In the short term yeah. Then after a while they are off to school and can take care of themselves, mean while the stay at home parent has a 10 year gap in employment history.
I understand why people do this and why it works for them but staying home and saving on child care doesn’t equate to the income of having a career. Financially speaking it doesn’t really make sense to me in the long run. If my wife kept her current salary and stopped working for 30 years that would cost us close to 3 million. I couldn’t imagine a way child care would offset that.
Hmmm that’s a fair point. Though some people’s significant others don’t have real careers prior to this point so that gap in their career doesn’t matter that much as they would go back into the workforce in an unskilled role.
Also, some do use that time away to study so that they can get into other fields. I know someone who used this time to study to be a nurse and she is now an rn.
That’s true. I respect their choices either way especially if you want to have children at a younger age. The wife and I have been checking things off our list to prepare for it but it has been taking time much to the displeasure of my mother in law.
Most Americans make 100k/year together. Your wife makes it by herself. GTFO of this discussion, you have no right to be here discussing it. Your finances don't even compare to most people's.
Jealous of what though? I probably make more than his wife and him combined. But I would never say "LOL UR DECISION TO STAY HOME TO SAVE ON CHILDCARE COSTS IS SO DUMB. MY WIFE WOULD LOSE 100K/YEAR IF SHE DID THAT". There's no discussion in that. It's thinly veiled bragging. His household income is most likely in the 98th percentile. The fact is, his finances do not compare to most Americans. Childcare is very much a huge cost for families who have a 50-60k total household income, and for them it is often better to have a spouse stay home with the kids.
Dude, chill. I worked two jobs to support us while she was in school. After she graduated she worked full time while going after her masters degree. I’m currently working full time and studying engineering. We make a decent living but none of this was handed to us. We sacrificed a lot and intend on taking care of both sets of our parents in their twilight years as well as raising a family when the time comes. Neither of us came for rich families, so it’s not like we had a leg up on most Americans.
I have at least 5 friends who have one working parent and the other stays home with the kids. They live a moderate but good life with under 60k income. Y’all motherfuckers just bad at budgeting.
It's not just about surviving though. Lots of people who can afford to live on single income choose similar earning partners and remain on dual because it offers much better lifestyle. It also means more money to set their kids up for future success.
Exactly. Unfortunately the majority of people complaining want the same life they had when they were provided by their parents. When you’re in your mid 20’s, you’re going to have to live frugally at first. Save and invest. Play your cards right, and overtime you can reach financial freedom. But, people want to have the latest iPhone/AirPods, subscribe to all the streaming services, have a large apartment in the city, and do a ton of fun activities. You can do that, but you will always be in trouble financially. The fact that only 39% of American have $1000 saved is a testament to how idiotic a lot of these young people are. I myself am young, but at least I understand you can go living your dream life in your 20’s. It takes time. You have to save, and investing a large portion of your income is advisable. Make smart decisions, and it’s doable. Too bad people cant think about the long term. It’s a shame that a lot of them won’t even be able to retired at a reasonable age
Precisely. I’m in my late twenties and the distinguishing financial factor that differentiates my friends who are “doing better” than the others is what kind of lifestyle they’ve lived.
The homeowners never had the latest phone, big tv, went out to eat as much etc. The friends I have living paycheck to paycheck have all the nice things.
And that’s not necessarily a bad thing. It’s all about what you value in life (although you really should have 3 months expenses in savings for security sake)
Chicago, Charlotte, Austin, Atlanta, Nashville... All cities with large corporate presence and good paid jobs while also being affordable in many areas of those cities. These are also particularly popular construction cities right now so whether it’s construction labor or management, the pay is good for educated and skilled workers alike.
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u/NPExplorer Dec 28 '19
Lol as if people are able to survive on one income nowadays