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Reply to "Costs of raising a child"
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[quote=Anonymous]How poor? I was on medicaid back in a day getting paid below minimum wage. It was de-memorializing and exhausting. The tax refund was what made my wage minimum wage. My kid went to public schools prk4-12. He got free lunch, transportation, and aftercare. He did no activities. I sold my little condo after 12 years and put the equity into stock market where it did 5-6x in 1-2 years. I got off medicaid and skipped middle class. I learned all about investing, got a finance degree from local public for cheap and barely work now. Kid is starting CC in September and he is getting a job to open a Roth for him. Got to shield the money from taxes. All the tax credits and deductions available to him should pay for his CC this semester. He will not be on my tax return and I can't touch the 529 or he wouldn't get anything back. Get some personal finance and tax books to read. I don't pay taxes. Well, I do, but I get them all back and then some. The money I bring home is nearly doubled by government and then I double it again in my Roth within a year. I have a second kid, so still filing as HH for years. No need to have both of them on my tax returns. Got to maximize it all. Second kid is cheap too. Public schools all the way, $193 a month for health insurance, and some robux here and there. [/quote]
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