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re: Wife quit her professional medical job when we decided to have a kid
Posted on 1/5/17 at 2:55 pm to Masterag
Posted on 1/5/17 at 2:55 pm to Masterag
quote:
Well they could at the time, then some unforeseen circumstances cost them their livelihood so they had to start over.
So then they didn't go broke because they paid for their kid's degree.
1
Posted on 1/5/17 at 2:57 pm to BluegrassBelle
quote:
So then they didn't go broke because they paid for their kid's degree.
Correct. But if they hadn't they'd have an extra 150k in savings
Posted on 1/5/17 at 3:00 pm to BluegrassBelle
quote:
Just because you quit work to raise your child, doesn't mean you'll always stay home as a stay at home Mom. You should be happy that your daughter is in a situation where she can put aside her career long enough to raise her children herself instead of depending on a daycare to do so.
FWIW, I know a lot of women right now in multiple professions that are taking time off from their profession to raise their kids because of the cost of daycare. A good daycare can be the equivalent of a rent payment.
You are right about the cost of daycare and there is a threshold that has to be met for justification. When both kids were in daycare, the yearly cost of that was more than my salary when I just got out of college back in the day
. If you are going on 3+ kids a stay at home parent becomes much more viable to run the ship possibly. With that being said, any parent making at least double the yearly daycare costs should keep their job and not go the stay at home route. Kids cost a lot of money and the more you save will pay dividends for life's unexpected surprises.
I seen the effect many times of when the sole breadwinner loses their job and that impact destroys the perfect world they thought they had. Going from 2 salaries to 1 is one thing, going from 1 salary to no income is another.
Posted on 1/5/17 at 3:00 pm to Masterag
quote:
Correct. But if they hadn't they'd have an extra 150k in savings
Maybe, maybe not.
The fact that they didn't go broke because of paying for their kid's school takes away from your whole "they should have to do it themselves" rant though.
I don't disagree that we need to have realistic conversations with our kids about what they're costing when it comes to college and what they'll get in return. I wouldn't pay for my kid to go to Georgetown to be a teacher when they could go on a full ride to a public university that better suits their needs.
Posted on 1/5/17 at 3:06 pm to BluegrassBelle
When our kid gets here in April, her college will be covered already.
The first half of that sentence still scares me.
The first half of that sentence still scares me.
Posted on 1/5/17 at 3:08 pm to Masterag
quote:
Simple solution. Don't pay for your kids' school.
My parents paid for the first 2 years and I paid for my last 2 years. I would do the same for them if they are worthy of higher education.
Since my wife and I both work, we have the means to save money with little financial impact
.Posted on 1/5/17 at 3:09 pm to DarthRebel
quote:
With that being said, any parent making at least double the yearly daycare costs should keep their job and not go the stay at home route. Kids cost a lot of money and the more you save will pay dividends for life's unexpected surprises.
I seen the effect many times of when the sole breadwinner loses their job and that impact destroys the perfect world they thought they had. Going from 2 salaries to 1 is one thing, going from 1 salary to no income is another.
Eh, we'll have to agree to disagree on this one. Developmental psychology will tell you that kids who are raised until school age by a parent in the home is likely to be better prepared for school, more well adjusted emotionally, etc. And if you live in a city where daycares are likely not monitored or evaluated as they should be, then it can be a crap shoot putting your kids in one.
As far as the scenario mentioned, I've seen that as well. And typically, in a functioning relationship, both parents pick up that slack by working.
Posted on 1/5/17 at 3:12 pm to Rebelgator
quote:
When our kid gets here in April, her college will be covered already.
The first half of that sentence still scares me.
Congrats (to TBird as well, I just happened to see that)! And if you're not scared then you're not normal.
Just from general conversations, especially with our parents wanting to contribute to something like that, I imagine any future kiddos (not on the way yet
) we have will be in a similar situation. Of course there's that motherly part of me that hopes they're smart enough to get the school to foot the bill. Posted on 1/5/17 at 3:15 pm to BluegrassBelle
Thanks. That's actually the first time I've said anything about it on here.
Posted on 1/5/17 at 3:28 pm to Rebelgator
quote:Congrats on taking another opportunity to tell us about your money
When our kid gets here in April, her college will be covered already.
quote:Too bad you can't just make more by yourself
Since my wife and I both work, we have the means to save money with little financial impact .
This post was edited on 1/5/17 at 3:30 pm
Posted on 1/5/17 at 3:31 pm to genro
That reminds me, traded the BMW in.
Posted on 1/5/17 at 3:33 pm to Rebelgator
I'm sure you got a good APR on the Rover
Posted on 1/5/17 at 3:37 pm to genro
I mean .9% wasn't bad. The fact it's paid off is even better.
Although I don't recall mentioning buying my Range on here. So, it's a bit odd you know of it.
Although I don't recall mentioning buying my Range on here. So, it's a bit odd you know of it.
This post was edited on 1/5/17 at 3:48 pm
Posted on 1/5/17 at 3:58 pm to Rebelgator
quote:
Rebelgator
Congrats, man!
We're due mid-June. Also our anniversary month. Month before our birthdays.
Gonna be a fun summer
Posted on 1/5/17 at 4:01 pm to Rebelgator
quote:;)
Although I don't recall mentioning buying my Range on here. So, it's a bit odd you know of it.
Posted on 1/5/17 at 4:04 pm to TbirdSpur2010
April here.
Genro follows me on twitter apparently
Genro follows me on twitter apparently
Posted on 1/5/17 at 4:06 pm to Rebelgator
quote:lol no.
Genro follows me on twitter apparently
Posted on 1/5/17 at 4:09 pm to genro
Okay, then either you were guessing or.....
Posted on 1/5/17 at 4:10 pm to DarthRebel
quote:
Not really. Just take emotion out of it and it is pretty logical.
No, not at all. Belle made some great points about life changing. If something happens and your daughter needs to join the work force again then you are going to be glad she has that degree. Stop being so narrow minded, life changes for many very quickly.
Posted on 1/5/17 at 4:10 pm to Rebelgator
You're a cliché
BMW and Rover are the 2 quintessential new money, tons of credit card debt, douchebag 100k salary baller vehicles
BMW and Rover are the 2 quintessential new money, tons of credit card debt, douchebag 100k salary baller vehicles
This post was edited on 1/5/17 at 4:12 pm
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