FAFSA’s EFC is higher than the actual EFC from the college.

EFC calculation relies heavily on current income but also considers assets. Assets can be savings, money market, CDs, stocks, bonds, investment property equity, home equity, 529 or any other college savings, etc. The CSS profile even asks balances and current contribution to retirement accounts and current automobiles. Colleges uses these informations the way they want it to calculate your EFC.

So AN, even if you retire but your wife still works and makes about 90K a year and about 1.5 M in asset, you will still be full pay.

All colleges has an NPC calculator on their website. Here’s one for Harvard:

https://college.harvard.edu/financial-aid/net-price-calculator

HYPS are the most generous schools. Even if your HH income exceeds 225K, you might still get some grants from these schools depending on income.

The other Ivies, if you reach about 200K you are full pay.[/quote]Damn, I thought I was clever. Oh well…

[an]

[quote=flyer]You’re actually right AN, in that, although $1M is 7 figures, by today’s standards and stats, the new definition of “wealthy” starts at around $10M.[/quote]Yep, which is why I said what I said. Because I vew $10M+ is the break through # for “wealthy”. However, $1M is still quite rare, as you’ve posted before flyer. There are not that many people w/ $1M net worth.

[an]

For some reason, I keep on thinking 7 figures is $10M+. Which is why I said what I said. You’re right, there are plenty of W2-er with 7 figures. I guess that’s what happen when you go to a states school. I don’t learn how to count in term of figures :-).

[an]

So, 2 people so far with net worth in the 7 figures and it seems like both are biz owners. Any 7 figures net worth out there as a W2-er?

[an]

Look at the curve of the historical data:
http://www.inflationdata.com/inflation/inflation_articles/Education_Inflation.asp

This cannot be sustainable. I think the original assumption of 4% inflation might be too low. It went up 2.5x between 2000-2011. So, if you take that same trajectory, then Ivy tuition would be around $157k/year. So, 4 year would cost ~$628k instead of $400k. Maybe it will flatten out from here. Who knows…

The number looks even worse when you go further back as your starting point: http://www.economist.com/node/16960438

[an]

Rental income covers all the outstanding mortgage. Next would be, rental income covers all PITI+maintenance. Next would be rental income covering all PITI+maintenance+living expenses.

[an]

[quote=Hatfield]Huh? QTL and QCT are still part of the mother ship. QCT is part of the new QTI entity which operates as a wholly-owned subsidiary, and everything still trades as QCOM. I wouldn’t call any of this arms-length.[/quote]
You’re right, they’re still part of QCOM, but they’re legally separated. That’s the whole reason why the put everyone not part of QTL into QTI. My guess is that’s the first step.

[an]

[quote=Hatfield]To be fair, how much of Intel’s revenue is from licensing? I think that was always the issue with QCOM, separating QCT from the licensing arm. IIRC, it was particularly an issue during the Nokia battles and I think also with Korea.[/quote]They already did.

[an]

[quote=FlyerInHi]So you’re thinking outside the box and will find a way.

You are willing to make sacrifices/find a way/ take a different path, if your children apply, get accepted and want to go.

If a prestigious college education has value to your kids, you’re willing to support it because it has value to you.[/quote]To an extent. It all depends on their capability and the profession they want to go in. Majority of them, I would suggest to go to a states school undergrad and apply to private for grad school. If they insist, i won’t stop them, but they would have to pay difference by themselves.

[an]

[quote=bearishgurl]Uhh, the only problem I see with this idea is that you would need to quit your job at least one tax year before you file your kid’s FAFSA by January of their senior year. Meaning, quit work during their sophomore year or first semester of their junior year of HS, at the latest. At that point, you have NO IDEA if they’ll be accepted to Stanford and likely won’t find out until Feb through April of their senior year of HS.

Since Stanford only admits ~5% of all freshman applicants, I think that’s quite a gamble to take with your OWN future, AN, considering you’ll likely still be “young” when your kid(s) apply for college![/quote]It’s not a gamble if I save enough to retire by then. If I don’t, I can always start working for start ups around town and take a low pay in exchange for a lot of equity.

[an]

[quote=flu]Ok, that’s an interesting point then….

I guess the bigger question is, if cost wasn’t an issue, and your kid did get into Stanford or an Ivy League school and get into say SDSU or UCSD, would you still encourage your kid to go to SDSU or UCSD or would you encourage your kid to Stanford or an Ivy League school?

For me, if cost and my kid’s ability wasn’t an issue, it would be a no brainer, I’d encourage the former.[/quote]I say, what ever would make them happy. They’re old enough to make their decisions and they’ll will have to live with that decision. They can only blame themselves in the future. I will give them all the pros and cons that I know for all the options. I can show them the door but they have to walk through it. We just have different style of parenting. No right or wrong. I don’t have a crystal ball so I can’t be sure which would be better. Especially since I believe the students make the school and not the other way around.

I didn’t apply to any of the Ivy because I HATE living in cold area with snow. I would be miserable there and I know it. I did apply up and down the CA coast though. My parents forced me to go to the better school and I hated them for awhile for doing that.

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