Episode
Can You Afford Kids AND Retire Early? Be Intentional When Having Kids.
- Podcast
- Everyday Money Heroes
- Published
- Oct 17, 2025
- Duration seconds
- 906
- Processing state
not_requested
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Summary
Want to grow your family without wrecking your finances? In this episode of *Everyday Money Heroes*, host **Nik Johnson** breaks down one of the most overlooked parts of financial independence—**family planning**. Whether you’re planning for your first child or expanding your family, this video will show you how to make intentional financial decisions that protect your long-term goals and keep you on track toward **financial freedom**.Family planning isn’t just about deciding *when* to have kids—it’s about being strategic with your **budget, debt, and income** before taking that step. Nik reveals eye-opening data from **Northwestern Mutual** showing that it costs an average of **$320,000 to raise a child from birth to 18**, and that child care alone can cost over **$1,400 per month** for infants. By understanding these costs early, families can **avoid financial stress** and make better choices about when and how to expand their households.Nik also dives into the often-overlooked topic of **child support**, explaining how average payments can impact financial goals and why being intentional in relationships and planning is key. He shares actionable strategies for **reducing child care costs**—including **dependent care flexible spending accounts (DCFSA)**, **nanny shares**, **staggered work schedules**, and **family-based support systems**. These methods can help parents stay financially stable while still providing quality care for their children.The message throughout the video is clear: **intentionality leads to independence.** Financial independence isn’t just about investing in a 401(k) or paying off debt—it’s about making every decision, including family-related ones, with purpose and foresight. As Nik emphasizes, “We don’t want life to just happen to us; we want…