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Reply to "How much money did you lose each year by working during the preschool years?"
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[quote=Anonymous][quote=Anonymous]I really hate when I hear people say it made sense to stay home because their salary was less than daycare cost. 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'm the poster who turned down a 112k job. Clearly I could have paid for daycare, but with my spouse essentially unavailable for regular dropoffs or pickups, I didn't think that amount of money was worth it to have my kids in daycare for 10 or 11 hours a day, 5 days a week. There's sometimes more to life than money. [/quote]
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