The Cost of Having a Family & a Career
<div class="user-question">Hi Frich! I’ve been in a committed relationship for almost 5 years now and also have a career I’m excited and passionate about. However, I recently turned 28 and for the first time am seriously starting to think about my “biological clock”. I think I’d like to have kids one day, but I don’t want to rush it. But I also don’t want to wake up one day and realize that it’s too late for me. At the same time, I’m only recently feeling like I have a solid grasp on my investments, savings, and slowly building up my retirement money. Long story short – how does this math change if I have a baby? How much would that actually cost me? And what about freezing my eggs? I don’t really know how much that would cost and if it’s worth it / needed at this age. What do you recommend?</div>
Egg Freezing! Something I happen to be an expert in (although not by choice). It’s completely understandable that you’re starting to think through family planning. My general advice on this for anyone with ovaries, above all, is to freeze your eggs as soon as you can afford to… Many of my friends changed their minds later in life to have kids after saying they didn’t want any for years, and wish they had more eggs to attempt conception, so having the option if you can finance it will only benefit you in the future. Worst case scenario, you do have the ability to donate or destroy your eggs should you choose not to use them. However- this begs the question you asked: How much does this all cost?
First - a little background on myself and why I happen to know quite a bit about egg freezing. I attempted to conceive a long time ago, and after several diagnoses and trying to have a baby for what felt like a century, my doctor suggested IVF and egg freezing. At the time, I was single, and making enough money to have a decent savings plus a little extra each month. From my perspective, I recognized my egg reserve was a priority to me because I knew I wanted kids and didn’t really care if I had a partner.
👶The Cost, In a Nutshell
To date, I have worked with three different egg freezing / IVF facilities, and the price variance is fairly high. The cost of egg freezing typically includes several components: the medical procedure itself, medications, and follow-up visits. On average, the procedure alone can range from $6,000 to $15,000 per cycle. Fertility medications, which stimulate the ovaries to produce multiple eggs, add another $3,000 to $5,000. Storage fees for frozen eggs can cost between $500 and $1,000 annually. The total cost for a single cycle often falls between $10,000 and $20,000, with many women opting for multiple cycles to increase the number of eggs retrieved. In my life to date, I have had three cycles of IVF, and two cycles of egg freezing.
<div class="frich-tip">We've put together a whole guide that breaks down the cost and options for when you're planning to have a family!</div>
👶General Breakdown of the Egg Freezing Process and Costs
The egg freezing process typically involves the following steps:
1️⃣ Initial Consultation ($200-$500): A meeting with a fertility specialist to discuss medical history and perform baseline tests.
2️⃣ Ovarian Stimulation ($3,000-$5,000): Fertility medications are administered to stimulate egg production.
3️⃣ Monitoring Visits ($1,000-$2,000): Regular ultrasounds and blood tests to monitor progress.
4️⃣ Egg Retrieval ($6,000-$15,000): A minor surgical procedure to extract eggs.
5️⃣ Egg Freezing and Storage ($500-$1,000 annually): Eggs are frozen using vitrification and stored for future use.
Prices vary significantly by state due to differences in healthcare markets and the availability of clinics, but the cheapest I’ve seen is $8,000 all-in with the most expensive running up to $20,000. Additionally, name brand egg freezing facilities such as CCRM cost substantially more, so understanding which facilities have the most popular doctors will also help you in budgeting for your egg freezing. Ultimately, if you are not going for in vitro fertilization, I don’t believe going to a more expensive facility will do much in the way of egg freezing specifically. Reputable fertility doctors who are board certified are really all you need for the egg freezing process. Also- if you have a partner in mind, you have the option of freezing embryos. There are additional costs to consider here, including testing of your partner’s sperm and then fertilization of the egg, but the likelihood of a live baby is much higher if you freeze embryos as eggs tend to degrade when thawed.
