Quote:
Originally Posted by Matt Monson
Also, two other things in my number that might not be in others...
I have two daughters. $500k ea for college. The $100k that got me through a 1/4 century ago won’t cut it.
And racing. It is very easy to spend $1/4M a year in PCA club racing. Throw in something like 24 Hour Historics or 25 hours of thunder hill as a driver and that’s a six figure weekend.
Could I do it on less? Absolutely. But if I account for fulfilling my life goals and dreams the number is nearly twice the just get it done number.
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If you've got to budget 1/4 mil for racing alone, I can see where you'll get to the $400K number very quickly.
And your daughters must be very young for you to be budgeting 1/2 mil for each one of them for college, the biggest federally co-sponsored, unregulated, industrial rip off in the land.
Thank God I'm done with those. Writing those big checks to those schools hurt.
I made a deal with my kids. Any scholarships you get and use, I'll refund 50% of any money you save upon graduation. One of them went into NROTC at a high end college. I wrote him a big check upon graduation, and I was happy to do it. Better him than them.