My wife is a psychologist. She recently passed her exam and got licensed. Her fellowship ends in three moths (our baby is due late May, our first) and was planning on being on maternity leave for a year.
I make good money and we don't NEED her income. We have been putting 100% of her income towards her student loans while still being able to save each month.
We have an emergency fund already (enough to cover 6 months without changing our lifestyle, 1yr if we cut everything back), enough in our HSA to cover our out of pocket max for insurance, and feel our finances are pretty healthy.
She was offered a position at a local hospital. They don't know she is pregnant. Of course she will have to tell them. In order for her to accept the position they would have to be OK with some maternity leave early in her career and be flexible with her schedule when she comes back.
She isn't sure the money she would make after taxes and daycare would be worth it. I figure she will net about $2500/m after taxes and daycare.
I'm trying to weigh the importance of paying off her student loans ($85k left started with $145k 3 years ago. We currently put $2k/m towards them, but would have to cut that back drastically if she stays home) as quickly as possible, versus having her stay home with our baby.
She was previously making about $50k gross in her fellowship. At that income level I would prefer she stay at home with the baby. I work long hours with an inflexible schedule as I am a Sales Manger at a car dealership.
So I guess the question is: What's more important, her making money or her staying home with our baby?
After typing all this out I've realized I'll have to decide for myself since it's not all about the money. I still welcome your input as parents and financial gurus!
P.S. Sorry for the long question, but I wanted you to have all the facts. Thanks for your opinion!
Submitted January 28, 2017 at 11:44AM by compelled2share http://ift.tt/2jgQPO8
