Barefoot and NOT Pregnant

Dear Scott,

For a decade every penny we have saved has been a prisoner to building financial security for our kids. But, as it turns out, there will not be any kids. One in six couples struggles with infertility – and we are now part of that ‘one’. Being childless has turned all our plans upside-down. We earn a combined $350,000 a year and own a family-sized home in the ‘burbs far from the city where we work. Do we sell our large house? Or rent and buy investment properties? Or buy a penthouse and have a huge mortgage because ‘YOLO’?

Marnie

Hi Marnie,

You may not be having children, but you have achieved financial security for your family.

Here’s my thinking:

Even though you describe the last 10 years as a ‘prison’, trying for kids gave you both a single, clarifying purpose.

Now you’re facing what psychologists call ‘the paradox of choice’, where too much choice can sometimes prove to be overwhelming, and debilitating.

And with a paid off home, $350,000 a year coming in, and no kids to spend it on, you have plenty of choices!

There are three ways to overcome the paradox:

First, give yourself the gift of time – don’t rush into making decisions.

Second, keep a diary on your bedside called ‘choose your own adventure’ and write down plans that come into your head (s) over the next 12-months.

Finally, once you’ve made a joint decision on where you want to live and what you want to do, go all in.

Scott