Author Topic: Each kid adds 10 years to FIRE  (Read 25419 times)

AMandM

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Re: Each kid adds 10 years to FIRE
« Reply #50 on: April 08, 2016, 11:40:28 PM »
How are you guys with large families doing?

To answer your original question, OP, we're not planning to FIRE at all.  Or maybe a better way of putting it is to say that my husband's not planning to FIRE at all and I've been FIREd all my life.  My husband loves his work and it's not something easily done without a job (university professor).  I am home with the kids, cooking and DIYing and homeschooling--in other words, doing just what I'd do if we were FI and DH had retired.

CoderNate

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Re: Each kid adds 10 years to FIRE
« Reply #51 on: April 09, 2016, 07:35:57 AM »
We spent a lot of time shopping around for daycare and ended up with about $1300 a month for our infant daughter. This is very affordable considering that they have to have one teacher per four students when they are less than 2. If you have two kids, you're effectively paying half of a persons salary, benefits, cost to upkeep the center itself, administrative costs, and hopefully some is left over as profit for the people running the center.

In my mind this kind of daycare is like sending your kid to a state school instead of a diploma mill. Sure it's more expensive, but the cost/quality ratio is best. Daycare is fully a third of our after-tax budget, as this is one area we feel it makes sense to invest in our child.

VaCPA

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Re: Each kid adds 10 years to FIRE
« Reply #52 on: April 09, 2016, 10:02:07 AM »
Dude you're paying 2500 a month for childcare. I hope they are feeding your children caviar with gold spoons. Even at the high end you should be around 400 per week. You're using your kids as a complainy pants excuse to not optimize that part of your life.

Caviar?? I think you misread my post. The $2500 is for two kids. It may be a little less, I just threw out a round number. That's pretty standard in my area. Daycare ranges from 800/mo per kid for unlicensed in-home to $2000+ if you want to get really fancy. So we're actually on the lower end. Btw daycare isn't like IRAs, you don't just pick the lowest possible cost assuming they're all identical and produce identical results.

Anyways not complaining. My kids are awesome and I knew what I was getting into. We're doing great just wanted to elicit some discussion from other people with large families about how they are doing saving for retirement while dealing w the high costs of raising kids. I'm new but I thought that was what this section of the forum was for.

yeah price = quality NOT cmon man thats like the premise of this entire site.  you can find good quality in home care on CL if you take the time to interview mulitple people and call references.  you litterally just said you could cut you spending by almost 12k per year. Yet these kids are delaying your retirement by 10 years each.  No YOU are.

Where do you live boarder42? Daycare expenses vary wildly depending upon where you live. I agree with the OP. I tried to find home care on CL and didn't get a good feeling. We went with a formal facility for part-time care, which costs more. $300 a month for 15 hours.

We have three kids and are doing just fine with retirement savings, BTW. Just maxxed out our 2016 Roths this week.

Limit your kids formal clubs and sports. That goes a long way. Most families I know do baseball, basketball, and soccer for their boys. It's both the cost and the time that it takes. We do one a year, although we're having to rethink that considering our eldest might need more physical activity.

Don't feel obligated to provide your kid with expensive experiences or vacations.

We also still have a small house, despite the fact that we have a "large" family (although not historically large). I don't know. No doubt kids cost money, but I just don't think about them as obstacles delaying our retirement. They are here. They cost money. Just like with myself, I find ways to minimize the cost of things they need and constantly evaluate what I think they "need."

i live in the midwest.  so maybe he should be looking to relocate his family if its really adding 10 years and he is paying those gross amounts for childcare.  or he just needs to stop being a complainy pants.  top of the line daycare at my work (where you're paying extra for convience) for an infant is 318 a week.  for older kids its around 200 or less.  and its all STEM focused childcare for the older kids. 

the whole premise of the post from this new guy is 99% complainypants.  you can make these statements about anything. 

