Parents of ATOT: What (if any) kind of Nest Egg did you have

[Dr. Detroit]

Hell I hadn't even gone to college yet when I had my kid. Impregnated her when I was 18 and in the Army. Graduated college with my BS at 24, almost 25. Kid was 5 then.

Now almost 7yrs out of college I have her college savings & braces fund ready to go!

Would have definitely liked to set myself up before I had a kid but being we hada lot of fun struggling through life together and I'm sure it made me a helluva lot more focused while at University.

Then again, having a kid at a young age mean I will have kicked her ass out of the house and into college and relive my youth at 38! Heres to picking up on her sorority sisters:beer:

 

[tw1164]

Originally posted by: djheater


We never had a honeymoon, and have never taken a vacation that wasn't to a relatives house, because we can't affor it....

Ha! Same thing for my wire and I.

 

[GuitarDaddy]

Originally posted by: djheater
I got my girlfriend pregnant when she was 20, I was 22. I worked at a comics shop, and the week she told me when out and got two more jobs. we had about $2000 in savings by the time the baby was born, and after things settled out, we put that down on a new car.

We were very much in love, and still love each other very much, neither of us are materialists, so that helps, because money is still quite tight 9 years later.

We now have three children (and a dog), own our own home, and still drive crappy cars

We never had a honeymoon, and have never taken a vacation that wasn't to a relatives house, because we can't affor it.... that's something for you to consider, I know how much you both like to travel.

From reading iamwiz82's posts, it sounds as though the idea of children is unsettling, and he would like to be as prepared as possible, which is an admirable thought. Being financially secure is like chasing the sun, the target is always moving over the horizon.

Have kids as young as you're able, you'll enjoy them more, and longer.

:thumbsup:

Best post of the thread!


If you could calculate the true cost of having and raising a child, most people would either run away screaming or keep putting it off indefinately.

But, on the flip side it is also impossible to convey the magnitude of the positives. It is such a fullfilling and profoundly rewarding experience that it completely eclipses any previous accomplishments in your life. And as you grow older you come to realize that it is the most important contribution you can make in this world, and all that really matters in life.

 

[Lola]

Originally posted by: GuitarDaddy

Originally posted by: djheater
I got my girlfriend pregnant when she was 20, I was 22. I worked at a comics shop, and the week she told me when out and got two more jobs. we had about $2000 in savings by the time the baby was born, and after things settled out, we put that down on a new car.

We were very much in love, and still love each other very much, neither of us are materialists, so that helps, because money is still quite tight 9 years later.

We now have three children (and a dog), own our own home, and still drive crappy cars

We never had a honeymoon, and have never taken a vacation that wasn't to a relatives house, because we can't affor it.... that's something for you to consider, I know how much you both like to travel.

From reading iamwiz82's posts, it sounds as though the idea of children is unsettling, and he would like to be as prepared as possible, which is an admirable thought. Being financially secure is like chasing the sun, the target is always moving over the horizon.

Have kids as young as you're able, you'll enjoy them more, and longer.

:thumbsup:

Best post of the thread!


If you could calculate the true cost of having and raising a child, most people would either run away screaming or keep putting it off indefinately.

But, on the flip side it is also impossible to convey the magnitude of the positives. It is such a fullfilling and profoundly rewarding experience that it completely eclipses any previous accomplishments in your life. And as you grow older you come to realize that it is the most important contribution you can make in this world, and all that really matters in life.

Thank you so much.

 

[Geekbabe]

Originally posted by: iamwiz82

Originally posted by: MercenaryForHire

Originally posted by: LolaWiz
but the situation i/we are in is a bit odd as i am givng myself a time limit.

ALERT - BIOLOGICAL CLOCK DETECTED

- M4H

No, she wants to be pregnant in the summer so she can wear "cute" clothes. :roll:

Trust me on this,she does NOT want to be huge in summer.The best way is to plan a baby to arrive in March or at the latest,April,you're huge during the winter months and have enough time after baby to get your weight down for the summer months after baby arrives.

 

[preslove]

Originally posted by: iamwiz82

Originally posted by: MercenaryForHire

Originally posted by: LolaWiz
but the situation i/we are in is a bit odd as i am givng myself a time limit.

ALERT - BIOLOGICAL CLOCK DETECTED

- M4H

No, she wants to be pregnant in the summer so she can wear "cute" clothes. :roll:

Oh yeah?

Originally posted by: LolaWiz

Originally posted by: MercenaryForHire

Originally posted by: LolaWiz
but the situation i/we are in is a bit odd as i am givng myself a time limit.

ALERT - BIOLOGICAL CLOCK DETECTED

- M4H

PWNED!!!!

