Reply to Making financially imprudent choices for sake of childcare

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[quote=Anonymous][quote=Anonymous]OP here - I appreciate the responses, and happy to answer a couple questions.

(1) Why we still rent - we love the area where we live, our rent is under market for a lot of space, we are zoned for an excellent elementary school, our commutes are about 20 minutes each, and the houses in our neighborhood are typically over a million dollars.  Down the road, we might have to leave the city, but with young kids, we're prioritizing our very short commutes and to be blunt, home ownership isn't something that appeals to us at this point in our lives.

(2) We have a little under 100k in savings that we don't want to touch, in hopes of using towards a down payment eventually.  But that would have to be our emergency fund.

(2) DH's retirement - We could certainly reduce his too, although his company matches a higher percentage than mine.  I hadn't really thought of this because right now, [b]we pay all our expenses other than childcare from his salary, and we pay childcare from mine[/b] and the rest goes into savings.  So in my head, I was keeping my salary as the childcare source.  But there's no reason not to shift that around.

[/quote]

That's not a great idea. You are thinking of childcare as belonging to you. You shouldn't. That way of framing things will make it much easier for you guys to make a decision where you drop out of the workforce entirely, which will lose you money in the long run.

If you have 100K saved for a down payment, you can easily afford an apartment in the city. Are you saving aggressively? The childcare years are not saving years-- you may have to cut back on the savings. And you also don't need preschool AND a nanny for a 2yo.  [/quote]

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