"i cant retire early b/c i'm spending a billlion dollars on this healthy food i HAVE to eat and no i cant change it b/c i HAVE to eat this special diet and there is no way i can cut costs"
"i live up north where it snows so i HAVE to HAVE a large truck with mud tires to get around in the winter"

etc.

your life is choices OP is making the choice to do something and then blaming their retirement timeline on it.  Based on their childcare decisions i would guess that they have a lot more lifestyle creep in other areas.

We live near Washington DC, so yeah childcare costs are far more expensive than Oklahoma or wherever you live. I also make far more money here than I would in a lower COL area, if I could even find a similar job there. Usually when comparing things between high COL areas and low COL areas it's all relative. So yeah what I pay is pretty standard for my area. Not excessive at all

beltim

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Re: Each kid adds 10 years to FIRE
« Reply #53 on: April 09, 2016, 10:31:13 AM »
We live near Washington DC, so yeah childcare costs are far more expensive than Oklahoma or wherever you live. I also make far more money here than I would in a lower COL area, if I could even find a similar job there. Usually when comparing things between high COL areas and low COL areas it's all relative. So yeah what I pay is pretty standard for my area. Not excessive at all

Don't worry anorman, there are often threads around here where people wildly make proclamations about what one "should" spend on particular things without having the slightest clue that there are huge differences in costs for those things depending on geography (a clue is if the poster never addresses the location before denouncing someone else's spending).  This is commonly an issue in talking about home prices and health care, because of the huge differences in prices depending on location.

ender

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Re: Each kid adds 10 years to FIRE
« Reply #54 on: April 09, 2016, 10:32:58 AM »
We live near Washington DC, so yeah childcare costs are far more expensive than Oklahoma or wherever you live. I also make far more money here than I would in a lower COL area, if I could even find a similar job there. Usually when comparing things between high COL areas and low COL areas it's all relative. So yeah what I pay is pretty standard for my area. Not excessive at all

Don't worry anorman, there are often threads around here where people wildly make proclamations about what one "should" spend on particular things without having the slightest clue that there are huge differences in costs for those things depending on geography (a clue is if the poster never addresses the location before denouncing someone else's spending).  This is commonly an issue in talking about home prices and health care, because of the huge differences in prices depending on location.

Well when someone starts an intentionally provocative thread and then doesn't really answer any of the questions in the thread which would make it more reasonable what do you expect?

beltim

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Re: Each kid adds 10 years to FIRE
« Reply #55 on: April 09, 2016, 10:40:24 AM »
We live near Washington DC, so yeah childcare costs are far more expensive than Oklahoma or wherever you live. I also make far more money here than I would in a lower COL area, if I could even find a similar job there. Usually when comparing things between high COL areas and low COL areas it's all relative. So yeah what I pay is pretty standard for my area. Not excessive at all

Don't worry anorman, there are often threads around here where people wildly make proclamations about what one "should" spend on particular things without having the slightest clue that there are huge differences in costs for those things depending on geography (a clue is if the poster never addresses the location before denouncing someone else's spending).  This is commonly an issue in talking about home prices and health care, because of the huge differences in prices depending on location.

Well when someone starts an intentionally provocative thread and then doesn't really answer any of the questions in the thread which would make it more reasonable what do you expect?

What did he say that's provocative?  He said the 10 years was a joke like 5 posts in, confirming one of the first responses.  Other than that he's said kids cost money, particularly when you have to pay for daycare.  That's not exactly news, and he's not making any serious extravagant claims.

ender

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Re: Each kid adds 10 years to FIRE
« Reply #56 on: April 09, 2016, 10:48:18 AM »
What did he say that's provocative?  He said the 10 years was a joke like 5 posts in, confirming one of the first responses.  Other than that he's said kids cost money, particularly when you have to pay for daycare.  That's not exactly news, and he's not making any serious extravagant claims.

Here are a few I find a bit ridiculous:

I came up with this super complicated algorithm which approximated how long a child delays early retirement. It was immaculate unfortunately my dog ate the napkin the calculation was on before I had time to put it into an excel spreadsheet. Anyways, it basically said each kid added 10 years. Since I have 3 kids I will never retire early but I will hang around here to live vicariously through you guys.

