Reply to controversial opinion: money & finances edition

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Anyone who makes $200k plus and is "scraping by" has poor judgment.[/quote]

So is having two kids poor judgment?  Because the average daycare in this area is $2,100.  Per child.  You can probably find a cheap nanny for $3k per month.  Let’s say your mortgage is at least $3k.  You also need to save at least $500 per month per kid in a 529.  This means you have $7k of fixed expenses and you probably bring home around $10k per month.

That being said, I waited until I was older to have kids and we make way more than 200k.  But I absolutely understand why once you have kids in this area it’s hard to get by on 200k and have anything leftover unless you want to live with your family in a one bedroom apartment, not save for college etc.  Having one parent quit working only helps in the short term and will screw you in retirement.

[/quote]

Having kids is a huge cost with daycare and pp is right about having a parent quit while the kids are little. We actually saved a lot because I was working on my dissertation for 18 months, so I got time home and there is no weird gap in my resume. But otherwise, kids will kill you if you just make 200k in a place like DC. [/quote]

I am the OP, and I do have kids in daycare in DC so I know of what I speak.  Kids will not "kill you" if you make 200k in DC.  I stand by my statement.[/quote]

There's a big price difference between a daycare with staff qualified (like actual masters degrees) in early childhood education and a random grandmother in your building [/quote]

OP here.  Yes, your statement is true but I stand by mine as well.  We pay for a credentialed center and it costs us about $1700/mo. for 1 kid.  The other kid is in pre-K, which is free in DC starting at age 3.  The after-care at school is very cheap.  None of this should "kill you" on $200k in salary.[/quote]

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