At what net worth would you consider a full time live in nanny for your kids?

[Anonymous]

Never. Look at the Arnold.

[Anonymous]

Anonymous wrote:I’m not sure there’s an income level at which I’d want non-family living in my home.

Same. And also please don’t confuse net worth and income. I have a high net worth but low income. Nannies are not for me.

[Anonymous]

World Bank/IMF employees have live in Nannie’s and they are not super rich. They pay them $18/hr minimum and sponsor their visas.

[Anonymous]

I had a housekeeper in my childhood in a poorer country, as did all of my friends (embassy kids). We were unusual for not having drivers or nannies. It is not like American domestic help, though. There is a lot more equality in American service work and labor expectations are very different (set hours, overtime, payroll taxes, etc.)

[Anonymous]

Presuming you’re doing this above board with someone legally able to work here -

First, do you have the right set up? You’ll have the most success with a live in if he/she has an in law suite with its own entrance. Don’t underestimate the importance of having a house big enough to accommodate another adult! Also consider parking and whether you will provide a car to the nanny.

Second, regardless of whether you pay via income or drawing down on your net worth, it really depends on your annual household spend. I wouldn’t consider a live in unless you have enough each year to max out your 401(k), max out your kid college savings, and pay school tuition (if kids are in private), mortgage, bills, travel, medical, emergency savings, etc.

Once you have all that covered, if you can have an additional, post-tax, $75,000 each year that you won’t miss / don’t need, then I think you can afford a live in.

Note - I don’t think all $75k will go to the nanny as salary; with a live in, your home expenses will go up, plus you will likely be including the nanny in events / vacations throughout the year, plus overtime. So I’d budget $75k to cover all that.

[Anonymous]

I would need a separate wing of the house or an apartment over the carriage house or something like that. Probably networth of $10M+

[Anonymous]

I'd rather hire two separate live out nannies.

[Anonymous]

We had a live in for three years and she’s the reason I agreed to have a third child. It wasn’t cheap but was a massive stress reduction.

[Anonymous]

Anonymous wrote:World Bank/IMF employees have live in Nannie’s and they are not super rich. They pay them $18/hr minimum and sponsor their visas.

That’s because these nannies aren’t American and compared to their home countries, they are making bank.

Also, the bank sponsors. Not a staff member.

[Anonymous]

Anonymous wrote:I am all for having lots of paid help but a live-in has never made sense to me. Then they’re just in your house when they’re not working. Even if you have a separate apartment, I would rather they have their own apartment somewhere else. I’d rather buy a car for a nanny than have one live in

They are available and schedule-able with greater ease than live out.

[Anonymous]

Anonymous wrote:A live in nanny is very common around the world. Being a parent is very isolating and it is nice to have another adult to help. Live in help avoids the problem of whether they will be able to arrive on time or need to leave at a specific time. For me, it was a life saver when my children were little.

Not in my world. Parents can stay home til the kid goes to full time daycare. If the kids is sick, either parent cam take a sick day.

[Anonymous]

A friend of mine works for the World Bank. She has an 12 yo daughter. Without live in help, her career would have tanked as she has to travel 2 to 3 wks at a time.

[Anonymous]

[mastodon]

Anonymous wrote:A friend of mine works for the World Bank. She has an 12 yo daughter. Without live in help, her career would have tanked as she has to travel 2 to 3 wks at a time.

Where is the kid’s dad?

[Anonymous]

Anonymous wrote:[mastodon]

Anonymous wrote:A friend of mine works for the World Bank. She has an 12 yo daughter. Without live in help, her career would have tanked as she has to travel 2 to 3 wks at a time.

Where is the kid’s dad?

In Doha. Dead. In prison. Does it matter?

[Anonymous]

Anonymous wrote:None. Parent your kid (s).

Same unless you want half sibling