? for SAHMs re: Retirement, Savings, etc.

[Skatermom23]

I think it's a matter of priority, too. The issue I have is when your priority becomes better than my priority, know what I mean?

In this thread, I see lots of women making good and thoughtful choices in order to achive their goals. But I see at least half of them are doing it at the expense of college savings. It could be said that they are simply shifting the burden of a huge expense to their children, in order to be able to stay home with them in their younger years. Which is better? Is one right and one wrong? No, of course not. For me, I'd much rather work when my children are small and know that I've provided them with a solid education. But that's because that is MY prioity. Someone else feels just as strongly that being at home in the early years has a payoff equal to college money, just in a different way.

OK, I have one hour to pack - MUST get busy - see you all next week!!!!!

First have a great trip!

Second, it is really about a family plan. I have always stayed home, which allowed DH to really focus on his move up the corporate ladder. We moved when necessary and I took care of everything having to do with the house, money, kids. When the kids were little the money was tight but now that they are in HS, the money is pretty good and we can make up for lost time. So we aren't sacrificing their college education, we just have saved for it differently.

A little OT here, I have run the numbers on getting a part time job while teens are in school and by the time I tax it all at DH's rate and add in the costs of working (gas, clothing, stuff) I would make such a little amount that you really have to weigh if it would be worth it. I know our family is a little unique in that we have always had a long term plan, but hey 20 years into it and we are exactly where we said we would be!

 

[bellarella]

First have a great trip!

Second, it is really about a family plan. I have always stayed home, which allowed DH to really focus on his move up the corporate ladder. We moved when necessary and I took care of everything having to do with the house, money, kids. When the kids were little the money was tight but now that they are in HS, the money is pretty good and we can make up for lost time. So we aren't sacrificing their college education, we just have saved for it differently.

A little OT here, I have run the numbers on getting a part time job while teens are in school and by the time I tax it all at DH's rate and add in the costs of working (gas, clothing, stuff) I would make such a little amount that you really have to weigh if it would be worth it. I know our family is a little unique in that we have always had a long term plan, but hey 20 years into it and we are exactly where we said we would be!

Yup, I agree -- it is about having a long term plan. Co-ordinating two careers is much harder than one. DH is able to work harder at his career without our marriage and family suffering because I stay at home. We have also been able to do some major moves that would have been much harder or impossible had we needed to factor my career into the mix as well. The way we look at it, we budget now off of what is hopefully (and realistically) our lowest income point. We are maxing out retirement and staying out of debt. As income gets added in savings is the first thing that goes up. Our kids are still young. By the time they get to high school we will hopefully be saving for college off of just DH's salary. We also always have the income potential of me going back to work, which is likely once the kids get older and almost certainly the case by the time they are in college. All of that is money that isn't caught up in any other living expense or savings goals, so it can *all* go to college costs.

In a sense, by living comfortably off of one income, you can be saving for college by the mere fact you have a whole other income you can tap. But you need to plan long term to set all the pieces in place to make that happen.