Economy

teachercd said:
People get married later, divorced sooner and kids are a lot of work and annoying until they hit like 18...
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And unaffordable. 6 months ago I read an article that explained it now costs $250,000 to get a child from birth to 18. That's not even through college! 

With the median household income, WITH BOTH PARENTS WORKING, at $74,000 you have to dedicate 3.4 full years of your earnings to kids. If you have 3 kids, like I do, that's 750,000, just over 10 years worth of paychecks at the U.S. median household income, just to get them to 18. 

Then you have the college years. Most people I know in their upper 30s are still paying off their own college and will be for the next 8-10 years for a Bachelor Degree. They have kids who are in their early teens and will still be making payments on their loans when their kids enter college. 

It isn't that people don't want to have kids, the truth is, for most people of childbearing age, having kids is just as much an unattainable goal as owning a house. So I find the handwringing over low birthrates funny. It's the direct result of policy decisions made over the last 30-40 years. Thanks Boomers. 

 
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Born N Bled Red said:
And unaffordable. 6 months ago I read an article that explained it now costs $250,000 to get a child from birth to 18. That's not even through college! 

With the median household income, WITH BOTH PARENTS WORKING, at $74,000 you have to dedicate 3.4 full years of your earnings to kids. If you have 3 kids, like I do, that's 750,000, just over 10 years worth of paychecks at the U.S. median household income, just to get them to 18. 

Then you have the college years. Most people I know in their upper 30s are still paying off their own college and will be for the next 8-10 years for a Bachelor Degree. They have kids who are in their early teens and will still be making payments on their loans when their kids enter college. 

It isn't that people don't want to have kids, the truth is, for most people of childbearing age, having kids is just as much an unattainable goal as owning a house. So I find the handwringing over low birthrates funny. It's the direct result of policy decisions made over the last 30-40 years. Thanks Boomers. 
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I heard a wise old man say once, it doesn’t matter how much you make. Raising kids is going to take everything you got.  
 

I would like to know what is going into this figure. There is a very wide range of how much it cost depending on how you do it and where you live. 

 
BigRedBuster said:
I heard a wise old man say once, it doesn’t matter how much you make. Raising kids is going to take everything you got.  
 

I would like to know what is going into this figure. There is a very wide range of how much it cost depending on how you do it and where you live. 
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That figure has been used for about 20+ years now.  I do a budget project for one of my classes I teach and it is super hard to nail this down but just some of the super basic/normal kid stuff really adds up.  

It is so hard to calculate but if you just look at some of the basics I could see it.

Food alone on the super low end will get your to 40k dollars over 18 years and is assuming 6 dollars per day for food.  You go out to eat once a week with your kid(s) and that changes it all.  That is the super low end considering a bag of chips is 4 dollars.

Clothes?  500 a year on clothes, there is another 9k, again that is low.

But right there, you are already at 50K

We have not even started with haircuts, makeup, Bday parties for friends, Xmas, A car, gas for the car, insurances, cell phones (now), school supplies, video games, a tablet, medicine, sports, going to a movie, needing "20 dollars" to go out with friends.

No idea if the figure is super accurate but like I said that # has been around for years.  I suppose it is easy to see on the super low end, spending 5K a year on a kid.  Which puts you in that 40K range.  

250K, that is only about 14K a year

s#!t, daycare is 200 a week on the low end.  That gets close to 40K for 4 years.

I think it is super hard to really calculate because we tend to get things for our kids without really thinking about it...5 dollars here, 20 dollars here.  That all adds up.

 
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ZRod said:
Doesn't count if they already popped!
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I am more worried about the opposite now and what will happen at 830am.

I tried grabbing them post-market yesterday but I missed.

Bitfarm is going off so is COIN.

SMCI might be unstoppable right now.

 
teachercd said:
That figure has been used for about 20+ years now.  I do a budget project for one of my classes I teach and it is super hard to nail this down but just some of the super basic/normal kid stuff really adds up.  

It is so hard to calculate but if you just look at some of the basics I could see it.

Food alone on the super low end will get your to 40k dollars over 18 years and is assuming 6 dollars per day for food.  You go out to eat once a week with your kid(s) and that changes it all.  That is the super low end considering a bag of chips is 4 dollars.

Clothes?  500 a year on clothes, there is another 9k, again that is low.

But right there, you are already at 50K

We have not even started with haircuts, makeup, Bday parties for friends, Xmas, A car, gas for the car, insurances, cell phones (now), school supplies, video games, a tablet, medicine, sports, going to a movie, needing "20 dollars" to go out with friends.

No idea if the figure is super accurate but like I said that # has been around for years.  I suppose it is easy to see on the super low end, spending 5K a year on a kid.  Which puts you in that 40K range.  

250K, that is only about 14K a year

s#!t, daycare is 200 a week on the low end.  That gets close to 40K for 4 years.

I think it is super hard to really calculate because we tend to get things for our kids without really thinking about it...5 dollars here, 20 dollars here.  That all adds up.
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Yep, raising a kid is expensive.

 
teachercd said:
I am more worried about the opposite now and what will happen at 830am.

I tried grabbing them post-market yesterday but I missed.

Bitfarm is going off so is COIN.

SMCI might be unstoppable right now.
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Things look pretty strong in the pre market. I would imagine Friday or Monday we'll see some kind of sell off.

I'm pissed about SMCI. I had my money tied up in other AI stocks and never bought any. I thought there was no way a $900 call option would hit in the next month either. This AI bubble is wild!

 
ZRod said:
Things look pretty strong in the pre market. I would imagine Friday or Monday we'll see some kind of sell off.

I'm pissed about SMCI. I had my money tied up in other AI stocks and never bought any. I thought there was no way a $900 call option would hit in the next month either. This AI bubble is wild!
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I am pissed about SMCI because I sold off 90% of mine yesterday!!!!

BigRedBuster said:
Yep, raising a kid is expensive.
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When we do the budget project I always tell me students

"See, you guys cost your parents a fortune...go home and hug your mom and dad today!"

Then I tell them who to vote for and what to think and which way they should lean politically.  

 
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BigRedBuster said:
@teachercd  So, when is SMCI going to turn around?
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Well it hit 1,077.

But now EVERYTHING will depend on what NVDA reports tomorrow.  They basically better say something way over 3B

They might also mention a few other companies during their call.  If they mention SOUN (SOUNW too) get ready for that to rip.

SMCI is starting to trend up today after a horrible morning.  I dumped all mine the other day but I want to buy back.  Still seems like a 1,200 dollar stock.

With all that said, clearly I am just hoping!  NVDA could crush things on Wednesday if they report at/low.

 
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