I have a 3yr old daughter and a 17 month old son. I know there must be other dads taking Level II, but sometimes this site makes me feel really old(I am 32yrs old). I haven’t started studying yet, but my plan is to study 2hrs/weeknight after the kids go to bed and then try to put in 5hrs on the weekend. I don’t know if this will cut it at Level II but I can’t stand the thought of missing my kids life when they are at such great(and important) ages. Wish I had done this 10 years ago while I was single, fresh out of school and no kids. Any advice from other dads with small children… how do you plan on balancing study/family for Level II and III? I found this site right before Level I Exam last year, so I am excited to be a part of it this year for Level II.
Cry me a river. I am 43 and I don’t just feel old on this site, I am old. I have 2 kids (8 and 10) and a very supportive stay-at-home wife, so finding the time shouldn’t be a problem. Finding the brain cells and the motivation will be the challenge. I always consider the upside of my situation: I am not in Iraq, I don’t travel very often and I don’t work 60 hours a week. Bottom line: I get to see my kids every day regardless of going to the library until 8:00 p.m. Even if it only for a few minutes before they go to bed, I get to see them, find out about their day and on most days, I share dessert with them. Does it get any better than that? A couple hours a night plus 5 on the weekend should be enough. Of course that is about what I did and got my lunch handed to me last time. Regardless, you can balance it out – many, many others have done it.
I know that many others have done it, and I am definitely not crying…just looking for ‘helpful’ advice on what others candidates with kids are doing. Brain cells are not the problem for me, and motivations isn’t either. I do work 60-70 hours/week and travel quite a bit. I definitely feel like it gets better than spending “a few minutes a day” with my kids. I do have family in Iraq, and a father who was just diagnosed with a terminal illness and will need full time care for the duration. I am also not looking to get my lunch handed to me, but rather pass Level II the first time so that I can spend more time with my kids(which was the whole point of the post).
train, similar situation here. 32 years old. have a 7 month old daughter. (born 10 days before level 1 exam day last june) i’ve already started studying. have been doing 1.5-2.5 hr per day and a bit more on teh weekends but intend to turn it up after jan 1. (probably like 3 hours a day and at least 5-7 on the weekends total) it does kill me not being able to spend more time with my daughter. i’m finding there is no easy answer, just have to bite the bullet and do it. i can imagine it being more difficult with a 3 yr old and a 17th month old though. hang in there. i think if you start now and stick to your intended schedule and maybe do practice exams for the last month, you can do it. my friend who received his charter was on that schedule without any kids and it worked for him. let’s bite the bullet now and pass on our first try. good luck.
I’m 29 and this is my 4th time sitting for L2, albeit with a 14 month old this time. It is hard to spend time away, but in some ways I am looking at it as something to keep me focused. I’ve promised my wife I won’t disappear all day sat / sun like I have in the past, which I did to make up for a lack of time during the week. I told her I will spend no more than 2-3 hrs each wknd morning and do the rest on weekdays before work or after my daughter is in bed. I plan on 2hrs per day until March and then steady increases until the exam. I look at this at motivation on those mornings I don’t want to get up or if I’m travelling and would rather just read a magazine on the plane.
I’m a Level II MOM (why are we ignored?) of a 10.5 month old. I’m 30. I’ve already started reading on my commute (train ride) and on flights when I travel. I look at my son and dread when I have to start leaving him to go to the library. I am thankful I have a supportive husband. I have to suck it up and pass so I don’t have to repeat. Just thinking it’s a short term sacrifice for long term gain. I’m sure it’s possible.
Train: I didn’t mean to be cheeky, and I apologize if it came across that way. My internal struggle regarding the kids is always thinking I would rather be with them than at the library or office conference room. My point about Iraq and traveling was to make sure you emphasize the positives when making any life balance choices. CFASF1 has the right attitude - keep to a schedule, and be sure to get the wife fully on board so hours spent away from home are constructive. You want the wife to say “Why are you home so early. You should be studying.” You do not want to hear “Where have you been? This exam is really getting old.”
Baby I is on the way, due 5/21. CFA level II exam 6/7, and graduatuation from MBA school 7/7 If I can survive those 45 days from May to July, I will be golden. Not looking forward to L3 with baby in tow, but my wife is great so we should be okay. Good luck to all other parents.
