Re: "Exceptional costs of exceptional kids" (or: blowing your retirement on a ce
I see this all the time in my upper middle-class neighborhood where parents are wasting money on instruments, voice lessons, dance lesson, etc. so that little Chad or Heather can become the next principle dancer at the Joffrey Ballet, Yo Yo Ma, etc. The reality is that making a living as a singer, instrumentalist, dancer, etc. is a literally a one-in-a-million shot, even more unlikely that playing professional sports. If you are not the best, you might as well forget it as a profession (even second best does not count).
My son plays cello and is quite good (so everyone tells me, I have a tin ear). We spent $4000 on a cello and $300/month on weekly lessons with a professional cellist (note he only makes $75/hour) and my son enjoys it. Occasionally, we splurge and his orchestra has played in China and Chicago. We are encouraging him to get a degree in a professional field, and play semi-professionally on the side if he wants to continue. I know lots of people who do this.
These parents are nuts, IMHO.
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