Community› The Bump Message Boards› Adoption
Adoption
New Discussion

finances and adoption

PrincessShay80PrincessShay80
in Adoption
What are they looking for? we are looking into domestic adoption with Catholic Charities, and I am concerned.  We have taken a beating with the economy.  We own our home and a second home that we rent out.  We have money in  our 401k (although it has decreased due to the stock market), life insurance, and health insurance. Are they going to run our credit? I feel like we need to have a Bill Gates bank account in order to qualify. Is this true? thanks ladies!
Our Journey from two to three! 3 IUI's, 2 IVF's, decided to move to foster/adopt. 12/24/2009 Baby C born, 2/1/2010 placed with us, 5/17/2011 Adoption final- we are finally a forever family! Baby Birthday Ticker Ticker
Report Reply to Post

Re: finances and adoption

  • Dr.LorettaDr.Loretta member

    You don't need to be Bill Gates to adopt. You need to show you are financially able to care for a child.

    Talk to CC and see what they're looking for. IMO it sounds like you're fine.

    Report Reply
  • Loading the player...
  • JOEBunnyJOEBunny member
    You sound pretty good to me.  I know people who had fundraisers to adopt.  Don't forget to look into the adoption tax credit and your employer support.  My former employer use to give at least $5K toward adoption expenses.
    Report Reply
  • karalee402karalee402
    As far as what a social worker is looking for in the home study - don't worry at all!  All they want to see is that you are financially and emotionally capable of raising a child.  We've home study approved people who live in apartments and who didn't have a 401K - it's not a requirement.  Sounds like you're in fine shape to be able to love and care for a baby! :)
    "Our children are not ours because they share our genes... they are ours because we have had the audacity to envision them. That, at the end of the day...or long sleepless night, is how love really works." Adoption Consultant Blog
    Personal Adoption Blog
    image
    Report Reply
This discussion has been closed.
Choose Another Board
Search Boards
"
"