3 ms·

>it costs $1200000 to raise baby What exactly are you planning to do with all that money anyway? Consume things?

trhway 4mo ago
retire? Retiring only on Social Security is pretty tough, and $1.2M would provide like $4K/month income which on top of Social Security may allow for modest lifestyle in some low COL area. Wrt. the original post i'd agree with GP - better information/education is probably the most powerful birth control.
- mmvvddhh 4mo ago
  So consume things
  - trhway 4mo ago
    Is paying for healthcare and rent and basic food still "consume things"?
- littlecranky67 4mo ago
  If you don't have children to inherit your fortune to, you can retire with full exhaustion of capital - that will yield way more than 4k$/month. Plus, if you don't have children there is not much holding you in the US - you can look at 2nd world countries. I.e. That money buys you a good retirement lifestyle in Mexiko, Brazil, Argentina etc. Or Vietnam, Thailand etc. if you are more into asia.
  - Qem 4mo ago
    > If you don't have children to inherit your fortune to, you can retire with full exhaustion of capital - that will yield way more than 4k$/month. As a lone elderly person you're likely to be scammed and lose a lot of that capital near the end, without close people that like and support you. Elders are incredibly vulnerable to financial scams, specially those enabled by technologic means they are not familiar with.
    - littlecranky67 4mo ago
      > As a lone elderly person you're likely to be scammed That is just utter BS. Yes, it is usally the elderly who got scammed, but saying that because you are elderly you are likely to be scammed is reverse causation. Especially if you manage to accumulate 1.2m$ in your life, you are financially literate and far less likely to fall into a money scam.
throw93930 4mo ago
Nothing? Because I do not have that money!
lstodd 4mo ago
The right question is "to what age". Get all McKinsey and calculate a TCO of a baby from conception to end-of-uni. $1.2M is low-end even for eastern EU, it's more like twice that. 0-to-23. $100K/year. This what a baby costs.
- toast0 4mo ago
  Yeah, but you didn't consider the resale value. Or the potential for end of life care. And apparently grandkids are neat, but it's hard to have those without having kids. Not sure how to value that one.
- tengbretson 4mo ago
  If I had $300k going through my bank account every year I really think I would have noticed by now.

retire? Retiring only on Social Security is pretty tough, and $1.2M would provide like $4K/month income which on top of Social Security may allow for modest lifestyle in some low COL area. Wrt. the original post i'd agree with GP - better information/education is probably the most powerful birth control.

mmvvddhh 4mo ago
So consume things
- trhway 4mo ago
  Is paying for healthcare and rent and basic food still "consume things"?
littlecranky67 4mo ago
If you don't have children to inherit your fortune to, you can retire with full exhaustion of capital - that will yield way more than 4k$/month. Plus, if you don't have children there is not much holding you in the US - you can look at 2nd world countries. I.e. That money buys you a good retirement lifestyle in Mexiko, Brazil, Argentina etc. Or Vietnam, Thailand etc. if you are more into asia.
- Qem 4mo ago
  > If you don't have children to inherit your fortune to, you can retire with full exhaustion of capital - that will yield way more than 4k$/month. As a lone elderly person you're likely to be scammed and lose a lot of that capital near the end, without close people that like and support you. Elders are incredibly vulnerable to financial scams, specially those enabled by technologic means they are not familiar with.
  - littlecranky67 4mo ago
    > As a lone elderly person you're likely to be scammed That is just utter BS. Yes, it is usally the elderly who got scammed, but saying that because you are elderly you are likely to be scammed is reverse causation. Especially if you manage to accumulate 1.2m$ in your life, you are financially literate and far less likely to fall into a money scam.

throw93930 4mo ago

Nothing? Because I do not have that money!

lstodd 4mo ago

The right question is "to what age". Get all McKinsey and calculate a TCO of a baby from conception to end-of-uni. $1.2M is low-end even for eastern EU, it's more like twice that. 0-to-23. $100K/year. This what a baby costs.

toast0 4mo ago
Yeah, but you didn't consider the resale value. Or the potential for end of life care. And apparently grandkids are neat, but it's hard to have those without having kids. Not sure how to value that one.
tengbretson 4mo ago
If I had $300k going through my bank account every year I really think I would have noticed by now.