Is it okay to pause investing when life gets expensive? And how much does having kids really change your family budget? Welcome back to Episode 24 of Financial KarMoe! This time, @karyungtom and I talked about the financial realities of raising a family. We share our experiences with slowing down investments, the impact of parental leave on household income, preparing for major home repairs, and why paying down your mortgage can also be part of building your net worth. We also discuss whether it's worth continuing to invest small amounts when you need to focus on other financial priorities. 📈 We get into covered-call ETFs, investment fees, and why comparing portfolio returns isn't always as straightforward as it looks. Kar explains why it's important to distinguish between comparing investment strategies and trying to isolate the impact of fees. We also touch on why covered-call ETFs may lag during a rapid Bitcoin rally. 🧸 And because we're both dads, we talk about the expenses that come with raising kids, from daycare and extracurricular activities to toys, family vacations, and airfare. We even share some thoughts on buying secondhand to save money and the challenges of finding time for a date night when you have little ones at home. Shoutout to @matt.41, @cjs033, @noviceadvisor whose questions/comments we featured. 💬 We'd love to hear from you: What's the biggest expense that has increased since you had kids? Let us know in the comments! https://www.youtube.com/watch?v=W1MRpfzzoxQ
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4 Comments
Nicolle
@moneymeetslegacy · 2h
Sounds like a great episode, especially the part about kids and family expenses. I’ll enjoy listening to it tomorrow! I spend quite a bit per year on my daughter’s extracurriculars but that’s by choice of course. My parents didn’t have the money to put 5 kids in activities, and I always felt a little deprived in that area, like I have no talents other than being good at school 😂. So I’m clearly overcompensating with my kid. That said, she loves all her activities and I don’t mind being her chauffeur.
Christopher J
@cjs033 · 3h
Thanks Moe for the shoutout. I’m happy you and Kar explained it well. The reason for my post was about fees. The comparisons were apple to oranges. The topic I wanted to convey was about fees paid on your investments. You both covered it well. Cheers buddy! 🙏🏻🤩
Jesse Franklin@pinnaclewealth · 3h
By far the biggest expense was paying for college for 2 kids .with my daughters wedding coming in 2nd - we have noticed that our food costs , car insurance and of course health insurance has gone down . Roughly freed up at least 600.00 a month in expenses
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