Kids definitely put a damper on frugal living. Most of the financial blogs I read where the person is operating his financials with razor sharp efficiency doesn't involve multiple kids it seems like. Years ago I occasionally read one called the financial samurai. He had some good ideas but clearly had no kids with how much he saved and possibly not even a spouse. It's a challenge with multiple kids in the mix and we'll definitely get to retirement with a smaller nut but we will still get there. We're maxing our 401k contributions and have decent sized balances, and I'm going to try to start backdooring money into a Roth each year now. 529s could use some major love but there just isn't enough to go around right now. How are you guys with large families doing?

Well at least one person on this board has a sense of humor. Yeah the 10 years was a joke(I don't have an algorithm). The kids draining my budget is no joke however. It's not so much lavish spending, it's things like food and daycare and eventually college that are very unlavish and necessary. But hey they keep me on my toes so it's all worth it.

True, it's easy for unnecessary spending w kids. But even if you limit your spending to just necessities the cost is huge. Just child care & food(produce is expensive!) costs are staggering



It makes me wonder what the purpose of this thread is. Also, the OP hasn't seemed super interested in finding ways to improve this scenario - I still don't know what their family income is, whether they have two incomes, etc. Spending $30k a year on daycare might very well mean the second spouse's (if there even are two?) income is effectively zero. Or negative.

beltim

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Re: Each kid adds 10 years to FIRE
« Reply #57 on: April 09, 2016, 10:56:23 AM »
What did he say that's provocative?  He said the 10 years was a joke like 5 posts in, confirming one of the first responses.  Other than that he's said kids cost money, particularly when you have to pay for daycare.  That's not exactly news, and he's not making any serious extravagant claims.

Here are a few I find a bit ridiculous:

I came up with this super complicated algorithm which approximated how long a child delays early retirement. It was immaculate unfortunately my dog ate the napkin the calculation was on before I had time to put it into an excel spreadsheet. Anyways, it basically said each kid added 10 years. Since I have 3 kids I will never retire early but I will hang around here to live vicariously through you guys.

Kids definitely put a damper on frugal living. Most of the financial blogs I read where the person is operating his financials with razor sharp efficiency doesn't involve multiple kids it seems like. Years ago I occasionally read one called the financial samurai. He had some good ideas but clearly had no kids with how much he saved and possibly not even a spouse. It's a challenge with multiple kids in the mix and we'll definitely get to retirement with a smaller nut but we will still get there. We're maxing our 401k contributions and have decent sized balances, and I'm going to try to start backdooring money into a Roth each year now. 529s could use some major love but there just isn't enough to go around right now. How are you guys with large families doing?

Well at least one person on this board has a sense of humor. Yeah the 10 years was a joke(I don't have an algorithm). The kids draining my budget is no joke however. It's not so much lavish spending, it's things like food and daycare and eventually college that are very unlavish and necessary. But hey they keep me on my toes so it's all worth it.

True, it's easy for unnecessary spending w kids. But even if you limit your spending to just necessities the cost is huge. Just child care & food(produce is expensive!) costs are staggering



It makes me wonder what the purpose of this thread is. Also, the OP hasn't seemed super interested in finding ways to improve this scenario - I still don't know what their family income is, whether they have two incomes, etc. Spending $30k a year on daycare might very well mean the second spouse's (if there even are two?) income is effectively zero. Or negative.

Lots of people have said that amount of money is a good deal for where they live, and you can't deny that $30k a year is a "no joke" or "huge."

You finding a level of spending ridiculous does not mean it is provocative.  This spending is in line with what other people say is reasonable.  Your projecting that someone else's income is effectively zero is, as far as I can tell, coming completely out of the ether.

ender

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Re: Each kid adds 10 years to FIRE
« Reply #58 on: April 09, 2016, 11:02:05 AM »
Lots of people have said that amount of money is a good deal for where they live, and you can't deny that $30k a year is a "no joke" or "huge."

