brip blap - Latest Comments in why you’ll be richer without kids

Re: why you’ll be richer without kids

Chris — Wed, 15 Apr 2009 11:26:56 -0000

Ugh... If I hear one more "the world is overpopulated" comment I am going to puke. Are you aware we pay farmers NOT to farm in order to keep prices UP? I swear people living in NYC or LA think the entire earth is just like them. I lived in San Diego for awhile.. Crowded? Yes. Try driving 15 minutes East... Whoa! As barren as Nebraska, or Iowa, or the Dakotas, or.....

Kids are expensive, I'm sure, but deciding not to have them because you think it will send our precious earth into a tailspin? HA! Don't believe the hype... Actually, do believe it.. I'd prefer you not breed.

Re: why you’ll be richer without kids

fathersez — Mon, 22 Dec 2008 03:19:51 -0000

Now you are telling me! We have 5!.

But seriously, the kids have made a difference in our lives. I accept that we have to spend more when we have children. My wife and I sincerely believe that whenever we have children, a little door opens up there and a little more favours are granted to the parents.

Re: why you’ll be richer without kids

Linda — Tue, 16 Dec 2008 18:15:46 -0000

I agree. This is a very interesting discussion. My husband and I have talked about his coworkers who chose not to have kids and we are glad when people know they don't want to have kids. We have kids and love having them. People who don't want kids shouldn't have them - the worst is when someone who doesn't want kids and ends up having them and then doesn't take care of them. We may never become rich but you know what? Being rich is too overrated. You only need enough to live on, the idea is to know how much is enough and make plans accordingly. The value of the comments here is that we are all thinking about these issues and even though we don't all agree, we know the different sides to of these issues. Everyone has a different take and each is valid.

Being a parent can be extremely difficult but it is also a wonderful experience. It is the most important job in the world - bar none. You are responsible for this human being until he/she reaches adulthood and beyond. People talk about changing the world, well, you can do it right at home. You are this person's world. The relationship you have with this person is priceless. A rich family life surpasses any success in life.

Re: why you’ll be richer without kids

Slinky — Mon, 08 Dec 2008 16:49:56 -0000

I think people jump into a lot of things without really thinking about it and having kids is definitely one of them. It's not really my business, but when a couple has money issues AND relationship issues and then announces that they're having a baby, it does raise a few eyebrows. On the other hand, I congratulate new parents when I hear that they're doing very well and being smart with their money, especially when the pregnancy was unplanned.

Re: why you’ll be richer without kids

Goalhunter — Mon, 08 Dec 2008 13:40:36 -0000

It costs between $5K and $10K annually to own a car (lookup Your Drivings Costs 2007), so to put the $250K per kid into perspective, owning a car over a 50 year driving career costs minimum the same ($5K X 50 years = 250K).

Of course, we are overpopulated with cars too :) And the price of the kid might even include some car time in the later years!

Re: why you’ll be richer without kids

Goalhunter — Mon, 08 Dec 2008 13:29:10 -0000

You spend all your money nonetheless. Kids get some of it if you have them, but xboxes or airlines get it if you don't. Life is simply expensive. And all these arguments about overpopulation I find fairly one-sided. They have the flavour of "I know I fit on the planet, but I really have doubts about those others ..."

If someone did a study on people who made $1B+ they would find that it probably costs many many millions per year to be a billionaire. More than most people's annual salary just on clothes I would bet. Therefore, most people cannot afford to be billionaires and we would have more spare money if we were homeless bums. We could seize upon that opportunity cost that being a billionaire is be able to take our dream vacation.

In my opinion kids are super. I think I would have as many as possible but that might change as my kids get older :) Right now they're awesome, but I do pay in terms of lifestyle. There are things I want to do but can't because there are not enough hours. The kids take up time that I would fill with something else if they weren't here.

Re: why you’ll be richer without kids

retiredsyd — Sun, 07 Dec 2008 17:28:18 -0000

@Happy Parent: Seems to me that no matter what the reasons are that someone chooses not to have kids others should go ahead and be glad they chose not to have them (even if it's not for financial reasons as you mention above.)

That's not how it is in real life though. For the most part, whenever I told people I didn't want kids, they tried to tell me all the reasons I should have them. I would never think of trying to convince people that want kids not to have them! Whatever the reason they have for having them is none of my business, and I'm glad for them they are following their heart in that respect.

