At the gym the other day, I read a magazine article highlighting the increase in the number of happily married couples who, even in their 20s, have decided not to have kids. Many pointed to the stress, difficulty and expense they see parents incurring to place their kids in good care, education and enrichment programs.
That same evening, I watched the first episode of the new Bravo series "Pregnant in Heels," where one millionaire mother hired a think tank and multiple task forces to help her select the baby name most likely to get her as-yet-unborn son elected as U.S. president in 2060 (I’m not kidding), and another nine-months-pregnant woman asked for a nursery that didn’t look like a baby lived in it, because she and her hipster husband hate it when people make their babies the center of their lives.
Truth is, kids do make people crazy; and having them makes people do crazy things. In "What Investors Really Want: Discover What Drives Investor Behavior and Make Smarter Financial Decisions," author Meir Statman devotes a chapter to the beyond-rational value that many, many investors place on investments in their children and families, largely centered on their educations.