Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I think it’s actually the other way around for most people. There is an income below which it doesn’t make sense for both parents to be working. If one or both parents is making less than probably $40 or $50k a year, financial whoever makes the least should stay home.

At the higher ends, it’s all personal preference.

+1. I make 200k. Spouse could make 40-50k but after taxes, what’s the point. It’s so much better to be SAH and spouse takes care of everything in home and picking up our DS, takes him to activities, etc..

I made $50K when we started having kids. I make $200K now. Looking at current salary in a vacuum is very short-sighted and common financial mistake.

Anonymous wrote:

Anonymous wrote:$150 for us. One kid.

Must add - 11 yr old kid in private and many activities and one big trip. But first we paid off cars and home and had $1M in retirement. House worth $800k. 529 is about $200k. I retired at 45 last year. DH will retire in 12 years.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I think it’s actually the other way around for most people. There is an income below which it doesn’t make sense for both parents to be working. If one or both parents is making less than probably $40 or $50k a year, financial whoever makes the least should stay home.

At the higher ends, it’s all personal preference.

+1. I make 200k. Spouse could make 40-50k but after taxes, what’s the point. It’s so much better to be SAH and spouse takes care of everything in home and picking up our DS, takes him to activities, etc..

I made $50K when we started having kids. I make $200K now. Looking at current salary in a vacuum is very short-sighted and common financial mistake.

Anonymous wrote:

Anonymous wrote:So I am actually thinking about doing this- DH and I are still talking through the pros/cons. We have 3 (5 and 3 year old in daycare, and an infant with a nanny). He makes 200k in the private sector and I make 100k as a fed. My take home money basically goes to the nanny after I pay for healthcare and retirement. Also, I am not enthusiastic about my job. Both DH and I currently feel like we are both stretched so thin, mentally and time-wise, that we aren't fully successful at any of our responsibilities.

I'd be watching the baby at home, and I'd fully take on all the home responsibilities and family logistics stuff, like bill paying, etc. This would free up a ton of DH's time so he could focus more on work. He's enthusiastic about this arrangement, but I worry about giving up my fed stability and retirement benefits.

One thing we were discussing, is that instead of him maxing out his 401k, if he did a half portion and then contributed half to an IRA for me. This would assuage my fears that if something happened to us, I wouldn't be left high and dry because I left the workforce during my prime working years to enable him to focus on his career.

Has anyone done something similar to this? Or made a similar arrangement?

Retirement savings are martial funds. Is he contributing to a Roth IRA or a traditional IRA? If the latter, I don't think that's a good arrangement.

Anonymous wrote:So I am actually thinking about doing this- DH and I are still talking through the pros/cons. We have 3 (5 and 3 year old in daycare, and an infant with a nanny). He makes 200k in the private sector and I make 100k as a fed. My take home money basically goes to the nanny after I pay for healthcare and retirement. Also, I am not enthusiastic about my job. Both DH and I currently feel like we are both stretched so thin, mentally and time-wise, that we aren't fully successful at any of our responsibilities.

I'd be watching the baby at home, and I'd fully take on all the home responsibilities and family logistics stuff, like bill paying, etc. This would free up a ton of DH's time so he could focus more on work. He's enthusiastic about this arrangement, but I worry about giving up my fed stability and retirement benefits.

One thing we were discussing, is that instead of him maxing out his 401k, if he did a half portion and then contributed half to an IRA for me. This would assuage my fears that if something happened to us, I wouldn't be left high and dry because I left the workforce during my prime working years to enable him to focus on his career.

Has anyone done something similar to this? Or made a similar arrangement?

Anonymous wrote:

Anonymous wrote:I think it’s actually the other way around for most people. There is an income below which it doesn’t make sense for both parents to be working. If one or both parents is making less than probably $40 or $50k a year, financial whoever makes the least should stay home.

At the higher ends, it’s all personal preference.

+1. I make 200k. Spouse could make 40-50k but after taxes, what’s the point. It’s so much better to be SAH and spouse takes care of everything in home and picking up our DS, takes him to activities, etc..

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I just asked my husband this question - he said 400k.

Tell him to get a better job then.

He makes 600k as a W2. But thanks for the snark.

NP, overeducated single mom making $150k who wants to make $600k as a W2, what job is a W2?

employee (tax form) and not self employed

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I just asked my husband this question - he said 400k.

Tell him to get a better job then.

He makes 600k as a W2. But thanks for the snark.

NP, overeducated single mom making $150k who wants to make $600k as a W2, what job is a W2?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I just asked my husband this question - he said 400k.

Tell him to get a better job then.

He makes 600k as a W2. But thanks for the snark.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:$150 for us. One kid.

Us too. I worked until the kid was 5. Our expenses are very low and our savings above average. We live in DC.

So your parents bought you a house?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Don't stay at home spouses realize they are losing out on retirement savings like 401k + Employer match?

Of course they realize that. It is still possible to retire with one income if you're smart about saving and investing. Also, a lot of SAH parents do it for a few years then eventually go back to some type of work.

With a federal government pension, this is significantly less of a concern. Also, our family has always maxed out our retirement savings (including non-working spouse when she was working) so there's more than enough money for a comfortable retirement.

Anonymous wrote:

Anonymous wrote:Don't stay at home spouses realize they are losing out on retirement savings like 401k + Employer match?

Of course they realize that. It is still possible to retire with one income if you're smart about saving and investing. Also, a lot of SAH parents do it for a few years then eventually go back to some type of work.