- We have another child due end of Sept. We are looking forward to the special day (whenever it comes).
- I am considering a Chicago based job. There is not certainty that I'll get it, but it would cause us to relocate once again. I have talked with the company in the past and received an offer - which I was unable to accept at the time. There is a 50/50 chance this will materialize.
The economic consequences of having another child? I have estimated the temporary reduction in cash flow will be about $33,000 due to family leave assuming we:
- hire a nanny for help on an ongoing basis (est. $300/week - possibly higher)
- take a moderate vacation with entire family before year's end (to the degree we can travel with a newborn)
- receive an aggregate of 3 weeks vacation and 2 weeks advance vacation (from next year) from current employers
- take additional time off through year's end
If I can start a new job by the beginning of November, I should be able to lower the $33k reduction in cash flow by an additional $15k - $30k. It will depend upon many different factors.
However, if I obtain the Chicago based job an avalanche of change will happen:
- relocation issues
- new job for wife - may not pay as well, but my increase will offset
- 6 month commute until family moves - say April next year
- buy short term Chicago condo
- sell house in NC
- buy house in Chicago - 3,500 sq. foot house in good school district $800k - $1.xM
- find montessori or similar school for children - more expensive, probably
- I'm going to really miss my wife and kids - imaging fly out Sunday night and back Thursday night
Have a wonderful weekend,