For those of you that have nannies, how much do you make?

[Anonymous]

Anonymous wrote:I’m feeling pretty financially challenged by these posts (like I need your guys’ financial planner!). How does one live in the area, make 200k a year, and can still afford a nanny?

I know that it’s possible, but feel like we wouldn’t have been able to do it if that was all we were bringing in. We felt the financial hit of a nanny with an HHI of 405k (of course not that we were cash strapped, but still a noticeable hit to finances).

Probably has to include lower housing costs (sacrificing the big, close in house), low/no student debt, and cheap/paid-off cars.

[Anonymous]

With about a HHI of about 240k, and huge student debt, we have to make compromises to make it happen, but I am grateful we can make the sacrifices-- one car family, modest home, less in savings, tight budget, etc. We don't have family in the area so prioritizing a nanny affords our child another invested adult who is loving and nurturing.

[Anonymous]

Anonymous wrote:$250k. We prioritize the childcare and the language exposure for the kids. We do have some family help as well which makes it easier.
We had a nanny for 3 years for our first kid and will no for the second as the roar is in full day preschool. It was worth every penny as the oldest had 3 colds total in the 3 years of the nanny being with us, grew up fluent in my native language and can now go to immersion preschool without issue.

This is us as well - same HHI. Our nanny has been with us for three years to care for our first (who is now in preschool) and will be with us for two more years until our second starts preschool.

[Anonymous]

Anonymous wrote:I’m feeling pretty financially challenged by these posts (like I need your guys’ financial planner!). How does one live in the area, make 200k a year, and can still afford a nanny?

I know that it’s possible, but feel like we wouldn’t have been able to do it if that was all we were bringing in. We felt the financial hit of a nanny with an HHI of 405k (of course not that we were cash strapped, but still a noticeable hit to finances).

This is us. Our HHI is about 200k and we pay over $60k to employ a nanny. We own our home outright, so no rent/mortgage (but $1300 per month in property taxes) and it's still a big chunk of our take-home pay.

[Anonymous]

I looked up an employer and last year DB brought in 10 million.
I am not a troll

[Anonymous]

We earn about $550k. We pay our nanny what she asked for: $20/hour in a low cost of living area. So, a bit under $50k/year with payroll taxes and bonuses. We only began making this income within the last few years and only hired a nanny this year. We used day care when we were making $200-$300k because a nanny would've felt too tight for us. Our kids are spaced far apart.

[Anonymous]

I'm the OP. My husband and I are not high earners for our area and consider ourselves middle class. Our HHI is $270k but we have a PITI of $3300 and Student Loan payments of $1000 are our two largest expenses outside childcare.

I was just trying to get an idea of whether we're completely way out of our league to hire a nanny rather than go with traditional daycare setting.

I know we can make adjustments in our lifestyle to afford it so its jut a matter what we want to prioritize...and of course, child hare is way up there in list of priorities. Anyway, it was really just out of curiosity.

[Anonymous]

Anonymous wrote:I'm the OP. My husband and I are not high earners for our area and consider ourselves middle class. Our HHI is $270k but we have a PITI of $3300 and Student Loan payments of $1000 are our two largest expenses outside childcare.

I was just trying to get an idea of whether we're completely way out of our league to hire a nanny rather than go with traditional daycare setting.

I know we can make adjustments in our lifestyle to afford it so its jut a matter what we want to prioritize...and of course, child hare is way up there in list of priorities. Anyway, it was really just out of curiosity.

We make 250K here in DC, and our PITI is 3600, but we have no student loan payments or other debt. We decided to stretch for the nanny - we're just not saving a lot right now beyond what goes into our 401K accounts.

[Anonymous]

Our HHI is around 230K. Our nanny makes $25/hour. We feel very strapped but I know we are fortunate to be able to afford it.