Net worth goal before having your first child?

6,877 Views | 63 Replies | Last: 2 mo ago by TexAggie5432
Diggity
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In reply to jamey • 9:54a, 6/18/25
AG
my point was it doesn't make sense to wait until the kid is out of pre-school to contribute to the 529. Anything you can put aside from the beginning will be beneficial.

Obviously everyone's situation is different, but throwing a couple hundred every month will give you a nice start. Even $100 a month in the first 5 years will add about $17K to your nest egg by Year 18.
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newbie11
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In reply to Ghost of Bisbee • 12:34p, 6/18/25
Ghost of Bisbee said:
Milwaukees Best Light said:
401k is down honey, gotta pull out!


Got a good laugh out of this
I can imagine getting it on with cnbc ticker on the screen.
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Athanasius
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1:15p, 6/18/25
AG
Just have kids.
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MRB10
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In reply to newbie11 • 1:32p, 6/18/25
AG
Some people can't get it up without Jim Cramer yelling at them
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Ag CPA
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3:30p, 6/18/25
AG
We did not wait for getting our net worth to a certain point because, as many have said, you will never have enough when you are young unless you are a trust-fund baby. But one thing that did push our decision back was available time; I was in Big 4 accounting out of A&M regularly working 60+ hours a week with weekends and my wife was also working weekends with her corporate job. We waited until we both had more manageable hours so that we could actually spend time with our kids, which ended up being around 30 give or take.

Just my personal experience.
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fightingfarmer09
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3:46p, 6/18/25
I found I became more successful as my kids got older. Even when I lost jobs during Ag downturns. Not just purely due to experience and seniority.

What I learned was having kids allowed me to connect with coworkers, customers, and managers better. We had shared experiences.

Financial wins are numbing if you don't have someone to share the bonus with. Absolutely, have kids when you decide to settle down with your spouse.

We wanted kids and waited a few years to try. Then we found out we had fertility problems, this delayed it more. Don't plan on the unexpected. Just know that raising kids is the absolute greatest accomplishment you will ever have in your life.

ETA: It's also jarring when you find out that you are 10-12 years older than all the other parents on the Little League Board.
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Ag92NGranbury
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10:28p, 6/18/25
AG
$1B!

Kidding

It is ridiculous to have this discussion. Enjoying my kids and their path in life is worth more than any money in the world...

Just going to say it... "the root of evil is the love of money"
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one safe place
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In reply to fightingfarmer09 • 11:37p, 6/18/25
fightingfarmer09 said:
Just know that raising kids is the absolute greatest accomplishment you will ever have in your life.

ETA: It's also jarring when you find out that you are 10-12 years older than all the other parents on the Little League Board.
As to your first statement, I agree. And then come grandbabies! We just had our eighth. All of ours live within 1.5 miles, so we see them a lot. One is a junior at A&M so we don't see her as often. I recently bought these pistol things that blow bubbles and today I was on hold with an IRS agent and putting batteries in one of the guns for one of my grandsons. He went outside and I saw hundreds of bubbles so he came back inside and saw I was on the phone, but whispered the bubble gun was working now. I replied to him and the agent thought I was talking to her. I explained I was talking to my grandson about a gun that shoot hundreds of bubbles in a few seconds. She got to laughing, as did I, and then the conversation shifted to grandkids, lol.

As to your second comment, I was 32 when our first one came along and ran into the same scenario you are talking about. I was around 14 years older than more than a few of the parents of similar aged children. Our third child was when I was 40. It was not unusual that some my age were already grandparents.
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62strat
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In reply to one safe place • 1:12a, 6/19/25
AG
one safe place said:
fightingfarmer09 said:
Just know that raising kids is the absolute greatest accomplishment you will ever have in your life.

ETA: It's also jarring when you find out that you are 10-12 years older than all the other parents on the Little League Board.

As to your second comment, I was 32 when our first one came along and ran into the same scenario you are talking about. I was around 14 years older than more than a few of the parents of similar aged children. Our third child was when I was 40. It was not unusual that some my age were already grandparents.

We were 34/36 for ours.
Maybe it's where you live; most parents around us are our age, give or take 5 years. South Denver burbs; not many 20 something's or 30 something's for that matter are in a spot in life to afford a home around here.

