EJ, I meant to write $1,000 for life insurance.
And the mortgage is “light” – I figured that would offset doing the tax calculations. My point was that $150k sounds nice and rich, but isn’t by any stretch of the imagination.
DP, bungalow colonies are luxuries. Day came for those of us working is mandatory. That’s where the leftovers would go…
I personally think we have to realize that Yeshiva education is classified as a luxury. Teaching your children Torah is NOT a luxury but paying for an expensive education is.
Then you need to decide what luxury to give up – eating chicken every night vs paying tuition. Or maybe even homeschooling.
If people were required to pay 100% of tuition costs no matter what the situation, I wonder how many people would cut back on non-essentials (and go to eating rice and beans).