Quote: (12-08-2016 03:13 PM)Hell_Is_Like_Newark Wrote:
I have a son incoming (assuming nothing goes wrong), so the cost of raising a kid has been on my mind for a while now:
My main financial concern is the cost of education. The public school system here is a place my kids will never set foot in. The private schools are insanely expensive ($18k a year for pre school). Home school? Probably. My only other option is to move to an area with 'good schools'... somewhere in the suburbs. That means a crushing mortgage, a killer commute, and a wicked property tax bill.
Seriously? Pre-school, 18k a year? For a 4 year old? So they can do what, learn about colors and shapes? Have your wife buy a curriculum kit and teach them at home. Stop being ridiculous.
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Longer term worries is college costs. My income will be too high for grants and my kids, though bi-racial, neither race counts for added aid. This means I have to save a lot of $$$ for school, while still saving for my retirement. The numbers are really quite daunting.
Why are you planning on sending your kids to college? Have you looked up the price and payouts? It's a waste of money. Anyone with an IQ above 85 can be self-employed and make 30k a year easily with no skills or education. Re-think your plan.
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Health insurance costs.. even employer paid plans getting pretty damn expensive once you add 2+ kids on to the plan.
Really don't get that either. Why do you need health insurance for a kid?
I've never had health insurance all my life. If I get sick, I go to the doctor. Sure, it's 100 bucks, but you know what? I'm healthy and take care of myself, therefore doctor visits are rare.
Take the health insurance money you would be spending and put it in a health savings account (not sure if that's what it's called, but it's tax-free either way). Then when there's a medical issue, use that money.
You should re-think your entire plan. This thread is discussing people like you, hence why there's a population shortage for this demographic in the first place.