We bought at 32 when the price was less than half it is now.
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Sims
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In reply to He Who Shall Be Unnamed • 9:23a, 6/19/25
AG
He Who Shall Be Unnamed said:
I was aiming for a net worth of $10 million by the time I had my first child.
I fell about $9.5 million short of that goal.
But I am WAY richer for having procreated.
You're ahead of me. I think I fell about $10.5M short of the $10M goal for #1.
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one MEEN Ag
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In reply to Ghost of Bisbee • 10:53a, 6/19/25
AG
Ghost of Bisbee said:
What net worth # did your household aspire to hit before having your first child?

I know some will look at savings or cash flow and use those numbers. I'm curious how many here were shooting for a net worth number, and what that range was.

Also curious how you went about modeling out childcare costs before pre-K for the dual income families.

Other fun thought exercise…
- how are you thinking about saving for college, in a world where college may not matter 20 years from now?

Not judging anyone here. Just looking to learn.
You live in the richest country in the richest time of the world. It has never been safer to bring a baby into this world than now. For eons up until the 1960s you just brought kids into this world 'ready' or not.

Kids require sacrifice but you do not need to be financially in the top 10% to finally be ready for kids. They are as expensive as you want them to be.

Pull the goalie, start yesterday. You'll find a way to make the finances work, this is just how life works. Kids will quickly bring your financial goals back down to reality. You don't need half the things you currently purchase as a childless adult.

Let your wife take early retirement and enjoy the time when they are little. They're only little once and you won't miss the delta in money for having a professional working wife.

You should have the ability for six months emergency fund regardless of having kids. If y'all are dual career that shouldve been taken care of a long time ago.
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Pinochet
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In reply to Charismatic Megafauna • 11:02a, 6/19/25
Charismatic Megafauna said:
Yep money wasn't part of the equation. Having our kids between 34 and 39 I had a lot of thoughts that staying up all night with babies would have been much easier when I was younger, also crossed my mind many times that it would have been tough to afford back then. I'll be 58 or 59 when my youngest graduates hs, maybe don't wait that long

Now you tell me!
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Mark Fairchild
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1:11p, 6/20/25
AG
Howdy, Well DAMN I am sitting here laughing my ass off!!! Being an OLD, I am amazed at what the young now know that we did not, Net Worth?? I could not spell Net Worth when we got married, and if I/We had one it was probably negative. Had four of them little critters and would do it again, wish we had had more. But in the Old Days, you just did what you had to do. Still laughing, Net Worth, what was that???
Gig'em, Ole Army Class of '70
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double aught
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5:14p, 6/20/25
AG
Have some kids! America needs a continual supply of responsible citizens/taxpayers.
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Ghost of Bisbee
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In reply to Mark Fairchild • 11:12p, 6/20/25
AG
Howdy Mark, good to hear from you, sir!
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GasAg90
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11:23p, 6/20/25
You have enough money to have a kid when you can burn a $100 bill without any emotion.
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Emotional Support Cobra
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8:45a, 6/21/25
AG
Not to be that mom lady, but keep in mind that beyond early 30s is considered "advanced maternal age" and technically not ideal for maternal-fetal outcomes. Yes statistically people have babies in their 30s and survive, but in general risks are much lower in your 20s. Modern medicine has eased the path but there are still more risks the older you get not to mention being older parents with less energy. Worst case, fertility wants and then the path is more arduous, risky, and expensive.

These days everyone is so stressed about finances but if you wait too long it could be too late. My kids will graduate high school by the time I am 50 and I am glad to still have some youthful energy to enjoy an empty nest God willing. Best of luck to you either way!
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htxag09
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In reply to GasAg90 • 9:33a, 6/21/25
AG
GasAg90 said:
You have enough money to have a kid when you can burn a $100 bill without any emotion.

Guess I need to give up my 2 kids, then….
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CaptnCarl
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10:37a, 6/21/25
AG
There is no magic number. Kids don't need money, they need love and attention.

Far more important to have finances in order before marriage than before kids. Once married, your time is multiplied; raising kids AND providing for your family is achievable through team work.
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CaptnCarl
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11:58a, 6/21/25
AG
Another thought:

Considering how many parents' net worth IS their children, by definition, the answer is $0.
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LOYAL AG
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3:35p, 6/21/25
AG
I'm closing in on 55, Mrs LOYAL AG is almost 53. Our 26 year old son is planning his wedding and they've made no bones about taking advantage of the free babysitting that comes from living in the same town as both of their parents. Our daughter is 23 and out of college. Both are building careers and we're young enough to still have the energy to help them move when they need it.

