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    1. I need new ones NeverEnoughCars's Avatar
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      06-10-2019 02:25 PM #51
      More affirmation that we are better off without kids. Our retirement savings and investments would not like the results. I would not want to change our quality of life and current % set aside for retirement just to bring a child into the current global situation.
      But if I had and extra grand or two a month I would spend it on mortgages for rental properties.
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    3. Member masa8888's Avatar
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      06-10-2019 02:27 PM #52
      Quote Originally Posted by Engineer90 View Post
      Lawd almighty

      Just reading how much y'all are paying for childcare and all makes me glad I don't have kids. Doubt I'll ever have kids.
      A big problem is that the tax code is hopelessly outdated and allows up to just $2,000 / per year for the child tax credit and roughly $1,050 per year for the dependent care tax credit (35% of up to $3,000 in daycare expenses). Meanwhile, daycare costs keep increasing as the percentage of working moms increase, and the population gravitates towards high cost of living areas.

      The people that should be having kids, such as well educated dual working professionals, are basically encouraged to postpone children until later in life or to not have them at all.

    4. Member Engineer90's Avatar
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      06-10-2019 02:29 PM #53
      Quote Originally Posted by NeverEnoughCars View Post
      More affirmation that we are better off without kids. Our retirement savings and investments would not like the results. I would not want to change our quality of life and current % set aside for retirement just to bring a child into the current global situation.
      But if I had and extra grand or two a month I would spend it on mortgages for rental properties.
      My wife and I are gonna start to put more money in our retirement account and see if we can even retire super early. We don't want kids at all, so that's a goal of ours to retire early.
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      06-10-2019 02:30 PM #54
      Quote Originally Posted by Eye Candy White View Post
      Childcare is staggering at first blush, but you are paying someone to raise your child X number of days per week.

      When you break down the numbers, it's actually quite shocking they can do it that cheaply in many cases.

      Even if you're paying $250 a week, that's still likely 50 hours of them watching your child, which is staggeringly low. You couldn't pay me $5 per hour to watch anything, especially a whining and crying child. I realize they have multiple kids per teacher to make the economics work better, but even then we're not talking about more than 5-6 kids per, which is still low to me financially for the provider (and whatever overhead they carry).
      Yea this is exactly why I don't feel too bad about childcare costs. Our daycare is really good too. I actually wouldn't mind paying a little more if it all went into the worker's pockets, but everyone would need to chip in to make a sizable difference.

      In any case, for the joy and entertainment my little potato brings me, the costs are very cheap. I still want a nicer car though

    6. Member Engineer90's Avatar
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      06-10-2019 02:33 PM #55
      Quote Originally Posted by masa8888 View Post
      A big problem is that the tax code is hopelessly outdated and allows up to just $2,000 / per year for the child tax credit and roughly $1,050 per year for the dependent care tax credit (35% of up to $3,000 in daycare expenses). Meanwhile, daycare costs keep increasing as the percentage of working moms increase, and the population gravitates towards high cost of living areas.

      The people that should be having kids, such as well educated dual working professionals, are basically encouraged to postpone children until later in life or to not have them at all.
      Very true.

      My wife and I are both working professionals (I'm an engineer and she's a health professional) and we actually make a really good living for living here in expensive NJ, but we do not want kids at all.
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    7. Member Samson's Avatar
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      06-10-2019 02:33 PM #56
      Quote Originally Posted by Eye Candy White View Post
      When you break down the numbers, it's actually quite shocking they can do it that cheaply in many cases.
      Yeah, daycare teachers are definitely not paid enough. There are two teachers per 10 kid classroom where we go, and it's $5-6/kid/hour. $50-60/hour to cover two teachers, owner profit, overhead, etc. doesn't make for very big slices. There's a $150/year supply fee that we also pay, but that's not going to do a whole lot. Turnover is pretty high in the field, and I would assume pay plays a large part. I think the average full time daycare teacher salary around here is in the mid-20k range. Most of his teachers work second jobs... after spending 10-12 hours watching a bunch of kids. I don't know how they do it.

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      06-10-2019 02:33 PM #57
      Quote Originally Posted by CTK View Post
      In any case, for the joy and entertainment my little potato brings me, the costs are very cheap. I still want a nicer car though
      Depending on how old the little potato is, maybe a nicer car would be something that could bring you both joy?

