Maker55 wrote:Also, are you financially stable?
A child will cost you around $250,000 by the time they're 18.
Do you already have a good career in place so you can have a good cash flow per month to support your child?
The resolve currency of the world is the u.s. dollar and it's being devalued as we speak and inflation is going up.
The cost of goods and services is going to go up at LEAST in western society.
If the u.s. dollar goes bad, the whole world goes bad.
Are you prepared to deal with this?
Even in europe, the currency is losing value.
Most of these details will be covered on my blog and I am not at liberty to talk about much more of my financial position.
Since you don't have kids, I know people with kids and I have dated women with kids, let me answer this question directly. Do you have to pay $250,000 up front? Last I heard you didn't. That comes to about $13,900 per year until age 18. Are you going to throw them out 12:01am midnight as they turn 18???
By my calculations, it cost just under $30K to live comfortably in Los Angeles (according to Stoney Brook Univ) or as another study put it, you need to work 130 hours a week at min wage to afford rent on average -
Assuming by adding another person she is not going to surprising you with wanting to become a stay-at-home mother, I think its fairly easy with some minor skills and an AS degree you can earn more than $30K. There are still jobs in America that earn that much with minimal skills.
Now it doesn't cost 60K a year to sustain two people. That is actually enough to fit the $13,900 a year of the $250K you would need (which is correct , on average) for one child.
Now to add another child, it is 1:1 so you would need another $14,000 roughly. Though studies have shown if you stagger your births, expenses tapper off a bit until their teenage years after infancy.
These are all averages it could cost more, it could cost less. Since most European countries are struggling with birth rate, you can use that to your favor. Unlike America where only those who can workout their own contracts can get paid maternity leave, you can get that in most countries which Germany, UK and France being the most generous.
Let's just say I plan to have my children in Europe...
I'll have my financials in order by then, no need to worry about me.
I likely have more financial data than you do and I'm well aware of the impact of devalued currency. However because Germany depends highly on the value of the Euro. There is still much to play out, but Germany will be the least impacted country. Unlike France it has a competitive manufacturing base. The only real way it can be impacted is global demand of their products goes WAY down, but VAG has surpassed GM as the largest builder of cars in the world. Also Germany started their own "austerity" back in 2008/2009. Its still kept demand for products up and kept a majority of the workforce employed.
Worst case scenario is already underway, which EU has already told Spain it will not be getting any help for Bankia.
Greece is caught between a rock and hard place. If they stay in the Euro and accept the austerity measures already in place and set to ramp up soon, they will get increasingly more violence and next election cycle get more Ring Wing. Eventually they'll likely have to leave the Euro.
Because Anglo banks are deeply exposed to the Euro crisis, a default by Greece would take down at least one of France's largest banks and at least two or three Anglo banks.
My point is the Euro will eventually sort itself out, when that happens, all focus will change to the problems with the dollar...
Europe with a devalued Euro is more secure than America with a devalued dollar... All you have to do is look at gun/ammo sales in America.
Once the Euro is back to 1:1 with the dollar (theoretically, the dollars actual value is about $.84) local products will go down slightly in cost. But I still have friends and family in America and while like I said I will not disclose all my data here, let's just say before the worst hits, I will be prepared to take advantage of it.
The job market is BETTER, let me say that again, BETTER in Europe than it is in the US despite problems with the Euro because the REAL problem is aging population and low birth rates. The immigrants they let in are typically poor and uneducated, unlikely to make an impact. Some countries have relaxed residence requirements in the hopes to attract younger, talented people.
I am more likely to get a well paying job in Europe than in America. I have a small window to get a few things done but I'm not concerned, one thing at a time.
As I said besides, IMHO you go to places like European Dream Connections or AFA because you work in America, get an average of two weeks paid vacation so you're paying for a compressed schedule and your hand held. I don't need any of that, so the cost goes WAY down. Enough to able to have the time to pursue and have enough money without working a regular "job".
I could keep much of this too myself but as my service to society I want to show that focusing on what's important and not the rest of what people consider important you can get the job done and be happy with the results.
No fear mongering. All you can do is to plan for the best and prepare for the worst. Money is not the only insulation from tragedy, planning goes a long way.
