Forum Replies Created
- L.A Aussie wrote:Terryw wrote:
You are assuming Spud had kids while on the pension.
What should he do if he kids came first and the pension second? Adopt a few kids out ???
And what is a solicitor loan? They don't exist!
True; I did assume he had kids while being able-bodied and working.
I still think having 5 kids in this day and age is impractical unless you are earning about $1 mill per year – that's if you want to have a decent lifestyle as well.
Most people I've seen with this many kids struggle their whole lives. Maybe they are totally happy?
I'd rather put a lot more quality time and quality life into 2 kids; take them on nice holidays, buy them decent things, put them in good schools.
Our family doctor has 5 kids, but he has a practice, and his wife is a nurse who does agency work and earns a nice income without having to sacrifice too much time away from the kids. Their lifestyle is very nice.
For the average earning Father, with a Wife who stays at home with the 5 kids……a life of less is guaranteed – unless there are generous Gubmint handouts.
No thanks.
It's a conscious decision. Some may say it is mercenary. I say it is about having the best life you can, and have kids in it.
The tricky part is balancing the number of kids with the income.
Most people don't think about this in my experience; they just plow ahead and pump 'em out. That's fine; but they invariably end up in the same boat as our mate Spud for one reason or another – they lose their job, or their health, or both etc.
As for the "Solicitor Loans" these are like a second mortgage loan they provide from trust accounts. They do exist – not all solicitors do them, and they are higher interest rate. They are usually short -term. We have done two of them over the years. Work well for a short-term solution.
Hi, Marc
My best friend in Singapore is going down that path of pumping them kids out. I asked him just how large a family he wants, and he told me that ideally, he wants 2 daughters, 4 sons and 2 dogs. He and wife already have 2 dogs and 1 daughter who is only 2 months old. They are already starting on their 2nd kid.
I asked him about spacing out the years between the children, and he responded by saying that since it took them one year of trying to have their first child, it should take the same amount of time to get their 2nd one.
Instead of spreading out and having to deal with a crying newborn every 2-3 yrs, he said it is better to deal with all the child bearing and diaper changing in as short a time as possible! At the minimal, he and wife wants 4 kids and they are going to squeeze them all into their 3 BR apt home. For those who do not know the housing situation in Singapore, 90% of the population live in public housing apts, the equivalent standard is similar to the median private Apartment in any major capital city in Australia. The private market is very expensive, and usually start from S$700K onwards for a decent 3 BR apt in the outer suburbs, about 15-20 kms from the CBD.
I agree with you, Marc, in that if someone want to have lots of kids, then they got to be in a position to be able to provide the best options available. So, your family doctor is in such a position.
I recalled reading Robert Kiyosaki's Rich Dad Poor Dad, and RK once wrote in that book that his Rich Dad had to be rich because he chose to start a family.
Told the Wifey when we got married that I would like to have 3 children, so we better work smarter on our IPs.
Spudway: This is not intented at you in anyway. I am simply carrying on the discussion since Marc brought up a point that prompted me to chip in another point.
Regards
Daniel Lee
Instead of spreading out and having to deal with a crying newborn every 2-3 yrs, he said it is better to deal with all the child bearing and diaper changing in as short a time as possible! At the minimal, he and wife wants 4 kids and they are going to squeeze them all into their 3 BR apt home. 