You finding a level of spending ridiculous does not mean it is provocative.  This spending is in line with what other people say is reasonable.  Your projecting that someone else's income is effectively zero is, as far as I can tell, coming completely out of the ether.

Sure, but if you lament something and then refuse to update your complaints with relevant details... it's hard for me to take it seriously.

Whether or not $30k a year in daycare is reasonable depends on a lot of details. If it's for a two income family where one makes $100k and the other makes $20k, it's probably not that reasonable since one spouse working has nearly a negative financial impact. If it's for a family where two spouses make $100k+ it's reasonable (but will probably not delay FIRE too much). If it's for a single parent making $50k/year it's probably not reasonable either.

The details affect reasonableness a lot. Lamenting something and not giving any indication to whether it's reasonable seems... more like someone wants to complain about something than constructively discuss it.




beltim

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Re: Each kid adds 10 years to FIRE
« Reply #59 on: April 09, 2016, 11:23:40 AM »
Lots of people have said that amount of money is a good deal for where they live, and you can't deny that $30k a year is a "no joke" or "huge."

You finding a level of spending ridiculous does not mean it is provocative.  This spending is in line with what other people say is reasonable.  Your projecting that someone else's income is effectively zero is, as far as I can tell, coming completely out of the ether.

Sure, but if you lament something and then refuse to update your complaints with relevant details... it's hard for me to take it seriously.

"Refuse to update" as in "confirmed the 10 years was a joke pretty much immediately?"

And most jokes aren't meant to be taken seriously.

Quote
Whether or not $30k a year in daycare is reasonable depends on a lot of details. If it's for a two income family where one makes $100k and the other makes $20k, it's probably not that reasonable since one spouse working has nearly a negative financial impact. If it's for a family where two spouses make $100k+ it's reasonable (but will probably not delay FIRE too much). If it's for a single parent making $50k/year it's probably not reasonable either.

Well, I could quibble with all of these, but instead I'll say: why are you assuming it's a bad decision rather than assuming it's a good one, if in fact you acknowledge there aren't sufficient details to judge?

MDM

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Re: Each kid adds 10 years to FIRE
« Reply #60 on: April 10, 2016, 12:15:03 AM »
Yes, with caveats. One being payroll taxes if you pay the kid more than a few hundred bucks. There was a thread on here about that with lots of details, perhaps in Mini Mustaches. MDM was a contributor.
Agreed on the "yes with caveats."

See http://forum.mrmoneymustache.com/mini-money-mustaches/young-child-and-roth-iras/ and follow the various links.

Tabaxus

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Re: Each kid adds 10 years to FIRE
« Reply #61 on: April 10, 2016, 08:51:19 AM »
Lots of people have said that amount of money is a good deal for where they live, and you can't deny that $30k a year is a "no joke" or "huge."

You finding a level of spending ridiculous does not mean it is provocative.  This spending is in line with what other people say is reasonable.  Your projecting that someone else's income is effectively zero is, as far as I can tell, coming completely out of the ether.

Sure, but if you lament something and then refuse to update your complaints with relevant details... it's hard for me to take it seriously.

Whether or not $30k a year in daycare is reasonable depends on a lot of details. If it's for a two income family where one makes $100k and the other makes $20k, it's probably not that reasonable since one spouse working has nearly a negative financial impact. If it's for a family where two spouses make $100k+ it's reasonable (but will probably not delay FIRE too much). If it's for a single parent making $50k/year it's probably not reasonable either.

The details affect reasonableness a lot. Lamenting something and not giving any indication to whether it's reasonable seems... more like someone wants to complain about something than constructively discuss it.

In addition to the other critiques, this post also fails to acknowledge that in many situations, walking away from the 20k gig now means walking away from it forever, and there are both monetary and non-monetary reasons not to walk away to deal with a temporary situation (the need for daycare).  Of course, the more likely scenario is $30k childcare vs. $30k-$40k gig, where there are even more scenarios where walking away doesn't make sense (without even getting into the non-monetary reasons why someone might not want to be a homemaker).

