Not having kids was the best financial decision I ever made

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills

Not having kids was the best financial decision I ever made

Postby McCharley » Sat Feb 09, 2013 2:56 pm

My friends who have children are all getting sucked dry by them, whatever their income level. It seems like those who make a lot more money do things like send their kids to private schools. And most of the couples I know with kids have one person who is underemployed. I know more than one person who pretty much breaks even working after factoring in day care, but they just want to stay employed. (Or staying home with Junior is not as engaging as working -- many parents have told me that. :D )

I don't mean this as a slam against having kids at all, but I have noticed that this decision has very much impacted me financially. Most people I know who have carefully considered whether to have children (as I did, years ago) have given economics some consideration, but the cost of kids is vastly underestimated. :moneybag
McCharley
 
Posts: 132
Joined: 12 Apr 2011

Re: Not having kids was the best financial decision I ever m

Postby chaz » Sat Feb 09, 2013 2:58 pm

Lucky your parents had a child.
Chaz | | “Money is better than poverty, if only for financial reasons." Woody Allen | | http://www.bogleheads.org/wiki/index.php/Main_Page
chaz
 
Posts: 12604
Joined: 27 Feb 2007

Re: Not having kids was the best financial decision I ever m

Postby xpy1999 » Sat Feb 09, 2013 2:59 pm

All other factors aside, raising kids is not a good investment financially.
xpy1999
 
Posts: 4
Joined: 4 Feb 2013

Re: Not having kids was the best financial decision I ever m

Postby WendyW » Sat Feb 09, 2013 3:01 pm

Good financial decision, but a bad life decision. Kids aren't intended to be a profit-making scheme.
WendyW
 
Posts: 338
Joined: 8 Dec 2012

Re: Not having kids was the best financial decision I ever m

Postby momar » Sat Feb 09, 2013 3:01 pm

I wonder, when you are 60, if that 7th BMW will bring as much satisfaction as watching the Thanksgiving day games with your kids and grandkids.
"Index funds have a place in your portfolio, but you'll never beat the index with them." - Words of wisdom from a Fidelity rep
User avatar
momar
 
Posts: 1359
Joined: 13 Nov 2011

Re: Not having kids was the best financial decision I ever m

Postby JoeMatye » Sat Feb 09, 2013 3:02 pm

Or maybe not!
JoeMatye
 
Posts: 47
Joined: 3 Nov 2007

Re: Not having kids was the best financial decision I ever m

Postby pennstater2005 » Sat Feb 09, 2013 3:02 pm

Congratulations?
"The lack of money is the root of all evil." Mark Twain |
User avatar
pennstater2005
 
Posts: 926
Joined: 11 Apr 2012
Location: In front of a computer.

Re: Not having kids was the best financial decision I ever m

Postby livesoft » Sat Feb 09, 2013 3:05 pm

We found kids (we have 2) to be incredibly inexpensive and no impact on our early retirement, but apparently we are not normal.
It's all about short-term opportunistic rebalancing due to a short-term change in one's asset allocation, uh, I mean opportunistic rebalancing, uh I mean rebalancing, uh I mean market timing.
livesoft
 
Posts: 30810
Joined: 1 Mar 2007

Re: Not having kids was the best financial decision I ever m

Postby 3CT_Paddler » Sat Feb 09, 2013 3:06 pm

Choosing to have kids is not a financial decision... its a personal one. Not everybody is up for the cost of parenting. And it will cost time, money, freedom and at times, your sanity.

But for me, the joy and fulfillment our little 9 month old has brough me in her short time far exceeds in value any achievement or expensive toy. But that is my own personal experience.
User avatar
3CT_Paddler
 
Posts: 2905
Joined: 4 Feb 2009
Location: Marietta, GA

Re: Not having kids was the best financial decision I ever m

Postby SSSS » Sat Feb 09, 2013 3:10 pm

Let's guilt-trip people who don't want to have children into having them anyway... surely only good things could result from such an endeavor.
User avatar
SSSS
 
Posts: 1846
Joined: 18 Jun 2010

Re: Not having kids was the best financial decision I ever m

Postby thomasbayarea » Sat Feb 09, 2013 3:13 pm

The best financial decision you made might also be the worst "life decision" you make.

There is a reason why a billion people worldwide have kids.
thomasbayarea
 
Posts: 245
Joined: 29 Feb 2012

Re: Not having kids was the best financial decision I ever m

Postby travellight » Sat Feb 09, 2013 3:14 pm

It is one of the worst financial decisions I have made, but also possibly the best life decision I have made. Funny how the two can be incongruous. Not that those who don't want kids should have them; I am just surprised at how great it has been, but I think I really lucked out.
travellight
 
Posts: 1819
Joined: 12 Aug 2008
Location: San Diego

Re: Not having kids was the best financial decision I ever m

Postby travellight » Sat Feb 09, 2013 3:14 pm

Ya definitely never know; it is a bit of a roll of the dice.
travellight
 
Posts: 1819
Joined: 12 Aug 2008
Location: San Diego

Re: Not having kids was the best financial decision I ever m

Postby monkey_business » Sat Feb 09, 2013 3:18 pm

3CT_Paddler wrote:Choosing to have kids is not a financial decision... its a personal one.


It's not a financial decision if you have the finances...
User avatar
monkey_business
 
Posts: 527
Joined: 21 Jan 2010

Re: Not having kids was the best financial decision I ever m

Postby Jeff7 » Sat Feb 09, 2013 3:24 pm

Many people want kids, some don't. Each person evaluates costs and returns, both financial and emotional, differently. That's about all there is to it.
Jeff7
 
Posts: 228
Joined: 24 Nov 2012

Re: Not having kids was the best financial decision I ever m

Postby wbond » Sat Feb 09, 2013 3:35 pm

I assume that the OP carefully crafted his message intentionally to elicit the above responses. And in doing so he is highlighting the looming demographic crisis in the developed countries brought on by the crash in fertility rates coupled with advancing life expectancies and Entitlement programs for the elderly. As such, this is entirely political and, and hence off-limits. Don't bite.

Or perhaps he's planning to write a parody of Adam Smith: The Wealth of Shakers.
User avatar
wbond
 
Posts: 1017
Joined: 10 Dec 2008

Re: Not having kids was the best financial decision I ever m

Postby LadyGeek » Sat Feb 09, 2013 3:37 pm

This thread has run its course and is locked. See: Forum Policy

Locked Topics

Moderators or site admins may lock a topic (set it so no more replies may be added) when a violation of posting policy has occurred. Occasionally, even if there are no overt violations of posting policy, a topic (or thread) will reach a point where the information content of the discussion has been essentially exhausted and further replies are much more likely to cause distress to the community than add anything of value.

Topics are locked to give everyone a chance to cool down. Thus if a topic is locked, please do not start up another thread to continue the discussion, at least right away. Such follow-on threads may be deleted without warning.
To some, the glass is half full. To others, the glass is half empty. To an engineer, it's twice the size it needs to be.
User avatar
LadyGeek
Site Admin
 
Posts: 16039
Joined: 20 Dec 2008
Location: Philadelphia


Return to Personal Finance (Not Investing)

Who is online

Users browsing this forum: Beck49, jfn111, meowcat, rkhusky, southerndoc, sscritic, ww340 and 65 guests