Can you still Be a "Sports" Parent and Retire Some Day in the Future?
A recent survey showed that 27% of the parents polled were spending $500 or more each month for their kids to play sports.
This article refers to those parents as "sports parents." This article printed the following quote from a financial executive at TD Ameritrade:
"To keep your money priorities straight, Luber recommends committing to a plan. Start by identifying your financial goals and creating savings buckets for each of them — your retirement, your children’s education, vacations and sports, to name a few. Be sure to fund those priorities in order of importance, putting your retirement first, Luber said."
With all due respect to the financial executive, what if you truly value the sports fees and costs more than retirement? What if you are willing to delay retirement because of your dedication to kids sports? This is Pop Culture Finance's typical way of imposing their values on the American Consumer.
If you value kids sports more than retirement, then spend your resources accordingly. Yes, commit to a plan. However, make it a plan of priorities and goals based on YOUR values. After all, we are only in this kids season of our lives for a while. Don't let Pop Culture Finance "should" you into doing something. If you want to delay retirement, then develop a plan that allows for sports fees for the kids and you hitting retirement expectations at a later date.
As for Pop Culture Finance, stop shaming your readers by telling them what they "should" do. If you "should" do anything, then spend your resources on what you truly value. If that is the right value hierarchy for your life, there will be no conflict with how you are spending your money. If there is conflict, reorder your values to the point the conflict goes away.
Just remember something. If you want to see what you value the most, follow the spending. Where you spend money is where you place your values. Your credit cards and bank statements hold the truth to your values.