Also, I've never asked what reasons someone has for wanting them, but LOTS of people ask me to give reasons why I didn't. I don't actually think it boils down to "reasons" when people decide to have them or not--it's much more basic than that. Either they want them or not.

Re: why you’ll be richer without kids

FB — Sat, 06 Dec 2008 09:53:41 -0000

I could not have agreed more heartily with this post. I want kids in the future and we know that they will cost a bundle, but we have a plan in place which pretty much encompasses what you`ve written there.

Re: why you’ll be richer without kids

Steve — Fri, 05 Dec 2008 19:09:55 -0000

Again, please don't miss the point - I have two, I love them dearly, yet they are expensive. I just mean that people need to be aware of the costs and find strategies to cope before they have kids - without cheating their kids!

Re: why you’ll be richer without kids

A Happy, yet poorer, Parent — Fri, 05 Dec 2008 17:59:59 -0000

If you base not having kids on the cost, then I'm glad you chose to not have kids.

Re: why you’ll be richer without kids

David — Fri, 05 Dec 2008 11:32:48 -0000

"My life has been enriched by my daughter far more than any currency ever could." - I dont even have kids yet and I agree with this statement 100%. Making a lot of money just gives you money, it does not necessarily make you rich. I could care less about being wealthy as long as I have a nice life with good friends/family and I have my health. Everything else is extra, including being wealthy.

Re: why you’ll be richer without kids

deepali — Thu, 04 Dec 2008 18:01:19 -0000

i'm pretty sure this comes up in stumbling towards happiness, but i think he draws the conclusion that kids don't make you as happy as you think. it's not quite that clear cut, more along the lines of expectation vs reality not being the same, and also that we have faulty memories and tend to paint rosier pictures of what happened than we do in the moment.

all that being said, you can cut down on some costs by adopting! which would also address some of those overpopulation issues. and speaking of, smart parents don't always have smart biological kids. it has more to do with the environment in which they are raised, than the random assignment of genetic matter.

and i'm sure i've said this before, but i disagree on the paying for college thing, though i really have no issues with the position of finding the best bang for the buck. that being said, who knows how i would have turned out if my parents had done that. :)

Re: why you’ll be richer without kids

krawl — Wed, 03 Dec 2008 22:55:18 -0000

Kids will cost a lot when you make little to begin with. My ex wife child support,my income net monthly-$1600 my kids get $620 monthly sure does not leave much to get rich with..

Re: why you’ll be richer without kids

Four Pillars — Wed, 03 Dec 2008 22:25:44 -0000

Any time!! :)

Re: why you’ll be richer without kids

Steve — Wed, 03 Dec 2008 15:47:34 -0000

@The Happy Rock: well, the title is of course a little bit inflammatory. At the same time, I'd still argue that the basic numerical concept is there: children take money to raise. With no children, you'd have more of that money - not to mention the intangibles of time, more opportunity to chase other lines of income, etc.

You do bring up a very good point, though, that I didn't really explore, which is the case of people who are inspired to greater heights of achievement in their careers or business or whatever to provide for their families. It could be that the drive to succeed is heightened by having children, and maybe that's the compensating factor.

And again, just to reemphasize that I'm not being a heartless dad, I love my kids like crazy - I don't look at them and see price tags on their heads, any more than I look at my parents and see a dollar sign for my inheritance on their foreheads!! :)

Re: why you’ll be richer without kids

LS — Wed, 03 Dec 2008 15:13:13 -0000

Not related to this article directly: There's a movie "Idiocrasy" starring Luke Wilson that sums up what everybody knows is happening. The movie itself is done poorely, but the idea is good.

A short synopsis:

".....natural selection is indifferent to intelligence, so that in a society in which intelligence is systematically debased, stupid people easily out-breed the intelligent, creating, over the course of five centuries, an irremediably dysfunctional society. Demographic superiority favours those least likely to advance society. Consequently, the children of the educated élites are drowned in a sea of sexually promiscuous, illiterate, alcoholic, proletarian peers..."

Re: why you’ll be richer without kids

The Happy Rock — Wed, 03 Dec 2008 14:35:39 -0000

BB,

I am not sure I see this conclusion play out in real life though. On the extreme end the 20 richest people in the world all had children. I know it is extreme but it would basically destroy the statistics that children = less wealth.

I will argue that the change that happens when maternal and paternal love springs from the deep changes your life forever. I know I am a living example, I know that I am probably happier and more fulfilled and with that becomes more motivated and driven. For me I know that is much wealthier since I got married and then had children. Just my take, I forget what the Millionaire Mind had to say on the issue.

