For those of you that have nannies, how much do you make?
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Anonymous
| And what are your other expenses like? |
Anonymous
| Over seven figures. |
Anonymous
| Wow do you think they have enough time ( OR they respect nannies ) to come in nanny form and answer your question |
Anonymous
| $200k. Don't recommend it. We only hired her (and she's amazing and has saved our lives) because our second child is severely disabled, and it's more cost effective for us to have a nanny than for one of us to quit our jobs. My saint-like parents help us out. It sucks, and not what I ever hoped my financial life to be. |
Anonymous
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Our annual cost for our nanny (her pay, benefits like health insurance, and tax costs to us) represents about 28% of our net income.
It is our single greatest expense by far. Next in line would be our mortgage,529s and retirement plan. Why do you ask? |
Anonymous
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Why does it matter to you?
Some of my employers prioritized childcare and had low 6 figures. Others were high 6 into 7 figures; while they paid well, they didn’t have to make the same tough choices. No other family has your budget, so someone else’s finances can’t help you. I will say that if you don’t have 6 figures, you can’t afford a nanny (certainly not full-time). |
Anonymous
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I worked for a couple who used their savings to pay my salary. They lived in a rental apartment and the father was in a PhD program.
It’s not about income, OP, it’s about priorities. Having an educated and loving nanny for the early years was their priority. |
Anonymous
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$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. |
Anonymous
| Our HHI is $225k. Having a nanny costs us $60k per year. Will be moving our youngest to daycare in a couple of months (oldest is in K). |
Anonymous
| Our HHi is $425 k. We have an excellent nanny and now that we are not sending kids to private school are able to keep her which is an amazing benefit for our family. |
Anonymous
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200k, nanny costs $45-50k all said and done. We pay for health insurance and have a generous leave policy.
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Anonymous
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OP, are you wondering if it makes better sense to have one parent provide the full time childcare?
Having a nanny is a luxury, but it’s usually the best care money can buy if both parents are prioritizing their careers, and you hire wisely and pay well. Daycares for babies are usually horrific, especially the expensive franchises. Your baby needs to be loved. |
Anonymous
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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). |
Anonymous
It’s about priorities. |
Anonymous
Why shouldn't the cost of decent childcare make a "noticeable" dent to your finances? Did you think the nanny doesn't deserve to make a decent living? Why should you be entitled to cheap childcare? I think lots of couples believe they're entitled to "affordable" (cheap) childcare, as if it should be a basic right. |