      (See what I did there? )

    9. 06-10-2019 02:37 PM #58
      Quote Originally Posted by masa8888 View Post
      The people that should be having kids, such as well educated dual working professionals, are basically encouraged to postpone children until later in life or to not have them at all.


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    10. Member Itgb's Avatar
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      06-10-2019 02:38 PM #59
      I gave up my "fun" car to get the 3-row SUV my wife wanted to haul around the kids. The favor will be returned when the finances allow for it.

      We're at $2500/month with one at preschool and the other at an in-home daycare. I'm thinking 997 or 991.
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    11. Member Sir UNBANNED_GERBIL M.B.'s Avatar
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      06-10-2019 02:38 PM #60
      I am $2000/mth for one kid. I'd use some of that cash to fix up the house a bit then ditch the ****box S6

    12. Member Engineer90's Avatar
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      06-10-2019 02:43 PM #61
      Quote Originally Posted by Sir UNBANNED_GERBIL M.B. View Post
      I am $2000/mth for one kid. I'd use some of that cash to fix up the house a bit then ditch the ****box S6
      Not even my 6 day vacation with my wife cost me that much!
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    13. Don't be me. Don't be a 'Rick' Cabin Pics's Avatar
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      06-10-2019 03:02 PM #62
      Meh, we only spend $1,000 per month on daycare (for two children), and while that's a lot of money, it's not enough to be stupid with.

      Probably throw some more cash back at the 529 and then save/invest more.
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      06-10-2019 03:31 PM #63
      Quote Originally Posted by ghost03 View Post
      Depending on how old the little potato is, maybe a nicer car would be something that could bring you both joy?

      (See what I did there? )
      We are a few years away from that. But no worries. I already have an elaborate curriculum under way. We already watch MotoGP races every now and then, and she has an above-baseline interest in anything resembling a steering wheel. We're also in the thick of NASCAR country... the race track I totalled my beloved G is about 4 miles from the house and there are plenty of events and the like there, as well as a wide range of karting tracks. I'm also going to re-do the sim racing rig over the next few months. So it will pretty much be inescapable

      But for the moment, a daddy that is happier from having something nicer in the driveway is a more selfish but still tangential benefit.

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      06-10-2019 03:33 PM #64
      Quote Originally Posted by Engineer90 View Post
      Not even my 6 day vacation with my wife cost me that much!
      Everything is on autodraft. You check cash flow once a month. Take the money out for savings before you even get to see it. Only thing I really look at closely is my credit card bill

    16. ***** (Cat) Lover Pizza Cat!!!!'s Avatar
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      06-10-2019 03:42 PM #65
      We average $1278.33 per month, based on the $295/week fee. We are extremely lucky in Northern VA, as that's dirt cheap for a good in-home daycare. At first, we were at one of the kinder-care types that was $425 per week, but they sucked and we got him out after a month. Win-win. When #2 comes around, they'll overlap with Jr1 for a little bit before he goes to a preschool for a year before kindergarten. I'm hoping to negotiate a 2 for 1 fee while that's going on, but we'll see.

      We also have put a lot of money already into his 529, so that he doesn't graduate with six figure's worth of student loan debt like I did. The SS was my present for paying that off back in 2015.

      If the daycare expenses went away right now, I could buy any car I ever wanted comfortably with the monies (no interest in new supercars). However, I would probably encourage my wife to get that Poverty-spec Gladiator, so we would have a convertible again in the fleet. Yeah, that would be a nice fleet.
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    17. Member mhjett's Avatar
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      06-10-2019 06:48 PM #66
      Quote Originally Posted by The_Real_Stack View Post
      May I suggest some ground rules?

      Here’s a reverse payment calculator. Let’s assume 2% interest and 60 months, no down payment. Let’s assume a net new car, I.e. doesn’t have to be practical, because you still have your current fleet.

      https://eaglefederal.org/resources/c.../reverse-loan/
      Given our monthly daycare bill in DC -- for one kid -- where they don't drug your kid all day -- and your ground rules, that puts me in a nicely optioned brand-new 911 GTS:


    18. Member ikonomore's Avatar
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      06-10-2019 07:15 PM #67
      Quote Originally Posted by Engineer90 View Post
      Very true.

      My wife and I are both working professionals (I'm an engineer and she's a health professional) and we actually make a really good living for living here in expensive NJ, but we do not want kids at all.
      Same for my wife and I except CT. My last cayman was an $80k car and it wasn't fun driving it because I was always worried about it.

