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Money and Finances
Reply to "How much money did you lose each year by working during the preschool years?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][b]I really hate when I hear people say it made sense to stay home because their salary was less than daycare cost[/b]. The is a myopic view that overlooks the lifetime compounding effects of raises, retirement contributions, etc. and the impacts of time out of the labor market on long-term earnings and career trajectories. Not to mention for some the mental health benefits of having time away from kids and something else to focus on. If you exit the labor market because you want to stay home with your kids, that's fine. But be realistic about the reasons and the tradeoffs.[/quote] I think people say that, but they also *wanted* to stay home at some level. If they really wanted to stay in their job, they would make it work.[/quote] I think this is often (not always!) true, especially among umc/uc people. I would have broken even after childcare costs AND I really wanted to stay home with the kids for a few years. [/quote]
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