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Reply to "Sad, just had to cease contributions to my 401K in order to budget in daycare costs for new baby :("
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[quote=Anonymous]There are a lot of things you are doing right! For example, in 9 years when you are done paying your mortgage you will have $4K a month cash flow. Imagine if you put that into retirement. It is a lot more than what people here are advising you to do. I know people who stopped contributing to 401Ks, and borrowed money from family to pay for daycare. It was short term and they had a plan that worked for them. With 2 young children time is more important than saving $25 a month is parking costs. Having your car with you to pick up your child in an emergency - or in the rain makes a huge difference. The cost to refinance the loan may be more than the net savings costs. But a financial advisor can help you look at the complete picture - what is the tax inplications? Are there things that your husband should be expensing as a part of his business? (Should he lease a car and fully expense the lease payments? as well as the gas?)[/quote]
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