It’s a pretty awkward financial topic today guys. Feel free to read this under the guise of night.
I told my husband yesterday morning that I was planning to write an article about our plan to freeze his little spermies. He gave me the saddest puppy face, rested his head on the edge of the bed for 2 minutes, looked up, and financially agreed.
He asked, “Is that related to personal finance?”
I said, “Well it’s personal and it has the word ‘banking’ in it!”
I wouldn’t say this topic is a specialization of mine. But I did look into tons of research on it for me and my husband.
I went to a board game-themed dinner gathering with some of my husband’s coworkers.
Something I remarked about this crowd…because I’m creepy, in a group of 14 or so intelligent, well off, board game-loving adults in their 30s…none of them had children or even close to considering it as anything but in the far distance.
They were all around my husband’s age of 32. Research has shown that the quality of sperm declines quicker and quicker as you age. A reproductive peak in both genders is around older teen to your late 20s.
I bought up the subject of freezing sperm when my husband was 28 but he was more reluctant at the time.
I was reluctant about being a mom so soon. I wanted to wait but he was older than me by 4 years. Now that he is feeling the sting of 30, I asked again earlier this week and he agreed.
⭐ Relevant Reads:
- What Is The Real Cost of Raising a Child (Done Frugally and On The Cheap)
- 11 Punchable Financial Crimes According to Me
- When Having Too Much Money is Bad (The Cons of Being Rich)
Is sperm or egg banking effective?
In average, a person who tries to get pregnant out of donor insemination has 60 to 80 percent chance of getting pregnant. Patients who use their preserved semen have a 36.4 percent of achieving pregnancy through intrauterine insemination (IUI) and 50 percent through in-vitro fertilization and intracytoplasmic sperm injection (ICSI).
Is sperm banking worth the cost?
The success rate of sperm banking is quite high but the procedure can run up to $375 to $435 per insemination attempt. This is not to mention that a typical IVF would cost around $12, 000 to $15,000 which can really add up to the cost. On the other hand, IUI costs $895 but may run up to $3,000 per cycle if you need intensive care.
Whether sperm banking is worth the cost depends on how successful the insemination is. For anyone who wants to have a family, sperm banking is your last best option at getting pregnant no matter how expensive it is.
It is best to talk with your partner about the emotional and financial consequences before banking your sperm and pursuing an insemination.
How much is a 10 year or 20-year sperm storage?
The average cost of sperm banking ranges from $300 to $4000 excluding any fees for the necessary laboratory processes and artificial insemination. The following are popular sperm storage banks and their corresponding fees.
Fairfax Cryobank is the second-largest sperm storage facility based in the US. It offers sperm banking services starting from $40 for a month to $2,400 for 10 years. The laboratory fees range between $300 and $700 – this includes disease testing, semen analysis, blood panel, and semen handling.
The Sperm Bank of California is a non-profit sperm bank based in Berkeley which is a go-to sperm storage facility for adults who want to conceive through sperm donors. It also offers sperm banking for an initial storage fee of $1,100 to $1, 300 with an increment of $250 (for one sperm specimen) and $450 (for two sperm specimens) per year in the succeeding years.
Xytex is another sperm bank that uses innovative technology in storing its sperm. While there is no record of whether their unique methods increase fertility, they offer a 7-day premium free access for new patients. Their month-long storage costs $75 while annual storage costs $360 billed in advance annually. Other miscellaneous fees range between $75 and $150.
⭐ Recommended Reads:
- How Hubby Made His Money & Became Rich
- Top 14 Reasons Why Some People Don’t Save Money
- 13 Sensible Defining Characteristics Of Upper Middle Class People
NW Cryobank claims to be one of the nation’s leading sperm banks that allow offshore clients to ship their sample specimens for storage. The shipping fee ranges from $85 to $245 depending on the location and courier. The storage fee is $385 for one year, $1,085 for three years, and $1, 585.
New England Cryogenic (NECC) is an FDA-accredited sperm bank that is based in Massachusetts. It offers annual storage for $675 with the first three months being free. Long term storage is available for 5 years at $1,650 excluding other ongoing fees.
Seattle sperm bank is another US-based sperm storage facility with an open ID donor program that lets sperm donors contact their kids upon reaching 18 years old. They offer monthly storage for $100 and $350 for annual storage. Long term storage is also available for 5 years at $1000.
Do some people have more success than others?
Depending on factors like age and fertility status, you may or may not get pregnant at first try. Other people may even take several attempts before conceiving for the first time. If your partner has a low sperm count the chance of getting pregnant is relatively lower.
