Long gone are those visions of yesteryear where women got married early to start a family in the suburbs while waving to their husbands from the door as the men went off to work. Today, there is so much more to becoming a mom than ever before. From obvious financial implications to rising costs that outpace inflation on top of crushing debt. Add to that a Biological Clock and scientific breakthroughs that attempt to push that back so women can be more established – mentally, physically and financially before entering into motherhood. Don’t worry, Kristine breaks it all down, from a first-person point of view with extensive knowledge as she celebrates “Mom’s” and all the women who pitched in to make us each, who we are today. Happy Mother’s Day to everyone – from your friends at Stiles Financial Services.
Call your Mom. Hug your Mom. Tell her “Hi” from us.
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Greetings all, I’m Kristine Meyer, retirement plan specialist here at Stiles Financial Services, I’m also a doting mom to an amazing 9-year-old daughter. Mother’s Day Weekend is one that I especially look forward to because of the number of hurdles and expenses that it took to get here. So it’s no surprise that in this week’s Financial Flash Report, I’m going to focus on Moms. Specifically, the DILEMAS that modern women face when it comes to planning their future – around if – and when – to step into motherhood.
Being a mom is one of my greatest thrills, but the decision to bring another life into this world was not the easiest decision to make. There’s emotional, sociological, and of course, financial considerations, like the cost of raising a child through the age of 18. There’s the cost of daycare or lost wages if you decide to stay home. And if IVF is a need, the costs can be extensive and add up quickly. So let’s dive in and break it down.
The facts show us that the average age for the birth of a first child has climbed over the years from 21 in 1970 to 27 in 2022. And in 2023 there were more births by women over 40 than under 18. This is likely due to several factors including “settling down” with a domestic partner at a later age, to have clarity around how they envision their life, career, and the desire for more financially stability prior to motherhood.
For many young adults, the traditional timeline of: Get married, buy a home and have a baby – doesn’t apply. Owning a home is harder than prior generations due to crushing student loans and home loan rates that make it more challenging to get that first home.
Focusing on a career can help the aspect of financial stability to save for a home and also because, well, let’s face it, kids are expensive. A 2025 study from Lending Tree said that from birth until age 18 the average cost is $297,674 per child, up 35.7% since their 2023 study. This equates to approximately 22.6% of annual income on basic annual expenses. And that’s just for ONE child.
Another career factor is where to work. If you ask young people looking at potential employers and jobs, benefits matter a lot. Things like paid parental leave, childcare allowances, and flexibility to cover the non-pecuniary parts of having children with things like hybrid work and a culture that understands that the employee is a whole person not a seat holder.
Deciding to stay in the workforce after having a child is one of the biggest decisions. Childcare can cost as much, if not more, than a salary or a mortgage so in the short term it seems like staying home allows for a quicker bond with your newborn while also being cost-effective. However, there is an opportunity cost to leaving the workforce to work in the home sector. It is not just lost earnings, those lost earnings lead to lost savings and social security benefits for retirement, loss of staying current in your field of work, thus re-entering the workforce at an even lower level and lower salary then where you left off. When we talk about investing, compounding interest is a large part of the long-term strategy, so leaving the job market is similar to being out of the stock market. While you may not lose money, you miss out on the growth when you’re not in it.
Now, let’s talk Biology. Even as society has advanced in life quality and longevity, the age range when women can have children has remained a constant. Enter the Biological Clock into the equation. As women age, so do their eggs and when peak fertility age is in the 20’s, but peak earning years is in your 40’s, we have a dilemma. Sort of a “chicken and egg scenario?” (Yikes)
Scientific advancements allow us to “freeze” a component of that clock by harvesting eggs and cryogenically put them aside for later, but that comes at great expense. With a cycle of egg retrieval costing between $10,000 and $12,000 plus annual storage fees that can be in the thousands. That’s a large investment in a future possibility – far from a guarantee. Reproductive medicine is continuing to advance, even since I went through IVF ten years ago, however the cost has not come down making it unattainable for much of the population and making motherhood that much more elusive. We will see if insurance companies begin universally covering IVF like has been teased about in executive orders. But so far, no details.
It goes without saying that Motherhood is a journey and experience unique to each woman, and it can be heavy and hard at times, with multiple barriers and long-range consequences. So, on this Mother’s Day weekend, let’s celebrate the women who made us who we are today. And that goes beyond our moms because we all contribute in our won ways, and as the saying goes…it takes a village.
Thanks, and we will see you next time for another financial flash.
