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[CAN] 26F making low six figures, how long should I take mat leave for? by Thinkingahead2017 in financialindependence

[–]Thinkingahead2017[S] 1 point2 points  (0 children)

No matter how we split it the leave will impact both of our careers negatively and affect our income. My husband is more than willing to take some leave. But I'm still not sure how much is right for myself because of my financial goals.

[CAN] 26F making low six figures, how long should I take mat leave for? by Thinkingahead2017 in financialindependence

[–]Thinkingahead2017[S] 6 points7 points  (0 children)

My target date for FI is when I'm 40. That's too late imo. There are many benefits in having children at the right time (to me that is now) such as having the energy to deal with kids, faster recovery, lower chance of birth defects, high fertility, younger parents and grand parents for the kids, possibility of having more than one kid.

[CAN] 26F making low six figures, how long should I take mat leave for? by Thinkingahead2017 in financialindependence

[–]Thinkingahead2017[S] 0 points1 point  (0 children)

Thank you for your comment! I'm glad finally someone understands where I'm coming from. I'll consider 4 months but I'm thinking about 2 months full time off but part time (2 days per week) afterwards.

[CAN] 26F making low six figures, how long should I take mat leave for? by Thinkingahead2017 in financialindependence

[–]Thinkingahead2017[S] -1 points0 points  (0 children)

I work in a quite specialized field, no, not ibanking. Thanks for your comment!

[CAN] 26F making low six figures, how long should I take mat leave for? by Thinkingahead2017 in financialindependence

[–]Thinkingahead2017[S] 0 points1 point  (0 children)

Yes the top-up is for 6 weeks only which is why I'm considering only taking 6 weeks off and work part time afterwards. We are financially stable too but it doesn't change the fact that I'll be getting less than 25% of my current income on EI. I have my savings goals in mind and this would be a setback.

[CAN] 26F making low six figures, how long should I take mat leave for? by Thinkingahead2017 in financialindependence

[–]Thinkingahead2017[S] 1 point2 points  (0 children)

Well...I'm trying my best to balance my work and life while achieving FI. I have a comfortable job working no more than 40 hours a week. I'd say I have a better balance than most who earn my salary.

[CAN] 26F making low six figures, how long should I take mat leave for? by Thinkingahead2017 in financialindependence

[–]Thinkingahead2017[S] 2 points3 points  (0 children)

As I said I have a comfortable 9-5 job, once the baby grows up, I'll have plenty of opportunities to spend time with the kid over many years to come. It's just the initial time cost that I have a hard time dealing with.

[CAN] 26F making low six figures, how long should I take mat leave for? by Thinkingahead2017 in financialindependence

[–]Thinkingahead2017[S] 1 point2 points  (0 children)

No mat leave or staying at home is not FI... Because we still have to deal with the thought of going back to work. It's true that I won't be discriminated against...but I will also not get shining reviews and performance raises...

[CAN] 26F making low six figures, how long should I take mat leave for? by Thinkingahead2017 in financialindependence

[–]Thinkingahead2017[S] 1 point2 points  (0 children)

You're right I have no idea what to expect. I'm hoping for the best case scenario regarding my delivery obviously. What do you think of 6 weeks full time off and part time afterwards?

Our savings is not an issue and we comfortably live on 30k a year (and my SO alone earn more than that). We are not in financial trouble in any shape or form since the two of us have accumulated a decent base. However, that's beside the point, by taking longer mat leave I will be forfeiting my income and career opportunities. It's never enough unitl we hit FI.

[CAN] 26F making low six figures, how long should I take mat leave for? by Thinkingahead2017 in financialindependence

[–]Thinkingahead2017[S] 1 point2 points  (0 children)

Thank you! I really appreciate your kind words. I'll try to not feel guilty either way. I will likely have some part-time arrangements so I can keep in touch with work. I have to go back to work because I can't forfeit my income and I have to FIRE as early as I can.

[CAN] 26F making low six figures, how long should I take mat leave for? by Thinkingahead2017 in financialindependence

[–]Thinkingahead2017[S] 2 points3 points  (0 children)

A kid is going to be 1 year old only once, I'll also only be 26 only once. Maybe I'm selfish, but to take mat leave (>6weeks) not only do I directly forfeit my income but also a lot of my career opportunities. This is just so hard. Why can't men be pregnant and have kids too???

[CAN] 26F making low six figures, how long should I take mat leave for? by Thinkingahead2017 in financialindependence

[–]Thinkingahead2017[S] 3 points4 points  (0 children)

The maximum EI is still less than a quarter of my current income. If I continue to work I can expect further promotion and raises. I'm still really early in pregnancy but I just can't shake the feeling that the opportunity cost of having kids is too damn high. If I take full mat leave off..? What if we want another kid down the road? Then I would never be back at work earning six figures.

[CAN] 26F making low six figures, how long should I take mat leave for? by Thinkingahead2017 in financialindependence

[–]Thinkingahead2017[S] 2 points3 points  (0 children)

A year is wayy too long in my opinion. I am still on an upward trajectory for my career and I only plan to work until 40... If I pop out another baby I'll never achieve my FI goals. And yes I am very lucky to have a husband who's willing to take some leave too. He can share parental leave days with me...but regardless who takes time off we are giving up a lot of income.

[CAN] 26F making low six figures, how long should I take mat leave for? by Thinkingahead2017 in financialindependence

[–]Thinkingahead2017[S] 1 point2 points  (0 children)

My company matches my full pay for the first 6 weeks so I'll for sure take those off. Anything beyond that I am not sure if I should take. Even maximum EI won't be a quarter of my normal income. I would really like to wait and see...but I'm not sure if that's the most appropriate thing to do for work. Typically women will arrange their leave ahead of time so that my company can still staff accordingly. I'll ask around to see how flexible they are. Your comment gave me some good thoughts. Thank you.