I have two great gifts in 2007. One is the pass of Level I on June. The other is my second child who is now 30 days old. With his 3-4 hours feeding interval, it is difficult to study at home, as my wife wants me to take care of the baby when I am in home. It is understandable as she needs rest. So my study is really stagnant for this month. Holidays do not give me any time to study as kids have many activities. Anticipating this, I have started my studying very early. I hope I can spend most of the time to study in last two months. In the meantime, I will try squeeze more time to study, e.g. lunch hour. I can also read the CFA material so as to make my baby sleep. The postcard from CFAI is quite true though - Find time to study when you have no time. By the way, ask the kids grandparents to help you to take care of the children if you can.
Thanks for all the posts from candidate parents. I guess the bottom line is that we are doing this for our families, and we have to suck it up and get it done no matter our circumstances. goes to eleven - Sorry for getting defensive… I guess you struck a couple of nerves with your first post. Your point is well taken that we must be optimistic and see things with some perspective. rr1102 - Didn’t mean to leave out moms. I know that my wife has the hardest job in the world raising two little ones(and I mean that sincerely!) Good luck to all, and again I am really looking forward to using this site as a resource this year.
I definitely feel your pain. My wife and I had our first child in October. She’s still out on maternity leave, but I know she needs me to take care of him so she can get some rest while I’m home. I’m fortunate that my job is pretty laid back, so I can find some time to study while the boss is away. I’m studying about 8-10 hours per week now, with a plan to bump it up to 12-15 starting in January. I’m making good progress at this point, but I’m not getting in the question practice that I think I should. It’s hard studying at home while my son is awake, the distractions are hard to ignore. I just need to remember why I’m studying so much and it reinvigorates me.
I’ve got a bit different profile than most on this forum - I’m a University professor who’s taught finance for about 8 years, and I have two kids (7 & 9). The 9 YO is a cancer survivor who was diagnosed at age 4 and went into remission at about age 6 (at least we think he went into remission at age 6 - we actually couldn’t be sure until almost 3 years later, which is a whole 'nother story). But he’s clean now, and She Who Must Be Obeyed and I put an extremely high value on time with the little barbarians. I’m also presently untenured (in my 2nd year at my current school), so I put a lot of time in on research/publishing. So there are a good number of balls to keep in the air. But that’s part of life. I’ve taught a good percentage of the material in L1 (and some for the L2 curriculum) for one of the major prep providers (in the last two years I’ve taught modules on Corp, QM, Equity, & PM). So I tried to pass L1 with minimal prep. Even so, the FSA part kicked my hiney. We’ll see how that works out (fingers tightly crossed…). Assuming I passed, I’m currently putting in about 6-8 hours a week for now, and ratcheting it up gradually as the time gets closer. I’ve already covered Econ, QM, and Equity, but I’m expecting to realy have to slog on the FSA part. Luckily spring semester classes at my school end the first week in May, so I’ll be able to cram for the last 4 weeks before the exam. Even for someone who teaches some of this material in the classrrom (I’m an investments and Corp Fin guy), it’s pretty amazing how much material there is in the CFA BOK - there are something like 500 LOS for L2.
29 years old and a father here. I had an interesting 2007. I worked in the accounting world for about 5 years I was determined to enter the finance area. I passed level I in 2006, which was a good feeling. After the exam, my wife and I decided to have a baby. In September she became pregnant and we were very excited. I thought about not taking level II in 2007, however, I thought for sure my chances of getting a finance job would improve if I signed up, so I did. In January, my wife was put on 24 hour bed rest. On March 26th, I landed an equity research position. On March 30th, my daughter was born pre-mature. On May 30th, an announcement was made that my company was bought out by a bank… Needless to say that with the sleepless nights, working 50-60 hours a week, trying to study and then on exam day wondering if I had a job, I didn’t pass. I’ve realized that the CFA program opens many doors and I plan on passing. This is for my wife and daughter, because I know it will be helpful long term to have the charter. I plan on studying about 10-15 hours a week, probably an 1-2 hours after my daughter goes to bed during the week and about 5 hours total on the weekend. Spending time with my daughter is very important and just think, a year from this June, we can be finished with this program and those extra hours will/can be used to spend time with the family. This is only temporary. Good luck to all.
