Please tell me you aren't telling a 5yo that unless she goes to Harvard, she's not going to be able to have nice things or travel?
I do tell mine that she needs to either pick a career path that supports her in the lifestyle to which she wishes to be accustomed, or a spouse who will do the same. But there's nothing magical about Harvard for getting you there. My Ivy degree got me a space in my parents' un-airconditioned attic, and an $7.50/hr job through a temp agency.
Not to mention that a kid with a stellar application still has no guarantees when it comes to the Ivies. Harvard had an 8% acceptance rate last year, and the vast majority of the 92% they didn't take were both highly qualified and completely capable of doing the work.
