Quitting decent admin job to essentially be a nanny

[Anonymous]

Struggling with our current daycare situation and seriously considering quitting my job to take care of my child and another little one. What should I be thinking about? As long as my net will be the same as what I make now (minus daycare costs), I'm okay doing this for the time being (I think!)?

Any advice?

[Anonymous]

How can you compare taking care of your own child to being a nanny?

[Anonymous]

Anonymous wrote:How can you compare taking care of your own child to being a nanny?

Of course I don't mean that. I WANT to be with my child. I would be a nanny to other toddler.

[Anonymous]

What will you do when you're sick? When your kid is?
Will you and your child keep current insurance coverage?
What if the parents of the other child decide to go with another caregiver or daycare?
How will the other family pay you?
Will you set up as a business?

[Anonymous]

Anonymous wrote:Struggling with our current daycare situation and seriously considering quitting my job to take care of my child and another little one. What should I be thinking about? As long as my net will be the same as what I make now (minus daycare costs), I'm okay doing this for the time being (I think!)?

Any advice?

Can't really answer without knowing how much you make, and where you plan on being a nanny in this area. For instance, if you are making $50k as an admin, and you start full-time as a nanny in DC, you probably will make somewhere around $40k. This proposition may be worth it. If you are going to nanny in say Loudon County or Fredrick MD, your rate will lower and may not be worth it.

Another thing to consider is starting an in-home daycare, if space permits.

[Anonymous]

Just bare in mind that "bring your child" nanny jobs tend to pay less - like $12/hr.

[Anonymous]

Anonymous wrote:What will you do when you're sick? When your kid is?
Will you and your child keep current insurance coverage?
What if the parents of the other child decide to go with another caregiver or daycare?
How will the other family pay you?
Will you set up as a business?

Good things to consider and think about. I don't need to worry about health insurance thankfully. I believe taxes would already be taken out by the employer.