This is a discussion on stay at home mum- how much husband's income is enough? within the Home Life, Relationships & Finance forum, part of the You and Your Family category; Personally, I'd not expect my children to take care of me. I know of many people who have kids so ...
Personally, I'd not expect my children to take care of me. I know of many people who have kids so that they can have someone to take care of them when they are old but our children should be allowed the freedom to care for themselves first. Plus relying on someone else is rather risky - what if your child dies before you *touchwood* or has other commitments/goes into debt/etc? As the older ones, we should be responsible for our egg nest and old age savings in a more rational, safe and logical manner.
we got some savings, so hope we just need to rely on my husband's income and for emergency then use the savings.......
how much savings then consider enough? $100k? $200k? or more???
A study shows that at the end of a 45-year career plan, 96% of pple are dead or dead-broke, 3% are self-sustaining, and 1% healthy. That's the ugly truth about our active income job. How sure r we that we can be the 3% or 1%?
So I think better start developing passive income, i.e. we stop working, but income still goes on. So we dont't need to bother how much savings do we actually need for emergency times.
just my 2 cents' worth
I dont't have a goal - just the words "save as much as possible, the more, the better". :P
Hi i am also a stay at home mum.My husband brings home slightly above $5k and i have 2 kids and a maid.My younger son's medical is $450 per month and elder son's childcare is $540 per month.I have a car and 4 insurance/endownment policies.3 yrs ago our combine income was 10k plus and we went for holidays every 3 mths.After i gave birth to my elder son (06/08) and cleared maternity leave 3 mths i went back to work.By 12/08 i found out i was pregnant again my husband told me to resign and i did.In 08/09 i gave birth and after that due to my son's condition and separetion anxiety i never went back to work.We have made do with what my husband is bringing home.We even put aside some money for savings.My husband has stopped going out for drinks with friends and i stop taking 2 many taxis and stop going for massages.What i am trying to say is you have to budget yourself.All of us had different livestyles before kids.
Today, a friend told me that she told her teenage daughters that they (she and husband) will not be passing any inheritances to them in future. This is because since they do not intend to burden their children, they will need the sums for their own retirement. She added that, of course if the children are caring, genuinely concerned for them, she might give them a sum. But she warned them that since she is a very sharp person, she can tell if they are really concerned or 'faking' to be because of money!
I think it is a good move! Kind of funny too.
That's good! My parents often tell me that my inheritance is my education and that's fine by me. It's not as if I'm going to disown my parents if they dont't have any money left for me. I can earn that money with my education. Let them enjoy the rewards of their five decades of hard work.
in china for husband enough year income: 50000 RMB.
hope by next year my girl "completed" her enrichment class.......then can cut down on cost..