What The Research Says
- One of the strongest correlates between having children and the life outcome of that child are parent(s) who are economically stable when they have the child.
- Divorce can have significant emotional and financial impacts on children, so anything that reduces that chances of getting divorced also reduces the risks associated with having children.
- Children cost about $300,000 between birth and age 18.
- Single parents tend to have fewer economic resources for children (especially those who were never married)
- While there is no “perfect age” to have children, economic stability and level of education (which often leads to stability) is a factor and older parents (> age 20) tend to have more of both.
- Ultimately the parent(s) should be able to afford the child and provide a stable environment from him or her.
- There is a complex relationship between being a parent and happiness, but at net having children seems to lead to improved overall life satisfaction for parents (relative to non-parents).
References
- Long Term Effects of Divorce on Children (NCSU)
- Cost of Raising A Child Calculator (Baby Center)
- Cost of Raising a Child Calculator (USDA)
- Children With Single Parents – How They Fare (Census)
- America’s Children In Brief: Family and Social Environment (Forum of Child and Family Statistics)
- Parent’s Today Are Happier Than Non-Parents, Study Suggests (USA Today)
The Choices
Never – You’re convinced that the genetic mandate to reproduce is just so much swamp gas and weather balloons and aim to avoid children altogether.
Score: +1 Wealth
After Marriage – You wish to share the joys of 4AM feedings and colic with the one you love the most.
Score: -1 Wealth, +1 Happiness
Outside Marriage – You believe that sometimes you have to bite the bullet and that doesn’t always include a ring…or gainful employment.
Score: -1 Wealth, +1 Happiness, +1 Risk
Outside Marriage (Economically Stable) – You are willing and able to accept the responsibilities that come with raising and caring for a child as long as you don’t also have to raise and care for a spouse.
Score: -1 Wealth, +1 Happiness