For a mere $66 per day you can provide food for rich families living in metropolitan areas. That's less than some of you hogs spend on Patreon and onlyfans.
For a mere $66 per day you can provide food for rich families living in metropolitan areas. That's less than some of you hogs spend on Patreon and onlyfans.
Massachusetts has one of the/the most expensive childcare systems, and the average payment is $35k for TWO children. These guys paying double for two different aged kids are getting ripped off.
So these two children are simultaneously newborns who both need new cribs, strollers, and playpens, but they're at daycare 11 hours of the day, and in preschool for 9 hours? Hmmm.
I just had a baby - spent maybe $1,000 on cribs/strollers/playpens/etc., without getting the cheapest things (and overspending because some stuff didn't end up being used). All this stuff you can reuse for the next child - it's a one time expense.
Diapers you can easily drop over $100 a month on, though you can save with cloth diapers. Baby food is actually quite cheap - they only need a tiny amount. (Unless you buy overpriced overmarketed shit.) Formula might run you another $100 a month (if you need it, while you need it) - but that's it for an ongoing budget for baby items and baby food. And these costs shrink to 0 after they get potty trained and eat adult food.
So they're essentially setting aside $400k for two kids' education - their kids will have zero student loans at the most expensive college. And once their parents croak they get the life insurance payouts. Savings like that should really be in a different category - these people are accumulating capital, not living paycheck to paycheck.
That's another enormous capital investment. That house will likely be worth $4m in 30 years.
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They just controlled for the lowest possible value in the "un-budgeted" category and acted like that's where the profits go.
Life insurance can also be a capital investment as well.
How do the insurance payouts work? They're paying $120 and $40 a month into those. Does that mean the kids get $2M when the parents die?
Depends on the policy. The ones I've heard about pay out significantly more than a savings account would. The catch is you have to die for it to pay out AND the insurance company interviews you and makes a bet on how good a policy they'll give you depending on your typical demographic's life expectancy. I'm also sure if you fail to pay the monthly fee you might lose the benefits.