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[quote=Anonymous]Looking for input as I think through becoming a stay at home mom. We have a 1st grader and a preschooler who will be in school full time starting in September (child is half days now). We currently have a 40 hour a week nanny (who we and our kids absolutely adore—she’s been with us 5 years and she’s part of our family). When child starts full day school in September, it feels like it would make sense for me to stay home. Our nanny wouldn’t be willing to do part time, and I don’t have enough for her to do house keeping wise to fill 6 hours per day without kids, plus I don’t love my job and want to be more present for my kids.   My husband makes $725k. I make $150k. We pay our nanny $25 per hour, plus lots of bonuses, minimal overtime, and taxes and payroll fees. We have both kids in private school.

What do we need to consider financially as we come to a decision?  Our mortgage is $7500. Obviously I’d be losing my salary, but my 401k, too. But we’d be eliminating the child care expenses. With our 2nd going to school full time, her tuition will double. I just want to make sure we are considering all factors and appreciate the input of this group!![/quote]

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