Metric Mouse

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Re: Each kid adds 10 years to FIRE
« Reply #62 on: April 10, 2016, 10:30:36 AM »
Lots of people have said that amount of money is a good deal for where they live, and you can't deny that $30k a year is a "no joke" or "huge."

You finding a level of spending ridiculous does not mean it is provocative.  This spending is in line with what other people say is reasonable.  Your projecting that someone else's income is effectively zero is, as far as I can tell, coming completely out of the ether.

Sure, but if you lament something and then refuse to update your complaints with relevant details... it's hard for me to take it seriously.

Whether or not $30k a year in daycare is reasonable depends on a lot of details. If it's for a two income family where one makes $100k and the other makes $20k, it's probably not that reasonable since one spouse working has nearly a negative financial impact. If it's for a family where two spouses make $100k+ it's reasonable (but will probably not delay FIRE too much). If it's for a single parent making $50k/year it's probably not reasonable either.

The details affect reasonableness a lot. Lamenting something and not giving any indication to whether it's reasonable seems... more like someone wants to complain about something than constructively discuss it.

In addition to the other critiques, this post also fails to acknowledge that in many situations, walking away from the 20k gig now means walking away from it forever, and there are both monetary and non-monetary reasons not to walk away to deal with a temporary situation (the need for daycare).  Of course, the more likely scenario is $30k childcare vs. $30k-$40k gig, where there are even more scenarios where walking away doesn't make sense (without even getting into the non-monetary reasons why someone might not want to be a homemaker).

I like the thought of looking at children expenses as a temporary situation.

XS brought up a point (germane to but not strictly stemming from this thread): The post also doesn't address the situation that children might be more important than FIRE. If someone feels that the best thing they could possibly do with their life is raise a child, there are few advantages to delaying this until FIRE is achieved. If kids are the best thing ever, why wait a decade or more to have them? That would be delaying a DECADE of time with your child; can't buy that back with any withdrawal rate.

(Of course there are cases where one lives somewhere dangerous or is financially incapable of supporting themselves and thus should delay the miracle of the poop monster, but these situations probably do not apply to the vast majority of persons working towards FIRE.)
« Last Edit: April 10, 2016, 10:34:42 AM by Metric Mouse »

Carrie

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Re: Each kid adds 10 years to FIRE
« Reply #63 on: April 10, 2016, 12:26:02 PM »
I'm giving up a yearly income of $55,000 - $70,000 per year to be home with three kids. So yes, I do believe retirement is delayed because of that.

We have preschool that we pay for, clothes, dentist /orthodontist, food, school fundraising & supplies. So even without day care, kids cost thousands per year.  Luckily they're cool kids.

Having me home has made frugality easier. I cook every meal, most from scratch, clean my own house, conserve gas, etc.  We don't have to worry about sick days, I can take care of household stuff & errands during the week.  Life is pretty chill not doing the daycare/commute/work 50 hour weeks thing. My kids are easy going & relaxed too.  It's working out pretty well, but if I'd kept working we'd maybe retire a little sooner but we'd all be stressed out.

peterxyz

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Re: Each kid adds 10 years to FIRE
« Reply #64 on: May 26, 2016, 04:45:25 AM »
as someone in the middle of this (two kids in childcare, high COL area, so childcare gross $4,500/month net (tax) $3,500/month - don't even mention the premium for a house in a decent school zone!) I appreciate the joke.
I feels like a massive exercise in financial gratification - offset by moments of sheer joy (and exhaustion).

The five year plan is what keeps us financially sane - when they both hit primary school, there'll be a significant improvement on that front (figuring before/after school care will run us more like gross/net $1,000/$500)

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Re: Each kid adds 10 years to FIRE
« Reply #65 on: May 26, 2016, 09:32:50 PM »
I've done this calculation for ourselves, anticipating the worst-case of extremely luxurious spending on our future kids (private school, maxing out 529, expensive extracurriculars, etc.) and it added up to 3 extra years per kid. Not too bad. Mileage will vary depending on your income. Still, I think I'll be sticking to only two kids. We'll see :)

talltexan

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Re: Each kid adds 10 years to FIRE
« Reply #66 on: May 27, 2016, 12:57:37 PM »
I look around at my daughter's daycare, and I see a lot of acura/BMW/Tahoe drivers. Big houses in nice neighborhoods. extravagant parties. Daycare costs a lot already, but the socialization with daycare types may be adding to that figure.