Your chance of getting pregnant also increases by the number of sperm you store. It is highly recommended that you store at least three to six specimens. More samples allow more insemination attempts, which means your chances of getting pregnant also increases.
Who is perfect for sperm banking?
Sperm banking is ideal for the following persons:
- Cancer patients who want to have kids in the future after having a treatment that may cause infertility such as chemotherapy and radiotherapy.
- Couples with fertility issues who plan on undergoing artificial insemination to conceive such as Intrauterine Insemination (IUI) or In-Vitro Fertilization (IVF).
- Young couples who want to preserve their sperm or egg for use in the future.
- Couples who want to postpone having kids until they reach 45 to 60 years old and plan on having a surrogate.
- Any person who wants to donate his sperm for other people. Sperm donors earn up to $70 for each donation considering they have passed the necessary tests.
✏️ Related Reads:
- Would You Survive a Financial Recession If Economic Collapse Happened?
- I Took The 30 Day No Spend Challenge & This Is What I Learned
Who shouldn’t freeze sperm?
The following persons are disqualified from storing or donating their sperm samples.
Men and women who are suffering from contagious diseases like AIDS or HIV. If you have visited areas with a high risk of AIDS/HIV cases, you may be disqualified from banking your sperm.·Any person who has a history of drug addiction and has used intravenous method regardless of health status.
How to save money on sperm banking
If there are any ways to save money?
Sperm banking is undeniably expensive. But there are a number of ways you can save. For example, you can store your sperm at a reduced rate if you opt for long-term storage. Average monthly storage costs $40 to $80 while five-year storage costs around $1000 to $1,650. If you choose the latter, you will be able to save $1000 to $2, 350.
The number of samples will also influence the cost and storage fees. The average cost for each additional sample is between $150 and $300. You can save by giving only one sample unless you’re suffering from low sperm count then you may be required to give more than one sample.
Some sperm banks also offer 5% to 20% discount for cancer patients. People who are suffering from infertility issues may also get 5% to 10% on fertility drugs. You need to check with some local NGOs in your area to avail this benefit.
You might also want to check whether your insurance cover the cost of sperm banking as part of infertility treatment. Currently, there are 15 states that require coverage for this type of treatment such as Arkansas, California, Connecticut, Hawaii, Illinois, Louisiana, Maryland, Massachusetts, Minnesota, New Jersey, New York, Ohio, Road Island, Texas, Utah, and West Virginia.
Some employers, like my husband’s company, offer incentives for reproduction services such as sperm banking.
Tech companies like Facebook and Apple are offering ‘financial aid’ (aka extra incentive) to working women who wanted to freeze their eggs. That’s kind of cool I think!
Harvesting and storing female eggs are much more expensive than sperm.
But storing sperm does still cost money. It’s not ultra-expensive but it is a cost.
The original depositing trips will be treated on paper like a normal doctor visit and will be free after copay.
We also found out my husband’s employer offered 3 years of free sperm storage, after that it will be out of our pockets.
It’s not a tremendous perk but it’s something to save money. It costs about $400 per year for sperm storage in our local area so technically this perk will save us $1,200. Not bad!
Is it worth the trouble?
That’s a very personal question. Are you asking me? Because I’m going to say yes!!!!!!!!
I’m the girl and I don’t have to do anything. My poor husband will turn into that familiar shade of raspberry when he gets to the lab but he will just have to get over it.
Besides the joy of torturing my husband and all at the same time showing tender loving appreciation for his genes and wanting to preserve him forever…yes I think it’s a small price for a backup plan.
Wait, what do girls have to do?
I’m not going to be participating in any of this nonsense but I watched a part of the video on the female egg process and it’s not as pleasant as the dude’s process of donating sperm. The female reproductive system is a little more cryptic.
When the video said, “they will stick a sharp extraction needle up your…” I was done. Good-bye, good luck with that.
You betterize that science in a decade and maybe more girls will play ball. Eeesh.
Financial Freedom Starts With Saving:
Personal Capital: Sign up and use their net worth calculator for FREE. They are a free financial service platform that helps you analyze your portfolio, retirement, and financial health all on one simple & secure account
Ibotta: I thought this app was overrated before trying it myself. The “any item” promos instantly save you money after scanning your grocery receipt. Ibotta also hosts promos and contests for your team to save more by working together. You can get $10 free if you sign up.
ThredUp: The only online recycle clothing store I currently shop and sell with. Great mission statement, company model, customer service, prices, and selection. Sign up with our invite link and you can get $10 free in ThredUP credit.
Survey Junkie: Survey Junkie is one of the few survey companies that are 100% legit, user-friendly, and great for making extra money. Earn up to $1,000 a month doing surveys online. You can make anywhere from $5-$20/day in your free time.