Pregnant and trying to plan for future. What is the magic daycare:income ratio?
I earn $55K/year and bring home $33K after taxes/standard deductions/medical insurance/401K/transportation (subsidized commuter pass). It's about $635/week.
If I work fulltime, I'd be out of the house from 7:30am to 6:00pm, including commuting time. That's about 52.5 hours of childcare per week, which runs about $525 around here for an infant. That leaves me with $110 per week. I could double this if I stopped contributing to my 401k.
I feel like it would be a lot easier to earn $110/week just by selling crap on ebay or working a few nights/weekends at a retail job while my husband stays home with the baby.
If I keep working fulltime it's like I would only be working so that I could afford to pay for daycare, which seems totally backwards to me.
If it's important, I've been at my job for 10 years and there's literally no career ladder to climb. I would not be missing out on any promotions by quitting or taking an extended leave, because there are no promotions to be had.
Also if it's important, we could survive on my husband's salary ($80k), but it would be very tight. This will be our first and only child. We have a mortgage but no other debt. We have a 12-month emergency fund. I would like to negotiate some kind of work-from-home situation so that I could keep my income without giving 83% of it to a daycare center, but I don't think they'll go for it. Free daycare from the grandparents is not an option.
Submitted June 07, 2017 at 03:24PM by whoopsiebabie http://ift.tt/2sEP3rp