 

[blackdogdeek]

Originally posted by: Geekbabe

Trust me on this,she does NOT want to be huge in summer.The best way is to plan a baby to arrive in March or at the latest,April,you're huge during the winter months and have enough time after baby to get your weight down for the summer months after baby arrives.

these are wise words. being pregnant in the summer is unpleasant.

we liked the baby being born at the beginning or before the summer. that way we didn't have to worry about the baby not being warm enough and it is also VERY nice being able to take outdoor walks (especially for those afternoon naps).

 

[Lola]

Originally posted by: blackdogdeek

Originally posted by: Geekbabe

Trust me on this,she does NOT want to be huge in summer.The best way is to plan a baby to arrive in March or at the latest,April,you're huge during the winter months and have enough time after baby to get your weight down for the summer months after baby arrives.

these are wise words. being pregnant in the summer is unpleasant.

we liked the baby being born at the beginning or before the summer. that way we didn't have to worry about the baby not being warm enough and it is also VERY nice being able to take outdoor walks (especially for those afternoon naps).

That is what i want... either to have the baby in the spring/early summer or late summer/early fall.

 

[Ramma2]

Have kids as young as you're able, you'll enjoy them more, and longer.

Exactly. The longer you wait, the less time your kids will have with you and you will have less time with them.

 

[HeroOfPellinor]

Originally posted by: LolaWiz

Originally posted by: blackdogdeek

Originally posted by: Geekbabe

Trust me on this,she does NOT want to be huge in summer.The best way is to plan a baby to arrive in March or at the latest,April,you're huge during the winter months and have enough time after baby to get your weight down for the summer months after baby arrives.

these are wise words. being pregnant in the summer is unpleasant.

we liked the baby being born at the beginning or before the summer. that way we didn't have to worry about the baby not being warm enough and it is also VERY nice being able to take outdoor walks (especially for those afternoon naps).

That is what i want... either to have the baby in the spring/early summer or late summer/early fall.

Well consider flu season. You won't be able to take any medication if you get a bad cold in Winter.

 

[Chunkee]

good lord...what a bunch of hoeey.

if you can take care of them and want one, then have them...

jeebers...

children are not stock options or home improvement plans.

might want to get a reality check first before having them...

babysit for an entire week and see what you think

jC

 

[mugs]

Originally posted by: iamwiz82
I guess it would have been helpful to mention that we'd like to continue our lifestyle as well. Lola wants her kids to swim in the ocean in Hawaii before they can walk.

If you bring a kid to Hawaii when it's less than a year old you better bring a nanny or it'll be the worst vacation ever.

Edit: My answer to the question -
My wife and I don't have kids, but we are definitely planning for the situation financially. We don't want her to have to have a traditional full-time job until our kids are in school, so she is trying to build a career as a wedding photographer on the side. In the meantime we're saving as much as possible so that when the time comes we'll be able to afford to live on my salary alone.

 

[iamwiz82]

Originally posted by: Chunkee
good lord...what a bunch of hoeey.

if you can take care of them and want one, then have them...

jeebers...

children are not stock options or home improvement plans.

might want to get a reality check first before having them...

babysit for an entire week and see what you think

jC

?

So having money saved up is a bad thing to you? I would rather provide more than just the minimum for a child if I were to have one. As Descartes said, I want to be able to provide more than just the basics.

 

[Mill]

We plan to be DINKS until we are about 29 or so (we are 24 now). I think 5 years of savings -- along with my house (I have a very small mortgage, and my equity is over 80% of the cost) being very low cost, and having a trust and both of us working will allow us to save at least 100k in addition to my prior assets before we are 29. In reality, I'd like to fully fund our 401k and retirement, not touch my trust, and save 150k+ for child-rearing/ourselves in the next 5 years. We will both have bachelors in competitive fields, and I will be getting my masters or JD. I think we will be able to pull it off.

We have really disciplined our spending, and are actually going to save for a year or two BEFORE we have our honeymoon. We both have traveled all over the world before we met, so we are going to save up for something special. I feel very secure knowing I already have close to a million in assets, and we can save instead of spend until we retire. The only bills we should have in one year is electric, gas, a small mortgage (we are talking 750 a month), insurance, some taxes, entertainment, food, and airline tickets. We will have the house paid off about the time we have kids, and its equity should put us well over the price of the house within the next few years. Finally, we will have no car payments (my final car is paid off in 12 months), as the Mercedes and Mustang are already paid for.

There is NOTHING wrong with saving to make sure you can continue your lifestyle. By all means -- raise your child with as much travel and diversity as you can afford, and don't crimp your lifestyle if you don't have to. Good luck!