Re: why you’ll be richer without kids

Kate@LivingTheFrugalLife — Wed, 03 Dec 2008 13:18:57 -0000

Bubelah,

Well, I'm 38 and half; not really young in terms of a woman deciding whether or not to have kids. I don't have much time left to change my mind, and I don't think I will.

I really don't want to rehash the (over)population argument, because it's been done to death before. Still and all, I'll respond to what you said: "This world needs children by smart, intelligent, educated, good, honest people." Unfortunately, parents don't get to decide how smart their kids are going to be before they're born. They *might* get some say over the rest of the descriptors, but there are psychopaths raised by decent folks too. My belief is that, "good" person or "bad" person, if that person lives in the first world, as I do, that person is almost guaranteed to be exacting an ultimately unsustainable load on our environment.

I care about the environment too, and the lengths I would have to go to in order to live a truly sustainable life would make me even more freakish than I already am. For starters, eating meat, driving or riding in a gasoline-run vehicle, and sending trash to the landfill would be off the table. Anyone volunteering to go there?

You'll notice I'm not arguing with your claim that the world is overpopulated by dumb people... ;o)

Re: why you’ll be richer without kids

Steve — Wed, 03 Dec 2008 10:31:03 -0000

It's not quite the same thing, since you're talking about a positive benefit (schooling) versus a negative one (prisons and taxes). A better example might be taking the free public interstate versus taking a toll road - a longer, slower drive versus a faster but more expensive one.

Re: why you’ll be richer without kids

guinness416 — Wed, 03 Dec 2008 10:14:45 -0000

@4P - my husband is 37 this year and seriously broody, must be a guy thing at that age! Can he borrow one of yours?

Re: why you’ll be richer without kids

LS — Wed, 03 Dec 2008 08:00:44 -0000

Our taxes also go towards prisons and war. Should I make my money worth by sending my kids there?? (not may original quote, but true)

Re: why you’ll be richer without kids

Chad @ Sentient Money — Wed, 03 Dec 2008 06:58:39 -0000

"And yes, the world is overpopulated, but it's overpopulated by dumb people. This world needs children by smart, intelligent, educated, good, honest people. And unfortunately, those intelligent, educated and good people don't want to have any children, or have one or two, instead of 15 ;o)"

I couldn't agree more, but our society isn't set up for those people (smart, educated, etc.) to have children. For instance, my sister is a special ed teacher and she knows of a fair number of families who have 4 or more children, and purposefully prevent these kids from learning, in order to have them qualify as special needs. This gets them more government money. The only way to fix this is through drastic measures that no one is willing to do.

Re: why you’ll be richer without kids

Bill Barnett — Wed, 03 Dec 2008 02:59:51 -0000

My life has been enriched by my daughter far more than any currency ever could. I understand your message but it has little relevance to me.

Re: why you’ll be richer without kids

Four Pillars — Tue, 02 Dec 2008 22:59:53 -0000

I've always liked kids and wanted some of my own. It didn't happen until a bit later in life - I think I was 37 when my son was born. Money wasn't a consideration since we have enough to raise a couple of kids fairly easily - especially with our generous relatives.

I agree with some of the other comments that the time (opportunity cost) is the big one. Get any travelling out of the way before you have kids!

Mike

Re: why you’ll be richer without kids

Steve — Tue, 02 Dec 2008 21:39:32 -0000

@ERE: Well, again, the 250k figure is a high end figure, and I'm sure that it's probably heavily skewed towards northeasterners and people highly involved in the cello-lesson mentality. I am certain that my parents, for example, spent less than a quarter mil on my brother and myself combined, simply because their salaries, net of taxes and housing, etc. combined over 20 years probably didn't pass that level (although you could argue that taxes and housing might be considered part of that cost).

The time cost is another thing entirely, and gets more into a comparison of non-financial and non-quantifiable benefits: time versus the intangible emotional satisfaction from having children. For me, it's a life experience that I'd be sorry to have missed - but I didn't think that way 10 years ago, so I understand the mindset of not wanting kids. I guess it's like eating sushi. It's hard to know if you'd like it or not until you try it, although many people assume in advance that raw fish wouldn't be something they'd like, and decide not to try it at all. And I'm sure many people live happy lives without having tried sushi, finding satisfaction from eating other things instead...

Tortured analogy, sorry. Still think it's as accurate as I can get, though.