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Welcome to this session of grand rounds, a collection of posts I have discovered in the blogosphere and have found of interest and hope you do too.
This offering of Grand Rounds looks at articles from around the web that deal with the costs of having kids.
One of the most incredible days in my life was when I became a father (October 28, 2005).
When I first saw those eyes look at me I was hooked.
To make matters worse it is common knowledge that daughters can pretty much have their fathers wrapped around their fingers and my circumstance was no exception.
Raising any child, but especially a child of a high earner, can certainly put a huge drain on your bank account, but even so I feel it is worth every penny.
As a physician I have the means and the desire to give my daughter a comfortable life.
There is a fine line between providing this life and spoiling her, and I admit I sometimes (some say often) cross it.
Married to Doctors goes in to depth about this dilemma high net worth individuals face in, “Are We Raising Spoiled Kids?”
We all like to retire some day, and there are many of us who would like to do so on an accelerated time frame.
Of course it should come as no surprise that individuals with children have a lot more headwind in doing so than those who do not.
How much more?
Physician on Fire addresses this in, “Financial Independence With Kids: How Procreation Impacts FIRE.”
I have previously written on the reasoning why I sent my daughter to private school (grades 6-12) even though I knew the financial implication this decision carried.
Financial Samurai sheds some light on how expensive this decision could be for some in, “Public Or Private School? Paying $1 Million For Private Not Worth It.”
The money spent on a child does not magically go away when they leave the nest.
In fact, thanks to rapidly rising costs in higher education, the first 4 or so years after a child leaves the nest may be more expensive than the preceding 18 years.
Some of us will be fortunate enough to have a war chest already filled for college tuition.
For those of us who will not have secondary education costs already fully funded the main alternative would be to make up the difference with student loans.
There are so many student loan options out there that it can make your head spin.
Dividend Power helps you to wade through the options in, “Understanding Student Loans for Parents.”
Hopefully the decision to start or not start a family is not based on financials.
There are some individuals that forgo to have children based on a multitude of reasons.
It certainly is a difficult choice when choosing never to have children especially when that is the norm for society.
Life Of A Med Student tells the story of one surgeon bravely sharing her decision not to have kids in, “Making a Choice: A Surgeon’s Decision to NOT have Children.”
Hope you enjoyed the reading material.
Have a great rest of the week.
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