Reaching FI and preparing for kids at the same time sometimes doesn't go as planned.

In this episode we hear tips and tricks from our community on planning for children, the different options LGBTQ couples have and advice when it comes to paternity leave.

You'll love this episode.

We also chat about...

Family timing and tips
Why it can be dangerous to wait too long
The different options LGBTQ couples have
Why you should divide your paternity leave
Working as a stay at home Dad

Enjoy these tips and tricks, and please subscribe to us in iTunes if you enjoyed it!

Show notes and links from today's episode

Playing with FIRE Documentary
Journey to Launch
Financially Intentional
Courtney & Nicole's Instagram
House of FI
Savvy History
Book: The First Forty Days
Financial Samurai

Key takeaways from our community advice
1 - Even when you plan for children, there will be bumps on the road
Planning for children can be a natural thing to do, especially in the FI community. Lynne recommends saving one year in advance if you're going to pay for daycare, and expect the cost of a child to be like a second mortgage. Jamila also recommends to pay off debt, have a home and have an FU fund before having children. Having said this, Felissa advises against waiting too long, since after the age of 30 your maternity is at a higher risk. This can be very expensive if you decide to pay for IVF, and it can harm your relationship with your partner.
2 - Work out your options as an LGBTQ couple
There are quite a few options to having children as an LGBTQ couple - but it's important to plan accordingly. This ranges from adoption, to surrogacy, to adopting from a foster home. Courtney and Nicole decided to work with a fertility donor and it took quite a hit on their budget between all the missing days of work, the stress and social cost. Because they were diligent savers before they had their daughter, Nicole was able to quit her nursing job and stay home with their daughter. They've now been able to hit their FIRE number as a family of 3 but expect to add more to it when they expand their family to 4 in the future.
3 - Split your paternity leave
Nicholas recommends splitting paternity leave as this helps your partner and also means you can enjoy more time with your child at different ages. It's also good to ask your company whether taking paternity leave might hinder your career - in most cases you'll be glad to know that it won't. The amount of flexibility it gives is extremely helpful. There is still a stigma around fathers taking paternity leave as well as being stay at home Dads, however people like Financial Samurai prove that people are doing it and that you shouldn't be worried of what other co-workers think.
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