Reply to Do any SAHMs regret it because of financial reasons?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]This depends on so many details that I don't think anyone can give you good advice or relevant anecdotes. What is your husband's salary? What is your salary? What is your mortgage? Any debt? Are you willing to make financial sacrifices if needed?[/quote]

Sorry this is very fair.  Husband makes low 7 figures.  Around $700k left on the mortgage.  No other debt except car payment on one car.  Yes, willing to make financial sacrifices or go back to work if needed, just very fearful of not being able to find a job quickly if needed.[/quote]

Your husband makes over $1m a year?

Then there is zero, absolutely zero financial reason for you to work. If you are never able to rejoin the work force you will still have a HHI in one year that most make in 10. Even if you divorced 5 years in, you’d be better than most.

Work because you enjoy working, to set an example for your kids, to work your brain. But don’t justify it with finances, that’s just a red herring here.[/quote]

I agree with the part about if your spouse has been making over $1 million a year for a while and you have a high NW, tons of money in 529s, and a lot in savings and retirement that you will be fine not working. Even more so if your kids are not SN and/or you plan to use public schools. All this said, it’s reasonable to worry about your husband losing his job at some point before he planned to retire and it being difficult for you to find a job having been out of the workforce for a while. I would feel this way even more if I was a high earner. If you contribute $60K to your HHI now that’s not a lot for your family to live on if your husband loses his job but if you contribute $300K+ that could things going (depending on lifestyle choices) if he loses his job.

I agree with going part time, if that’s possible, and saving as much as possible so in the event your husband loses his job you have a lot in savings and aren’t going to be hurt too much if it takes him a while to find a new job.

Both my parents were laid off at from a job when I was growing up so I will never take employment for granted. I’ve also seen a lot of men and women get laid off in their early to mid-50s (I’ve work in tech and finance) and never find another job that is comparable. [/quote]

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