Are you richer than your parents?

[Anonymous]

My parents had 7 children and one income and we have three children and two incomes. Yes, we are richer but I'm not sure if we are happier but I have no complaints!

[Anonymous]

Anonymous wrote:

Anonymous wrote:
you can't double your income by two people working to say you are better off.

Lets say

Couple A the husband makes 180K and wife is a stay at home mom

Couple B the husband makes 100K and wife makes 100K both work full time.

Who is better off?

Is this a serious question? The one who isn't relying on one person to bring home all the bacon. If Couple A's husband dies or runs off with his secretary, where does that leave that family? Best case, they get through a few years on life insurance or child support/alimony, and mom has no recent work history and has not been paying into SS/MC or, absent contribution from her husband, retirement. At least Couple B isn't hosed if something goes wrong.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:
you can't double your income by two people working to say you are better off.

Lets say

Couple A the husband makes 180K and wife is a stay at home mom

Couple B the husband makes 100K and wife makes 100K both work full time.

Who is better off?

Is this a serious question? The one who isn't relying on one person to bring home all the bacon. If Couple A's husband dies or runs off with his secretary, where does that leave that family? Best case, they get through a few years on life insurance or child support/alimony, and mom has no recent work history and has not been paying into SS/MC or, absent contribution from her husband, retirement. At least Couple B isn't hosed if something goes wrong.

The question I have, is does the wife staying at home contribute to a 100k earner making 180k? It’s not a fair comparison.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:
you can't double your income by two people working to say you are better off.

Lets say

Couple A the husband makes 180K and wife is a stay at home mom

Couple B the husband makes 100K and wife makes 100K both work full time.

Who is better off?

Is this a serious question? The one who isn't relying on one person to bring home all the bacon. If Couple A's husband dies or runs off with his secretary, where does that leave that family? Best case, they get through a few years on life insurance or child support/alimony, and mom has no recent work history and has not been paying into SS/MC or, absent contribution from her husband, retirement. At least Couple B isn't hosed if something goes wrong.

The question I have, is does the wife staying at home contribute to a 100k earner making 180k? It’s not a fair comparison.

From a risk mitigation perspective, and for future planning, I'd prefer to be part of Couple B.
However, I bet Couple A wins in a purely financial comparison, based on not needing childcare, commuting costs / professional wardrobe and other job-related expenses for the wife, less "outsourcing" of home work, etc.