SimplyMarvie

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Re: Each kid adds 10 years to FIRE
« Reply #67 on: May 27, 2016, 02:11:37 PM »
We used an unlicensed facility we found on Craigslist for daycare for our two oldest when they were little. It was still freakin' expensive. I don't remember what we paid because I was a student and got a subsidy, but would have been $400 per week, per kid for full freight in 2005. By the time number 2 came along in 2007 there was no point to Mr. Marvie working. We now have the 4 year old in a part-time preschool program. We are not currently in the US, but we pay $530 per month for that in our extremely wealthy neighborhood here.

The difference in quality between the littlest's preschool program and the in-home daycares the two biggest went to is absolutely stark. Both of my elder boys went to Kindergarten not understanding basic classroom social skills -- talking, listening, sitting for circle time, etc. -- and were delayed in their use of language even though they were way ahead with reading and writing. The littlest uses SO much more language than they do (and okay, some of that is the local language but how awesome is that, that he communicates bilingually with kids from all over the world, at four?) and has the basic skills he needs for Kindergarten down. He's also happier, does art projects, sings songs, goes on field trips and has a much more structured day, which all three of them needed. It's hard with a home daycare for there to be structure and learning, because there's only one person to manage everything -- cleaning, cooking, minding the kids, teaching, etc. His preschool has a lower ratio than the home daycare, and someone else manages the infrastructure, which I think drives the quality.

It's totally a case of 'when you know better, you do better', and in-home daycare from Craisglist was what we could afford when the biggest were young. But if I had the option, I would never, ever do that... this is one place where quality is huge.

StockBeard

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Re: Each kid adds 10 years to FIRE
« Reply #68 on: June 01, 2016, 04:50:23 PM »
I'm another example, 2 kids, single income, target is to retire before age 40. I don't think my kids added 20 years to my ER target (or I would have retired before even starting to work), I assume this depends a lot on how much they add in percentage of your expenses. But yeah, in my case we're probably delayed only by 3 years "because" of the kids.

I do agree with one point from the OP though: The financial samurai blog is sometimes very judgmental on people's ability to make money, but it seems like the guy is in a situation that doesn't involve a family, which makes it easier for him to claim one should be able to hustle 3 side gigs while working on your day job ;)

Making Cookies

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Re: Each kid adds 10 years to FIRE
« Reply #69 on: June 03, 2016, 08:53:05 AM »
The cost of daycare/raising kids really impacted our young married budgets b/c we made so little money back then. Its never cost us anywhere what the media quotes though. Wouldn't change our choice to have kids.

wynr

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Re: Each kid adds 10 years to FIRE
« Reply #70 on: June 03, 2016, 01:56:06 PM »
I'm giving up a yearly income of $55,000 - $70,000 per year to be home with three kids. So yes, I do believe retirement is delayed because of that.

We have preschool that we pay for, clothes, dentist /orthodontist, food, school fundraising & supplies. So even without day care, kids cost thousands per year.  Luckily they're cool kids.

Having me home has made frugality easier. I cook every meal, most from scratch, clean my own house, conserve gas, etc.  We don't have to worry about sick days, I can take care of household stuff & errands during the week.  Life is pretty chill not doing the daycare/commute/work 50 hour weeks thing. My kids are easy going & relaxed too.  It's working out pretty well, but if I'd kept working we'd maybe retire a little sooner but we'd all be stressed out.

That is about where DW and I were about 15 years ago.  She has been back to work (part time with summers off) for amost 2 years.  I worked one extra year so that my son could go to UC Santa Cruz, so now I only have 5 weeks left to work!

