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My wife is having twins!
Old 10-12-2007, 11:01 AM   #1
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My wife is having twins!

WOW... we have been trying for years to get pregnant, and when it finally happened, we got two for the price of one!
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Old 10-12-2007, 11:03 AM   #2
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congrats....
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Old 10-12-2007, 11:11 AM   #3
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That's great! Congrats.
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Old 10-12-2007, 11:21 AM   #4
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Terrific news . . . congrats!
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Old 10-12-2007, 11:58 AM   #5
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Splendid news! Best wishes to the four of you.
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Old 10-12-2007, 03:05 PM   #6
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Super news! How many years will the new "expenditures" postpone ER?
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Old 10-12-2007, 03:45 PM   #7
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I love hearing good news. Congrats all around!
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Old 10-12-2007, 04:07 PM   #8
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Quote:
Originally Posted by packrat44 View Post
Super news! How many years will the new "expenditures" postpone ER?
I don't think it delays it at all.

I am 34, I have about 110k in 401k and another 40k in my Roth. The plan was to drop 401k percentage for me from 11% to 6% when baby comes... that 5% raise covers some of the expenses. Cutting my wife's Roth contributions accounts for much of the other expenses we are expecting.

I will be 52 when babies make college age, and ER age is somewhere between 52 and 54 based on what I calculate based on my savings today, with paying off the house being a bigger factor than how much I have saved.

This does not include wife's 401k (40k) and wifes IRA (10k). Wife will work longer than me- she actually enjoys it.

This does not include my contributions to 401k and Roth between now and then either. My calculations suggest that 160k at age 34 is 320k at 42, 640k at 50 and 1.2 M at 58. 9% return, doubling every 8 years. 1.2 M is close to what I need for retirement based on my current salary.
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Old 10-12-2007, 04:12 PM   #9
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Congrats! We have a 3 year old and a 4 month old at home, we miss sleep. Those first few months will be tough with twins! Well worth it, though!

As far as ER, DW or you might decide you want to stay home at some point though. We did, and while we certainly don't regret her staying home, it has pushed out ER from 45 to 55. Thank goodness we started the investment ball rolling - compounding, we love you!
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Old 10-12-2007, 05:14 PM   #10
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Congratulations.
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Old 10-12-2007, 06:00 PM   #11
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Originally Posted by jIMOh View Post
WOW... we have been trying for years to get pregnant, and when it finally happened, we got two for the price of one!
Congratulations! I have a twin Sister.....I'm her big brother, six minutes older It has been fun to share birthdays thru the years
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Old 10-12-2007, 06:46 PM   #12
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Quote:
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My calculations suggest that 160k at age 34 is 320k at 42, 640k at 50 and 1.2 M at 58. 9% return, doubling every 8 years. 1.2 M is close to what I need for retirement based on my current salary.
Remember, the Rule of 72 works both ways. At 3% inflation the value of $1.2M in 24 years (34 to 58 ) will be $0.6M. However, you will have added a considerable amount to your portfolio in the process. Having $160K at 34yo is a super start. BTW I was 34yo when my first child was born.
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Old 10-12-2007, 06:51 PM   #13
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Congrats!!!!

I have twins, so if you have any questions, pm me. There are some nuances that are different.

Don't let anyone give you horror stories - twins are a blast

Do you know yet if they are identical or fraternal?
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Old 10-12-2007, 10:13 PM   #14
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Congratulations, that's so awesome!

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Old 10-13-2007, 11:29 AM   #15
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Congrats!! I have 5yo twin girls and its been a wonderful adventure! If you need any advice feel free to shoot me a message. Look up savingforcollege.com and upromise.com for some help with college financing and 529s. Set up a 529 and have the relatives contribute to that instead of getting two of every stuffed animal, toy and book. The first 6-8 weeks are a whirlwind. Get disposable cameras and set them in every room because cool stuff happens before u can get to the main camera. Take volunteers to do baby laundry, and let mom nap in the afternoon. Assemble everything you'll need for the 1st year before they are born. Clear out the freezer or buy a new one to stuff with frozen dinners for the first several weeks. You won't want to waste time cooking! Gather menus from all the delivery places and other carryout. Get everything lined up right and the 1st 2 months will be the best of your life!
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Old 10-13-2007, 03:24 PM   #16
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CONGRATS!

I have friends who have been through the fertility thing and I am very impressed with the commitment, patience etc. it takes to get through it!

2-for-1 is very ER forum worthy! what a deal!

i don't think kids cost that much until/if you have to consider child care/preschool, dance class, kung fu class, music class, soccer team, basketball team, disneyland, jumpee houses for bdays etc...those are just on our short list.
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Old 10-13-2007, 08:41 PM   #17
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My SIL and BIL had twins in their mid 40s. They are both 50 now and have 4 boys still at home!
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Old 10-14-2007, 08:03 AM   #18
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Congratulations! Maybe you can take advantage of some "2 for the price of 1 discounts." Our kids were spread out too much, I always thought it would have been easier to have had them closer together and deal with issues all at once instead of over and over again
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Old 10-15-2007, 11:07 AM   #19
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Twins. Hooey. Congrats and good luck.

I don't know if I can agree with Beer man's assessment that the first two months will be the best of your life. I was a deer in the headlights. It was way tough.... but I wouldn't trade the little turd for anything.
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Old 10-15-2007, 12:30 PM   #20
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Twins are fabulous. It will be hard work, but you will love it.

Quote:
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The plan was to drop 401k percentage for me from 11% to 6% when baby comes... that 5% raise covers some of the expenses. Cutting my wife's Roth contributions accounts for much of the other expenses we are expecting.
Don't be too quick to cut any tax-advantaged saving. Unless you were cutting expenses to the bone before, you may find that a lack of eating out, drinks with buddies, or whatever other stuff you don't have time for anymore, makes kids not really all that expensive.
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