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Having kids late can wreck finances

There are great reasons to wait to have kids. Older parents are often wealthier, more mature, and further along in their careers. But becoming a parent late in life can also really complicate your finances.

By Ben Steverman | Updated on May 07, 2015

(Bloomberg Business) — There’s more and more gray hair at parent-teacher night. In the past 20 years, fewer Americans have been having kids in their teens and 20s and far more are becoming parents in their late 30s and 40s. 

Since 1995, the birth rate for mothers in their late 30s is up 45 percent, and moms are 58 percent more likely to give birth in their early 40s. Giving birth in your late 40s is still rare but a lot less so: In the past two decades, the birth rate per 1,000 women age 45 to 49 has almost tripled, from 0.3 percent to 0.8 percent.

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