MgoSam

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Re: Each kid adds 10 years to FIRE
« Reply #71 on: June 20, 2016, 07:31:52 PM »
The cost of daycare/raising kids really impacted our young married budgets b/c we made so little money back then. Its never cost us anywhere what the media quotes though. Wouldn't change our choice to have kids.

Loved your last sentence. There are things way more important than money.

MoneyCat

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Re: Each kid adds 10 years to FIRE
« Reply #72 on: June 20, 2016, 08:27:16 PM »
No problem for me. I don't have any kids. The immigrants can have the kids. Meanwhile, I think I'll have a couple of beers.

teen persuasion

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Re: Each kid adds 10 years to FIRE
« Reply #73 on: June 27, 2016, 09:37:48 PM »
No, no, no - you've got it all backward, OP.  Kids are the key to FIRE.  We've got 5 kids.  They are the reason we are frugal.

As another poster mentioned, $1k /child CTC, our state matches CTC at 33%, $4k exemption / child.  Then there's the EITC, which our state matches at 30%.  One parent stays home with the kids (I was essentially RE for nearly 20 years, but at the beginning rather than the end of my work career) so lower family income, other parent maxes 401k to increase EITC as well as save for FIRE.  Owe zero tax and use refundable credits to fund Roth IRAs (spousal for SAHM, too).  Large relative family size to low AGI = near 0 EFC for college students.

Once the youngest was in school, I finally got to start working.  It's a fun, part-time job, doesn't earn much, but I'm approaching enough to cover our expenses, especially as the nest empties out.  I figure we'll have enough in the stash to quit completely in 5 or so years, but I'm still having fun with my job.  DH will likely swap roles with me and be the SAHS at that point, but we have lots of options to consider now.  DH may swap to a fun, low paying gig instead.

 

aFrugalFather

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Re: Each kid adds 10 years to FIRE
« Reply #74 on: June 27, 2016, 09:43:51 PM »
That is about where DW and I were about 15 years ago.  She has been back to work (part time with summers off) for amost 2 years.  I worked one extra year so that my son could go to UC Santa Cruz, so now I only have 5 weeks left to work!

Go Slugs!

Making Cookies

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Re: Each kid adds 10 years to FIRE
« Reply #75 on: June 28, 2016, 10:56:39 AM »
The cost of daycare/raising kids really impacted our young married budgets b/c we made so little money back then. Its never cost us anywhere what the media quotes though. Wouldn't change our choice to have kids.

Loved your last sentence. There are things way more important than money.

Thanks... Wish the simple things in life were valued more. The simple life is cheaper.

TheGrimSqueaker

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Re: Each kid adds 10 years to FIRE
« Reply #76 on: June 28, 2016, 11:28:51 AM »
The cost of daycare/raising kids really impacted our young married budgets b/c we made so little money back then. Its never cost us anywhere what the media quotes though. Wouldn't change our choice to have kids.

Loved your last sentence. There are things way more important than money.

Thanks... Wish the simple things in life were valued more. The simple life is cheaper.

I wish I could convince my daughter of that.

MoonShadow

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Re: Each kid adds 10 years to FIRE
« Reply #77 on: June 28, 2016, 07:09:05 PM »
The cost of daycare/raising kids really impacted our young married budgets b/c we made so little money back then. Its never cost us anywhere what the media quotes though. Wouldn't change our choice to have kids.

Loved your last sentence. There are things way more important than money.

Thanks... Wish the simple things in life were valued more. The simple life is cheaper.

I wish I could convince my daughter of that.

You can't before about 25.  By 45 she will figure it out on her own.

Making Cookies

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Re: Each kid adds 10 years to FIRE
« Reply #78 on: June 29, 2016, 10:11:51 AM »
The cost of daycare/raising kids really impacted our young married budgets b/c we made so little money back then. Its never cost us anywhere what the media quotes though. Wouldn't change our choice to have kids.

Loved your last sentence. There are things way more important than money.

Thanks... Wish the simple things in life were valued more. The simple life is cheaper.

I wish I could convince my daughter of that.

You can't before about 25.  By 45 she will figure it out on her own.

I think you are right. I HOPE you are right... ;)