Early in their lives I coached baseball and my wife ran around playing dance mom. Later we went to Omaha for youth baseball tournaments and St Louis and New Orleans for volleyball. We went to DC and Colorado for vacations. We took college trips to Los Angeles and Nashville. We went to HS band competitions and football games to see them perform. We played games together on the Wii or card games, Candyland, etc.

My grandmother is still alive at 92 and my kids have had a blast getting to know her. My daughter calls her great grandmother several times a year, a blessing I couldn't have ever imagined until it happened.

What we didn't do was worry about money. Kind of reckless at times but we enjoyed our lives as much as we could. You'll figure it out. It's just money, you'll make more of it. But as others have said having kids isn't a guarantee so get busy.
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Eliminatus
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In reply to CaptnCarl • 9:47p, 6/21/25
AG
CaptnCarl said:
There is no magic number. Kids don't need money, they need love and attention.

Far more important to have finances in order before marriage than before kids. Once married, your time is multiplied; raising kids AND providing for your family is achievable through team work.


THIS

I grew up desperately poor. Like, going to bed hungry every now and again poor. The most loving and well adjusted family I have ever met in my life was even poorer than us. I envied them in fact. Still do actually.

A strong and loving nuclear family is the key. Not some arbitrary number on a screen.

And time is a cruel mistress. Get what you can out of this life before it's too late.
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PDEMDHC
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In reply to Charismatic Megafauna • 12:21p, 6/22/25
AG
Charismatic Megafauna said:
Yep money wasn't part of the equation. Having our kids between 34 and 39 I had a lot of thoughts that staying up all night with babies would have been much easier when I was younger, also crossed my mind many times that it would have been tough to afford back then. I'll be 58 or 59 when my youngest graduates hs, maybe don't wait that long


Jokes on me. Had a daughter at 40 and twin boys at 43 (currently 43).

I will be retired by the time the boys finish trade school or college. Goal is HS so my wife and I can enjoy ourselves.
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Gordon McKernan
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12:01p, 6/23/25
Yeah, we had kids young, net worth was $0 at best then, if not slightly negative. We will be 50 when our 4th kid graduates high school. Looking forward to that!

Don't wait.... You'll never have enough money.

I do 100% agree with a couple things posted here already:

  • Don't assume you will easily get pregnant, especially if you wait until your wife is mid 30's or later.....
  • Live your life off one income, even if you maintain two incomes, budget/live off of one and let the other be extra savings/investment/etc.... It depends greatly what type of work you both do, and if you have help from family, etc... But having two parents trying to climb the corporate ladder with young kids is a fricken grind and not one I recommend. My wife has stayed home majority of our children's lives, and we had to sacrifice in our 20's to make it work, but it's well worth it.
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rgleml
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4:43p, 6/23/25
AG
Got married prior to my junior year. My daughter was born 9 months, 1 week and 3 days later. If you count our old Fairlane car, net worth was probably about $300.
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Pacifico
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In reply to Ghost of Bisbee • 7:10p, 6/23/25
AG
Ghost of Bisbee said:
What net worth # did your household aspire to hit before having your first child?

I know some will look at savings or cash flow and use those numbers. I'm curious how many here were shooting for a net worth number, and what that range was.

Also curious how you went about modeling out childcare costs before pre-K for the dual income families.

Other fun thought exercise…
- how are you thinking about saving for college, in a world where college may not matter 20 years from now?

Not judging anyone here. Just looking to learn.
There is no right time to have children. If you do it right, they won't care if you have money or not.
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A. G. Pennypacker
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8:05p, 6/23/25
AG
Wife & I got married at 27, but waited to have our first until 33. Now at age 62, we have one 6 month old grandchild. If I had it to do over again I'd probably start sooner.
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Waterski02
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12:48a, 6/24/25
AG
I'll echo everyone else. It's asinine to put a number into such an endeavor as children. You'll know when you're ready and while finances are a part of the equation, having X in the bank is just a drop in the bucket.
Ask yourself are you ready for the first diaper, the all night teething sessions, bodily fluids over everything.
Then ask yourself are you ready for the first diaper for something so amazing that they need you for care and you're ready. Ask yourself if you're ready for the first time they grab your mighty finger as tight as they can. Ask yourself if you're ready when after that all nighter they fall asleep on your chest watching endless reruns.
Then you're ready, and a number in a bank account doesn't answer that.
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TexAggie5432
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5:11p, 6/26/25
We had kids young and broke. Made for so tight budgets but we figured it out. I like being on the younger side of parents.
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