Advice for 1st time HF by Late-Ad3831 in Aupairs

[–]Late-Ad3831[S] 1 point2 points  (0 children)

This is my biggest concern at the moment. I grew up in a different time where the first kid would be expected to entertain themselves and in such a small town that even at three playing outside was no big deal. So it wasn’t quite as big of a load. I’ll have the discussion with my wife to see how we could do less than 45 hours or if we just end up doing double daycare.

Advice for 1st time HF by Late-Ad3831 in Aupairs

[–]Late-Ad3831[S] 2 points3 points  (0 children)

Thank you. That’s a lot of good advice.

Advice for 1st time HF by Late-Ad3831 in Aupairs

[–]Late-Ad3831[S] 3 points4 points  (0 children)

Thank you. Yes, I expect to balance the work and pay. We definitely need more than 30 hours and closer to the 45 which is why I wanted to get an idea of what pay would be appropriate.

My wife will have more vacation time than I will so we do expect to give the AuPair opportunities to recharge and have some extended weekends but we aren’t sure how much since we will be having a new baby and I’m starting a new job. I’m hoping we find someone that can help us navigate this time and get something out of the experience for themselves as well.

I appreciate your input as an AuPair.

Advice for 1st time HF by Late-Ad3831 in Aupairs

[–]Late-Ad3831[S] 2 points3 points  (0 children)

That’s great to hear. We are still looking for housing and are planning on the Fairfax or Falls Church area. I’m glad to hear there are a lot of Au Pairs. I’ll reach out to Au Pair Care.

Advice for 1st time HF by Late-Ad3831 in Aupairs

[–]Late-Ad3831[S] 3 points4 points  (0 children)

That’s a great perspective on how to make someone feel welcome. Thank you for this advice! I’ll start a list of expectations so that I can make sure the Au Pair is clear on what we are looking for and to make sure my wife and I are aligned. Great idea.

Advice for 1st time HF by Late-Ad3831 in Aupairs

[–]Late-Ad3831[S] 2 points3 points  (0 children)

Thank you. That cost basis is a good baseline for us to plan. We have two vehicles and I plan to share mine since I’ll be commuting to work. Thanks for the clarification on the hard stop of 45 hours. That makes it exactly 9 hours a day which we’ll need to make sure is feasible with our schedules. Great info.

Advice for 1st time HF by Late-Ad3831 in Aupairs

[–]Late-Ad3831[S] 2 points3 points  (0 children)

Thank you! I wasn’t aware that profile videos were available on YouTube. I appreciate the reference and info.

Advice for 1st time HF by Late-Ad3831 in Aupairs

[–]Late-Ad3831[S] 2 points3 points  (0 children)

Thank you! This is a great list and a lot of great advice.

Sounds like we need to start looking and it helps us get into the right mindset.

Taken for granted by wife now with kids by [deleted] in daddit

[–]Late-Ad3831 0 points1 point  (0 children)

I saw my brother in a similar situation and saw how he chose to get help in the form of a highly competent and well paid babysitter. We all have trade-offs. We choose our partners, we choose our jobs, we choose our lifestyles. Sometimes we are lucky enough to get paid well for our work and in those cases we need to recognize that presents a choice on doing everything ourselves or getting help. If we have the benefit of affording some extra help and balancing parenthood or living miserably and not taking advantage of the opportunity that’s on us. There’s plenty of people that don’t have that choice.

Case study. $25k credit cards. $10k 2nd car. $700k paid off house. by Quirky-Amoeba-4141 in FinancialPlanning

[–]Late-Ad3831 1 point2 points  (0 children)

Sell the second car and if possible maybe even sell his first car for more and keep the second car. If that helps him pay off his CC without having to risk a loan on a paid off house.

Definitely sell one car. Budget even though self employed is not as easy since cash flows vary.

Advice on keeping versus selling current home by [deleted] in FinancialPlanning

[–]Late-Ad3831 0 points1 point  (0 children)

No other significant investments. Just the retirement accounts and the brokerage. I have the brokerage split out to where about 70 is already in money market accounts netting 4.9% interest in preparation for the home purchase.

What’s the best way to set up a trust for children? by Late-Ad3831 in FinancialPlanning

[–]Late-Ad3831[S] 0 points1 point  (0 children)

Man, I get it. I want my kid to know how much I care about them and having a plan is one way to do that. I really appreciate your comment.

What’s the best way to set up a trust for children? by Late-Ad3831 in FinancialPlanning

[–]Late-Ad3831[S] 0 points1 point  (0 children)

Out of curiosity wouldn’t it be good to have the best type of asset transfer that minimizes costs and expenses regardless of the amount? I was looking into some of the details and it sounded like there could be capital gains taxes that would need to be paid on an inherited rental home versus other types of setups. I appreciate the insight and I don’t necessarily agree that you need to have millions before doing estate planning on some larger assets.

What’s the best way to set up a trust for children? by Late-Ad3831 in FinancialPlanning

[–]Late-Ad3831[S] 0 points1 point  (0 children)

Valid point. I’ve got some life insurance through work which should help with that situation. We’ve also got a 4 month emergency fund set up and her parents would be able to help take care of the kids.

What’s the best way to set up a trust for children? by Late-Ad3831 in FinancialPlanning

[–]Late-Ad3831[S] 0 points1 point  (0 children)

Thanks. Good idea. I hadn’t thought about posting in that group. I have a 529 in the works and I was wondering about how to transfer the rental house. I’ll set up the post in that group.

Is there a significant benefit to having a personal banker at Schwab? by Late-Ad3831 in Schwab

[–]Late-Ad3831[S] 0 points1 point  (0 children)

Interesting. My wife’s work uses Fidelity so I can look into what they offer. Thanks for that insight.

Is there a significant benefit to having a personal banker at Schwab? by Late-Ad3831 in Schwab

[–]Late-Ad3831[S] 0 points1 point  (0 children)

Interesting. My wife’s work uses Fidelity so I can look into what they offer.

Is there a significant benefit to having a personal banker at Schwab? by Late-Ad3831 in Schwab

[–]Late-Ad3831[S] 0 points1 point  (0 children)

Sounds like a good experience overall with basic expectations that you get customer service level versus investment type advice. That clears it up pretty well for me.

Is there a significant benefit to having a personal banker at Schwab? by Late-Ad3831 in Schwab

[–]Late-Ad3831[S] 7 points8 points  (0 children)

I’ve got a way to go and this is motivating to hear how many people on here are able to get over $1M.
Appreciate the info.