How long would you provide for your kid till?

[exxondus]

ic.. hmmm mayb I am being overly cautious then...

[116520]

Kids are like watches... a casino can tell time, PP also can tell time... but nowadays sg parents only want the best for their kids, that's why kids are expensive loh.... maybe not a casino nor a PP, a rolex is also equally a joy...

ic.. hmmm mayb I am being overly cautious then...

[triton]

there is no fix amount. it depends on the amount you are comfortable with.

my general rule is spend about 10-15% of salary on insurance.

dont over budget.

[H2F]

Frankly some of the answers surprise me. Maybe can indicate who currently already have kid or not.

I have 2 kids, 9 & 11. Of course I will make them work hard (for their own good). Even now, they are usually always the last among friends to get pop toys (psp, wii, iphone, iPad), because they have to earn it first (school, kumon, piano, etc). Not have to be champions, but must show best effort.

BUT, these r your kids leh! No way no how you gonna let them starve. As long as they try their best, if cannot earn enough, I will continue to support till I die.

Also $10K per kid is NOT nearly enough. College nowadays (in US) is upwards of US$30-40k per year per kid. Even their primary education now (granted it's in an international school -- hey you always want the best for them, right?) is US$15K per year per kid. Then you have all the lessons fees, toys, entertainment, holiday, etc...

Not trying to scare the single husbands, but having kids need some maturity & planning. Cannot all extra cash go to watches lah bros! (unless u got the luck to buy like 20 fiddy at launch at RRP.... )

[116520]

Bro, I am not saying $10k can bring up a kid.... $10k is enough for doc, delivery, basic needs... etc... as mentioned, be prepare this $10k+ will be used up once the baby is out!!!

If you think so far like college in the States... you save 20 years also not enough....

So don't think so much... JUST DO IT!

At least $10k+ and be prepare that this $10k+ will be used up once the kid is out of the mother's stomach.....

Frankly some of the answers surprise me. Maybe can indicate who currently already have kid or not.

I have 2 kids, 9 & 11. Of course I will make them work hard (for their own good). Even now, they are usually always the last among friends to get pop toys (psp, wii, iphone, iPad), because they have to earn it first (school, kumon, piano, etc). Not have to be champions, but must show best effort.

BUT, these r your kids leh! No way no how you gonna let them starve. As long as they try their best, if cannot earn enough, I will continue to support till I die.

Also $10K per kid is NOT nearly enough. College nowadays (in US) is upwards of US$30-40k per year per kid. Even their primary education now (granted it's in an international school -- hey you always want the best for them, right?) is US$15K per year per kid. Then you have all the lessons fees, toys, entertainment, holiday, etc...

Not trying to scare the single husbands, but having kids need some maturity & planning. Cannot all extra cash go to watches lah bros! (unless u got the luck to buy like 20 fiddy at launch at RRP.... )

[exxondus]

Bro, I am not saying $10k can bring up a kid.... $10k is enough for doc, delivery, basic needs... etc... as mentioned, be prepare this $10k+ will be used up once the baby is out!!!

If you think so far like college in the States... you save 20 years also not enough....

So don't think so much... JUST DO IT!

this ish what I am worried. I mean I don want to be at a situation where I don have enuff and have to struggle like siaoz..

[116520]

Bro, money is one thing.... mental and physical "torture" when kids are naughty, sick, having exams, demand this demand that, like you owned him/her from previous life, go gamble, drop your watch.....

this ish what I am worried. I mean I don want to be at a situation where I don have enuff and have to struggle like siaoz..

[exxondus]

Bro, money is one thing.... mental and physical "torture" when kids are naughty, sick, having exams, demand this demand that, like you owned him/her from previous life, go gamble, drop your watch.....

u got such experience ah keke..

i notice kids this generation is totally diff from my gen as well as older gen. kinda scary haha..

[Keith8896]

are you thinking of having 1 ?

Just Do it.

Your lifestyle will "auto" adjust once you have them.

[wind128]

Do you really need to worry? It depends.

Here's my two cents:

My grandparents had 6 children on each side, my parents had 3 children on each side. Without much planning, all the children grew up, got married, had their own families and children.

From my experience with working parents, there are three core areas in bring up a child: living costs, medical expenses.and education funding.

(1) Living costs can be controlled and managed - it depends on your expectations for the children. Obviously, higher expectation would imply more costs

(2) Medical expenses are divided to two parts - known risks and unknown risks. For known risks, some costs (common cough and cold) can be managed, others (like hereditary or genetic diseases) can be difficult to manage. Unknown risks can usually be transferred to insurers.

(3) Education funding is a bit tricky. Local uni is cheaper than overseas. Then garmen also say no worthy student will be denied of a place in a Uni due to financial difficulties but I think this is difficult to say. You can always borrow money later from banks/CPF to study but you will pay the price later. You can save now for the future but you need to sacrifice now. Of course, if you are lucky, your child is smart enough to win a scholarship and you need not have to worry.

There would probably be no straight forward answer to your question as everyone has their own set of values, perceptions and background.

[H2F]

Bro, money is one thing.... mental and physical "torture" when kids are naughty, sick, having exams, demand this demand that, like you owned him/her from previous life, go gamble, drop your watch.....

Hahaha.. But once they're sleeping and you look at their angelic faces -- all are forgiven

But seriously, as long as you put serious thoughts before having kids, nothing can compare to the joy of coming home everyday to your kids screaming "Daddy! Daddy! You're home!" . So yes, "just do it!"

My point was about how you need to take lots of lessons & must pass exam & be of certain age (implying maturity) before you can get a license to drive -- yet no requirements whatsoever for the most important job in the world -- to be a parent.

Strong believer of no bad kids, only bad parenting, which education & planned parenthood can prevent!

[exxondus]

Do you really need to worry? It depends.

Here's my two cents:

My grandparents had 6 children on each side, my parents had 3 children on each side. Without much planning, all the children grew up, got married, had their own families and children.

From my experience with working parents, there are three core areas in bring up a child: living costs, medical expenses.and education funding.

(1) Living costs can be controlled and managed - it depends on your expectations for the children. Obviously, higher expectation would imply more costs

(2) Medical expenses are divided to two parts - known risks and unknown risks. For known risks, some costs (common cough and cold) can be managed, others (like hereditary or genetic diseases) can be difficult to manage. Unknown risks can usually be transferred to insurers.

(3) Education funding is a bit tricky. Local uni is cheaper than overseas. Then garmen also say no worthy student will be denied of a place in a Uni due to financial difficulties but I think this is difficult to say. You can always borrow money later from banks/CPF to study but you will pay the price later. You can save now for the future but you need to sacrifice now. Of course, if you are lucky, your child is smart enough to win a scholarship and you need not have to worry.

There would probably be no straight forward answer to your question as everyone has their own set of values, perceptions and background.

thanks for the valuable advice!

[shuseido]

Dun be over worried. You believe u can afford as long as not too many kids... Hee hee... Just do it man!!

船到桥头自然直。。。

[GadgetGuy]

I will support them forever and buy a PP for them too.... (of course I wear 1st before passing the watch to them....)

Ha, I'm available for adoption

[edsonchan]

Don't be silly to believe that kids and children gives you a sense of completeness for a family..

This is a propaganda by the government so that they have enough people to pay tax...

Kids gives you nothing but additional trouble from time to time.. That's all..

Stop!