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Relationship Discussion (non-explicit)
Reply to "SAHM with kids in school? Dealing with judgement?"
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[quote=Anonymous]NP - Net take home pay on $70k at 32% tax rate is $48k. Remove legally paying a nanny at say $40k (more likely $45k), $5k for cleaning service ($200 every other week), and you are left with $3k for the year of working. You could put that $3,000 into 401k and then you have nothing. I stated a nanny in case spouse has high hours/travel job and $70k spouse also works long hours. If your job is more flexible then you could prob take $30k out for daycare/summer care (would that even cover those costs?), $5k out for cleaning, and put $13k toward retirement annually and have nothing left - Really, you would be in negative territory unless you are diligent about food and extra costs and maybe do the home cleaning yourself, which many people do. Or, if one spouse makes enough to be in a 32% or higher tax bracket and you can live reasonably on one salary, you could consider having one spouse stay home. There are options. [/quote]
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