Saturday, October 01, 2005

Well Endowed

BOSTON, Massachusetts (AP) -- Harvard University's endowment has surged past the $25 billion mark, the school said Friday as it named an interim head of the successful, quasi-independent company that has helped make the university the wealthiest in the world.
I'm not in higher education, but I do have three kids that, God willing, will attend college. And when I visited a financial planner who would help ensure our kids could afford the best it was determined that if we saved half of our salaries for the next 30 years, we should emerge debt free. Given beer (technically labeled "entertainment") was crossed off the budget, I offered that perhaps ALL the kids didn't have to attend Yale, maybe they could slum it with something like Virginia. But budgeting is like going to the doctor, if you are not being honest with them, you are wasting your time and setting yourself up for long term failure.

The Net Result: I am now drinking Sam Adams and my kids will have to figure out college, trade school on their own nickel. These are difficult choices to make, but if the baby boomers have taught us anything - its look out for yourself and f*ck the others.


Mrs_Thrillhous said...

UVA is a slum. And they lost to Maryland yesterday. Go Hokies!

There are no little T's yet, but how ever many there are, they'll be going to state schools. I value the prospect of retiring someday.

Perhaps I'm just taking the easy way out: I currently cannot fathom saving $100K+ each for college. I'd rather use some of that $ to take them traveling.

InanimateCarbonRod said...

I don't need to worry about it because my kid is so smart he's going to get an academic scholarship to Harvard. Either that, or an athletic scholarship to Yale. I haven't decided yet.

Now if you'll excuse me, I have to go back to setting an example by drinking beer and watching football.