TIMES OF ISRAEL
I can ‘do Jewish’ on just $40,000 a year
by an anonymous Jewish father
September 11, 2017

Last year, I was a 45-year-old married father of four children, a member of a large American Modern Orthodox Jewish community, and I didn’t have a penny saved in the bank. I decided to get serious about my finances and sit down with a financial planner. He told me that in order for me to be able to pay for my four children to go to college, and to have any semblance of a retirement for myself and my wife, we would need to save 50 percent of our net income for the next 20 years. We began to itemize my family’s major expenses: Day school tuition – approximately $80,000 post tax dollars a year. Currently consuming nearly 50% of our post tax annual take home pay. READ MORE

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