Hi there CFA mums and dads! I’m a 32 yr old dad with a curious and bubbly 2.4 yr old daughter. My salute to all as we all know how tough times can be with all the commitments with the various roles we play in our lives. Yup as difficult as it gets, I believe we all are doing this to improve ourselves and for the family. I’d like to share a formula that I’ve come acrossed. Nope its not one of those quants but rather E + R = O in a Jack Canfield book. Event + Response = Outcome. Simply put the outcome of every event not only depends on the what has happened but rather how we respond to it. A food for thought on the last day of 2007. I wish all the very best in 2008 and hope we pass with flying colours as this one’s for the home team!
I am an L3 candidate - happened to come across this thread… I am 37, have two kids, 6 and 2 - passed both L1 and L2 first attempt and hoping to wrap it up in 2008. The preparation pattern for people in this boat may have to be quite different from the single 20 something group… 1) Elegant preparation is a luxury - finding time to go to a library or without disturbance for hours together is not feasible - prepare wherever, whenever possible - be it in trains, car, lunch break, anytime. 2) Do not have any planned break days - prepare all 7 days where feasible. The breaks will automatically happen when workload spikes or when kids fall sick. 3) Student syndrome - cramming towards the close may not work - there are too many variables outside the control (workload, layoffs, family, children, …) - better prepare with a near flat workload assumption. 4) set intermediate milestones - say, finishing x study sessions this month - if you are slipping behind, take a day or two off from work to stick to schedule. 5) cut out distractions as much as possible - drinking, TV, day trading, phone, internet, weekend get-togethers… 6) do not penny pinch; buy new study material. Good luck.
I’m old (42, just behind you goestoeleven), a mum of 2 kids (13 and 6), work full time in the industry and this is 2nd time for Level 2. I’m very fortunate that I have an extremely helpful husband and will be the first to say don’t go into this without your spouses support. I agree with busy_people, study everyday, even if it’s only a couple of hours but I also negotiated with my husband a couple of weekend days per month where he takes the kids out of the house and I have a solid 5 hours to study. This does help, especially near the end.
Great advice busy_people. I’m 36 and have a 10 month old, taking LII for the second time and hope to god I make it through this go-around.
Waiting to find out if I am a Level II candidate, but I am 34 with a 16 month old at home. She’s a big part of my motivation to get through this program.
BadBeat - Your story sounds remarkably similar to mine, except you are further along in it than I am. If you don’t mind, could you send me an email at email@example.com? I would really like to compare notes with you as I try to figure out my next moves. Thanks! BadBeat Wrote: ------------------------------------------------------- > 29 years old and a father here. > > I had an interesting 2007. I worked in the > accounting world for about 5 years I was > determined to enter the finance area. I passed > level I in 2006, which was a good feeling. After > the exam, my wife and I decided to have a baby. > In September she became pregnant and we were very > excited. I thought about not taking level II in > 2007, however, I thought for sure my chances of > getting a finance job would improve if I signed > up, so I did. > > In January, my wife was put on 24 hour bed rest. > On March 26th, I landed an equity research > position. On March 30th, my daughter was born > pre-mature. On May 30th, an announcement was made > that my company was bought out by a bank… > > Needless to say that with the sleepless nights, > working 50-60 hours a week, trying to study and > then on exam day wondering if I had a job, I > didn’t pass. > > I’ve realized that the CFA program opens many > doors and I plan on passing. This is for my wife > and daughter, because I know it will be helpful > long term to have the charter. > > I plan on studying about 10-15 hours a week, > probably an 1-2 hours after my daughter goes to > bed during the week and about 5 hours total on the > weekend. Spending time with my daughter is very > important and just think, a year from this June, > we can be finished with this program and those > extra hours will/can be used to spend time with > the family. This is only temporary. > > Good luck to all.
I am a 30 year old mom of a 3 year old and planning for the second baby. At home right now owing to shifting to US recently with my family with no work permit as of now. used to work as Equity research analyst before. Started studying now in Jan and since its my second attempt , will try to make it this time. Good luck to all parents and Keep up the high spirits!