The last cost, which no one mentions, is that there is quite a bit of time involved. You will have to go to the doctor for regular visits prior to your egg retrieval procedure, and you’ll be taking drugs for a few weeks of your cycle. So if you are considering traveling to have your eggs frozen, keep in mind that you won’t be able to fly in and fly right out- it will take about 2 cycles for your doctor to prepare you and retrieve your eggs.
👶Did you know? Some Reasons Your Egg Freezing May Be Covered
Insurance coverage for egg freezing is limited but growing. States like Illinois, Maryland, Massachusetts, New York, and New Jersey have laws mandating some level of fertility preservation coverage, particularly for medical reasons such as cancer treatment. However, elective egg freezing for non-medical reasons is rarely covered. Women should review their health insurance policies and consult their employers, as some companies now offer fertility benefits as part of employee wellness packages. If you’re unsure, it’s worth asking! I once made it into the news because I negotiated egg freezing for the women at my former employer. Here’s the playbook I used:
1️⃣ When negotiating my contract, I specifically asked about benefits and if egg freezing was included. When they said no, I asked for coverage for all women- including a cycle I wanted to complete prior to my start date- in lieu of a signing bonus.
2️⃣ In the scenario that they’re not willing to offer the benefits to everyone, don’t hesitate to ask for coverage for yourself and indicate it as some form of joining bonus. The more we ask, the more the tide will turn in our favor.
3️⃣ As soon as I joined, I codified our benefits with our HR person and made sure it was widely known that fertility benefits were now available at the company. To this day, women I once worked with there send me a note and tell me they had coverage through the policies I helped cement. It is truly one of my greatest legacies in my career.
I have heard of companies like Cofertility, that allow a patient to freeze their eggs for free in exchange for half of their retrieved eggs being donated. There’s a lot to consider there, but as someone who struggled with fertility issues, if you think you’re a fit for the cause, I encourage you to check it out.
👶Practical Financial Steps When Considering Egg Freezing
If you decide you want to freeze your eggs sooner than later, here are a few helpful tips on getting yourself educated and on the right path:
1️⃣ Start a Dedicated Savings Fund: Set up a separate savings account specifically for egg freezing. Automating regular contributions can help accumulate funds over time.
2️⃣ Research Financing Options: Many fertility clinics offer financing plans or partnerships with lending companies to make the cost more manageable. Additionally, some health savings accounts (HSAs) or flexible spending accounts (FSAs) can be used to cover parts of the procedure. Lastly, many benefits providers through employers offer discounts through partners.
3️⃣ Compare Clinics and Costs: Research multiple clinics and request detailed cost breakdowns. Some clinics offer package deals or discounts for multiple cycles, which can result in significant savings.
👶Resources for Women Interested in Egg Freezing
I found much of the information I was told or taught to be overwhelming during the process. Here are a couple of resources that I found particularly helpful when I was researching the subject:
- Society for Assisted Reproductive Technology (SART) (www.sart.org): Offers clinic locators and success rate data.
- Progyny (www.progyny.com): A benefits concierge for women seeking help in fertility and beyond.
- Infertility (www.cofertility.com): A platform that allows you to freeze your eggs for free if you donate the other half of your eggs. Additionally, if you are ever looking for an egg donor, they have you covered.
Btw - here's how others are doing👀
How do you think your income compares to your peers?
💸42% I think I make more
🫂35% I think I earn similar to my peers
😓23% I think I earn less
Freezing eggs can be an empowering choice if you’re contemplating any form of family planning. I don’t really think there’s a perfect age to freeze your eggs, but I will say my eggs that were frozen when I was 25 held up quite a bit better (they are tested once thawed) than the eggs I froze at 32. And for what it’s worth, I didn’t have a baby until I was over 35! So truly, I don’t believe anyone needs to be in a rush to do anything unless they feel it’s the right moment to do it. I know this doesn’t answer the question about saving up for a baby (that part is much more invasive and I’m saving it for another write-up), but I think solving for whether you want to save eggs for later is the first step in the journey. I hope this helps in your decision making, but as always feel free to message me online if you have more thoughts or questions!
Saira Rahman
VP, New Investor Initiatives - Fundrise
