We want to be clear here with this post – the number one reason most surro-moms choose to be surrogates is not because of compensation from surrogacy. It’s to give and experience the joy another family has when they realize they can finally make their dreams of having a family a reality.
The average surrogate is paid $25,000 to $60,000. That’s a lot of money that can be put toward the financial goals you may have. Let’s take a look at 4 ways you might use the compensation from a surrogate journey:
1) Invest for the Future
Are you currently putting money toward any retirement plans you have? If not, you might want to consider using a percentage of your compensation to invest in your future.
Your options could include a workplace retirement plan such as a 401(k), an Individual Retirement Account (IRA) that anyone can open, or perhaps a regular investment account you have with your spouse.
Investing for the future doesn’t have to mean retirement, either. If you have children of your own (as all surrogates do) have you thought about helping your child fund their college expenses? You could open a custodial plan for them and invest the money there as well.
2) Invest in Yourself
Are you a stay-at-home-mom who wants to get back into the workforce after your surrogacy is complete? You might want to think about investing in yourself in the form of education.
You don’t necessarily need to go back to college to get a degree, but you could look into getting certifications or taking courses online. Just about every topic is available to study – even film, photography, graphic design, and animation to name a few.
Or, maybe you’ve discovered you love a certain hobby and want to monetize it. Think about educating yourself on running a home-based business. You could buy the supplies you need to open a shop on Etsy or sell locally. If spending time with family while still earning an income is a priority for you, this is a great way to do it.
3) Fund Your Savings Goals
It’s important to think about your larger savings goals – the ones that might seem impossible to complete.
For example, saving for a down payment on a house isn’t easy. It’s recommended to have 10% of a home’s purchase price saved up. If you’re looking at a house that costs $250,000, you’re looking at a $25,000 down payment. That can be overwhelming to stomach.
$25,000 to $60,000 can go a long way toward making your own dreams a reality, especially if you want to buy a house, need a more reliable vehicle for your family, or just want the financial security to stay at home with your kids.
4) Give Back
If you’re like most surrogates, you didn’t enter into surrogacy with money on your mind. You did it because you wanted to take part in creating a miracle.
That’s why we mention giving back – if you don’t need the money, consider donating it to your favorite charitable cause. You’ve already made a great difference in the world, why not continue to spread the love?
When you receive a single large payment, whether it be from an inheritance, a bonus, or surrogacy, you should look at the big picture. It’s tempting to think about all the things you could buy with that amount of money, but it’s responsible to think about how to use it wisely!
Again, we want to emphasize that money isn’t the end goal surrogates should be working toward. All of our surrogate mothers are overjoyed when they can help make dreams come true for couples who want children. In fact, most of them would do it for free. We are simply giving surrogates guidance on how they might choose to spend their compensation.