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Relationship Discussion (non-explicit)
Reply to "s/o how much money do you need to make to provide for a SAHM?"
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[quote=Anonymous][quote=Anonymous]Another way to approach it is to ask what does the second income need to be to economically justify the second person working. Please keep in mind I said "economically" justify, I'm not questioning the emotional or psychological importance of working. You need to take into account, on an after tax basis, at least the the following: child care, transportation costs, other working costs etc. If child care includes a nanny you need to consider taxes and any benefits. After tax you can easily spend $40,000+ which means you need to gross about $65-70,000 (second income is taxed at higher marginal rate) to break even. The math will differ for different situations but the second income needs to be pretty large to cost justify it.[/quote] Childcare doesn't last forever. I have a short commute (7 miles, all in the suburbs). Foolish to look at the short term costs only.[/quote]
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