Personal Finance

We are in our late 30s with a $10 million net worth - should we send our kids to private or public school?

Christy Bieber

Published: February 5, 2025 5:45 am

When you can afford to send your kids to private school, should you do so?

This is a question that a Reddit user is currently facing. The Redditor has a $10 million net worth in his late 30s and he expects to make a hefty income for many more years. His family can easily afford private school for their kids since tuition for their entire academic career would cost just a few month’s salary. However, they aren’t sure if they want to send their children to a private school for a number of reasons.

This is a personal question that parents need to think carefully about so they can make the best long-term decision for their families. 

Why the poster is torn between public and private school

Although it may seem like a no-brainer to opt for a private school when you have millions of dollars to spend, the OP sees both pros and cons to going private instead of sending his kids to a public school in Palo Alto (which he says has very good schools anyway).

The OP believes that private schools could be a good option because he worries public schools cater to the least common denominator since they have to take everyone. There may be kids there who disrupt the class, and the teacher/student ratio typically is not as good in public schools versus private schools. He and his wife both did well in school and want their kids to take the same path, and his kids may get a better education since private schools tend to be a grade-level or two ahead.

On the flip side, however, he has heard that public and private schools can have similar outcomes since parental involvement matters more than the type of school. Plus, he worries about his kids being spoiled and has concerns that his children could face mental health issues if they attend a rigorous academic school that puts a lot of pressure on them. He also believes that since he and his wife will be leaving their kids a large inheritance, it may not matter as much if they maximize their earning potential by attending a private school. 

What should the OP do?

Ultimately, there isn’t a right answer to this question. Kids can do well in public school, and kids can do well in private school, and kids can do poorly in both environments. The right choice for one child may also be different from the best choice for another. 

The OP’s best option would be to go and visit private schools in the area, to talk to parents of both public and private school students to hear about their experiences, and to consider what personalities the kids have. If he thinks the kids need the personalized one-on-one attention that a private school can offer, then they can pursue that option. If he thinks it’s more important to expose them to people from different backgrounds and with different life experiences, then public school may be the better choice.

It may also be worth looking into different kinds of private schools if the OP is concerned about his kids being subject to too much academic pressure. Some schools focus on different things and have differing foundational techniques and teaching methods that may allow his children to learn in an environment designed to foster a love of knowledge rather than a focus on getting the best grades and getting into the best colleges.

Since the OP’s children will receive an inheritance, and since money is no object, the goal should be to find a school that will lead his children on the best life path that’s likely to ensure they are productive, happy citizens — even if that doesn’t mean pursuing an ivy league degree and a FAANG job in the Bay Area.