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re: What is a good income to raise kids on?
Posted on 2/18/14 at 11:22 am to StringedInstruments
Posted on 2/18/14 at 11:22 am to StringedInstruments
quote:
It's not strange to think that two 40 year old people with career experience and college degrees are making $75k each.
It's also not the best idea in the world to wait until you are 40 to start having children.
1
Posted on 2/18/14 at 11:22 am to Ironbat31
quote:
depends on several factors:
1. cost of living for where you live
2. public schools or private
3. how many kids
4. are they girls or boys (girls are more expensive on average)
#1 matters the most IMO
Posted on 2/18/14 at 11:22 am to Ironbat31
quote:
I highly doubt all you guys make 150,000! Are you all doctors?
wtf kind of shitty doctor is making 150?
Posted on 2/18/14 at 11:22 am to Pettifogger
quote:
For 2 children I'd be shooting for 200k, honestly.
Some of you people are so out of touch with reality. It's mind blowing.
Posted on 2/18/14 at 11:22 am to Ironbat31
quote:
In my travels, Ive noticed Asian, Black, and Hispanic families are very, very frugal. A lot of white families live large.
God damnit.
Posted on 2/18/14 at 11:23 am to Ironbat31
quote:
I know this is another spinoff thread, but what is a good salary to raise 2 kids, have a nice house, and do comfortable things. 50,000? Never understood how some families have 3 kids, send them to private school, and go skiing in the Alps. Also, if your wife doesn't work, that's less income.
You're doing it backwards.
First you have to do what it takes to actually have the kid. Judging by your posts, I'll say a potential mother pulling $2-300 a night isn't going to cut it.
Posted on 2/18/14 at 11:23 am to Ironbat31
Where do you live? Makes a big difference. Frugality makes a difference too.
Posted on 2/18/14 at 11:24 am to tigerbutt
quote:
200K with 1 couldn't imagine 3.
This. Not married, but me and SO bring in about that. Some student loans, little consumer debt, and we're not rolling or anything. Don't get me wrong, we do what we want, but we have nobody to provide for and we're not swimming in cash.
Raising kids on 50k requires a lot of sacrifices (in OT terms) or a lot of debt accrual.
Posted on 2/18/14 at 11:24 am to Ironbat31
I would say about 200k is the number where you can do some nice things and also feel like you are still able to put a decent amount away to invest for retirement.
Posted on 2/18/14 at 11:24 am to Ironbat31
quote:
In my travels, Ive noticed Asian, Black, and Hispanic families are very, very frugal. A lot of white families live large.
I'm guessing you don't travel to Atlanta.
Posted on 2/18/14 at 11:25 am to LNCHBOX
quote:
Some of you people are so out of touch with reality. It's mind blowing.
It's the internet. They're just showing off how great they are.
Posted on 2/18/14 at 11:25 am to LNCHBOX
quote:
Some of you people are so out of touch with reality. It's mind blowing.
I'm not out of touch with reality, don't be stupid. I said I'd be shooting for, not "everyone who does it successfully has 200k."
But if you want to live what most of us consider upper-middle class lifestyles, and do so responsibly with children, you're not doing it on 50k.
This post was edited on 2/18/14 at 11:27 am
Posted on 2/18/14 at 11:27 am to Pettifogger
How much debt do you currently have?
That's the first question.
That's the first question.
Posted on 2/18/14 at 11:27 am to Ironbat31
So a family of two teachers shouldn't have kids then. Or what if youre a starting engieenr, and your wife wont work That's starting a family on 60,000
That's starting a family on 60,000Posted on 2/18/14 at 11:27 am to Deactived
quote:
wtf kind of shitty doctor is making 150?
Pediatricians, family practice for starters
Posted on 2/18/14 at 11:27 am to Pettifogger
Wife and I make $120k (about to be 90k-100k) when we have a baby in a few weeks and my wife goes part time. I'll report back.
Posted on 2/18/14 at 11:28 am to Ironbat31
I've come to the conclusion that these people either have terrible money management skills or they're all 13.
Posted on 2/18/14 at 11:28 am to Deactived
quote:
wtf kind of shitty doctor is making 150?
Soon to be the NobamaCare kind
Posted on 2/18/14 at 11:29 am to Titan
quote:
Pediatricians, family practice for starters
Really? My wife works in a peds office, I assumed the doc's made at least 200...
Posted on 2/18/14 at 11:29 am to Ironbat31
childcare around here can be around 40-50k a year for 1 child
so i would imagine the income would need to be larger than most areas
so i would imagine the income would need to be larger than most areas
This post was edited on 2/18/14 at 11:32 am
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