      My current used boxster was less than half the price and I don't worry about it nearly as much. Slow car fast thing.

      I do have a plan to get a loaded up 911 Cab in a few years right before retirement though

    19. 06-10-2019 09:44 PM #68
      This is the last week of pre-K for the oldest kid. That will return $750 per month to the pot. Thanks to just paying off the Subaru, roughly $1200 is no longer going out month to month. I'll be using it to replenish the emergency fund we tapped this year. After that it'll go to savings/investments/mortgage. I could go the route of a nice car with that cash, but I'd rather pay down the house and then pick up a vacation property near the ocean. I can monetize that when not using it and it'd be a good retirement investment.

      Besides I could always treat the car bug with a cheap Miata, Mustang or something if the urge returns in force.

      I'll be paying out $350 monthly in the fall for the younger one. Thanks to my wife volunteering at a co-op this is a really cheap option for 2 days per week. She's a stay at home mom so we can make it work, especially with the older one doing kindergarten in the fall.

    20. Member Sir UNBANNED_GERBIL M.B.'s Avatar
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      06-11-2019 10:24 AM #69
      Quote Originally Posted by Engineer90 View Post
      Not even my 6 day vacation with my wife cost me that much!
      We were trying yo have a second child and failed. Had it worked out, we would be paying almost $4000 a month for 2 kids at our daycare

    21. Member masa8888's Avatar
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      06-11-2019 11:22 AM #70
      Quote Originally Posted by Sir UNBANNED_GERBIL M.B. View Post
      We were trying yo have a second child and failed. Had it worked out, we would be paying almost $4000 a month for 2 kids at our daycare
      Assuming that's Canadian, so like $3,000 USD? That's about the going rate here for a professional daycare center; i.e. $1,500 per child. A bit more when they're under 2 years old, and a bit cheaper between 3-5. Tough pill to swallow, but as was mentioned before, on a day to day basis (~$60/day) it's actually surprisingly cheap given how much work it is to take care of babies and toddlers. Hate to say it, but coming to the office is paradise compared to watching a baby all day long.

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      06-11-2019 12:59 PM #71
      Quote Originally Posted by masa8888 View Post
      Assuming that's Canadian, so like $3,000 USD? That's about the going rate here for a professional daycare center; i.e. $1,500 per child. A bit more when they're under 2 years old, and a bit cheaper between 3-5. Tough pill to swallow, but as was mentioned before, on a day to day basis (~$60/day) it's actually surprisingly cheap given how much work it is to take care of babies and toddlers. Hate to say it, but coming to the office is paradise compared to watching a baby all day long.
      I am glad there is more honesty about how draining kids can be. I love my kid but spending a whole day with her is a lot. Especially if we're holed up in the house because of the weather or whatever. She goes crazy and takes us along with her

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      06-11-2019 01:08 PM #72
      Trying to juggle maintenance of 2 10+ year old Audis while having 2 under 5 in daycare will probably put my wife into a lease and myself into a CPO Alltrack in the next year or two. We're about to cry uncle. As rewarding a package as our cars are, it's not fun living under constant anxiety whether the vehicle you rely on to keep Operation Family moving smoothly. I had a lot more patience for unique ****boxes when it was just me and I had time to and enjoyed biking to work also.

    24. ***** (Cat) Lover Pizza Cat!!!!'s Avatar
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      06-11-2019 01:10 PM #73
      Quote Originally Posted by oidoglr View Post
      had a lot more patience for unique ****boxes
      Sounds like you need a Chevy SS. When one of your unique ****boxes is reliable, it makes having the second ****box much more palatable
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    25. Member
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      06-11-2019 01:38 PM #74
      Quote Originally Posted by Pizza Cat!!!! View Post
      Sounds like you need a Chevy SS. When one of your unique ****boxes is reliable, it makes having the second ****box much more palatable
      I would love a manual SS (literally the only sedan I lust for), but I think that $20k is going to be what I can reasonably justify spending, and playing "flip flop the unique Euro sh!tbox" every 18-24 months over the past 5 years hasn't exactly put me in the equity position I'd be in had I just bought a 4runner when my daughter was born in '14.

    26. 06-11-2019 01:54 PM #75
      Quote Originally Posted by Pizza Cat!!!! View Post
      Sounds like you need a Chevy SS.


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