Common Structure of Family Career

by Jose Lee July 25, 2017

Work-Life Balance Structure

Balance between work and home is the most challenging task for most dads. We are demanded for more productivity at the workplace and more attention back at home. One of the most important decisions we can make to achieve this balance is how we structure our families. Based on my research, the structure of family career is divided into two categories and we shall explore them in details below.

Traditional Sole Income

The structure of living on a single paycheck is commonly adopted by our older generations. It worked with husband being the sole breadwinner and wife taking on the role of care-giver for the children. The upside is that children are taken care by a parent at home as opposed to being sent to child-care centre or put in the hands of relative. On the downsides, husband will be in intense financial pressure, less likely to change employment, missing out on family time. The wife is overwhelmed while raising children and losing touch with the society.

Dual-Earner

It is the dads’ job to support the family financially and wives’ job to take care of the children traditionally. Time has changed with women getting themselves educated and striving for equality. It is necessary for the the family structure to keep up with the constant changes of the world. The modern structure known as “dual-earner” which both parents will share the financial burden and parenting. This benefits the husband to switch career or start a business. The major challenge for this structure is more opportunities to disagree over what needs to be done and who needs to do it.

Which structure is better?

There is no absolute answer to which family structure is better. It greatly depends on which of them works for you better in the long run. My own family runs on the “dual-earner” structure which my wife and I have agreed upon. It allows us to advance each of our careers thus improving the family financial status. Most importantly is to keep ourselves out of postpartum depression and anxiety as never know how well we manage our mental states.

 

The main objective is to find a balance between work and home. I encourage all parents to take action and start planning today.

 

Myths of Parenthood

by Jose Lee July 8, 2017

Low birth rate is one of the key future challenges in Singapore.

For a dad-to-be like me, I can understand the concerns of the millennials (also known as Generation Y) when it comes to starting a family. These are 3 common myths of parenthood nowadays in Singapore.

# Myth 1 Having a baby in Singapore is not cheap

The cost and expectation of having a baby in today context is much higher compared to our older generations. The first thought naturally would be money. For instance, each prenatal checkup typically range from $100 to $200 and estimated delivery charges at $5000 in government hospitals. Government is giving out baby bonus of $8000 to make infant and childcare affordable despite of the considerable amount of fees before the baby is born. Dismiss the myth and probably now is a good time to have baby.

# Myth 2 Scared of losing freedom with a baby

Travel and late night movies are popular hobbies in Singapore. Having a baby might trigger the change of hobbies to stay-cation and  netflixing at home. Baby sitting around the clock shows sign of losing freedom to the millennials. The sense of freedom is not lost permanently just for a good while. Learn to be productive by working less and getting more done simply get around the myth.

# Myth 3 Having kids is not the smart career choice

It is quite common to have people prioritising career over kids. Career advancement often requires extensive travel, long commutes and long work weeks that sacrifice time with kids. It is no longer just being responsible to yourself but also your family.  Singapore, known for its longest working hours in Southeast Asia is moving away from traditional work culture. Work from home and work-life balance are made possible through internet of things. Surveys indicated an increasing demand for work-life balance before job seeker accepts an offer. Ministry of Manpower (MOM) is also encouraging companies in Singapore to introduce work-life programmes within their workplace. Don’t wait until the right time in your career to have a child or it will never come.

 

I hope that this article will help couples to clear misconceptions about having a baby and start taking action. Till then, stay tuned for my upcoming post next week!

 

 

 

My First Blog Post

by Jose Lee July 2, 2017

There is no such thing as a perfect parent. So just be a real one

Who Am I?

Hello readers! I am Jose, owner cum blogger of ragtoriches30.com. I have also played multiple roles that include a son, husband and dad over my thirty years of life experience. I came from a humble family which expenses need to be tracked closely and life was not easy. My parents taught me to live frugally during childhood compelled me to save money. My job is an engineer drawing an average salary and saving is still possible with these commitments.

Why Am I Blogging?

As a dad-to-be myself, financial stress and loss of freedom start to creep on me. The fact is that the amount of information outpaced our abilities as parents to absorb each day. Parenthood should be a joyful journey for most parents out there, neither stressing over the ability to raise a child nor jeopardising parents’ early retirement. Early retirement is a far and impossible goal perceived by most parents and that’s the reason of this blog, debunking the myth about parenthood.

What Am I Going To Be Blogging About?

Most of my posts will be about parenting, spending habits and retirement planning. As a parent myself, I will be exploring and sharing ideas about fathering. I hope that my own experience will benefit and trigger actions for many parents or parents-to-be. If you like this article and would like to learn about parenting, I sincerely invite you to join me.