Childcare

The Rising Cost Of Childcare: Can You Afford To Work?

in Financial Planning by

Traditional wisdom says a parent stays at home to raise their children because they can afford not to work. While this is still true for many families, the other side of the equation is also becoming true – some parents now choose to stay home because they can’t afford to work.

With the cost of daycare spiraling out of control, a lot of parents are finding out that after factoring in the cost of daycare, commuting and other work related expenses, holding a job doesn’t pay enough. In some cases they even have to pay to work!

The rising cost of daycare

The cost of raising a child has been steadily climbing up. According to the latest report from the U.S. Department of Agriculture, it now costs nearly $250,000 to raise a child to the age of 18 without including college costs. The top expense, 30 percent, is housing; which I believe can be controlled and reduced by parents. The second highest expense is childcare, which is what comes as a surprise for a lot of new parents.

Cost of Care graphic4

The National Association of Child Care Resource Referral Agencies conducts a survey on child care costs around the country every year. Each passing year the cost of childcare has been consuming more and more of an average family’s budget.

  • Daycare now costs more than 4 years of in-state college tuition in 31 states and the District of Columbia.
  • In 28 states, the yearly cost of child care for two children is more than the annual minimum wage; which means a single mother of two, working a minimum wage job, is forced out of her job, to live on welfare.
  • The cost of child care fees for two children exceeded housing costs for homeowners with a mortgage in 19 states and the District of Columbia. Center-based child care fees for an infant exceeded the annual median rent payments in 21 states and the District of Columbia.
  • The cost of full-time, center-based care for two children is the highest single household expense in the Northeast, Midwest and South. In the West, the cost of child care for two children is surpassed only by the cost of housing in the average family budget.
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For families living at the federal poverty level, daycare is unaffordable. For example, families of three in Massachusetts living at the poverty level have to pay more than 86 percent of their income to care for an infant full-time. Even families of three earning an income of 200 percent of the federal poverty level struggle to be able afford daycare; they have to spend 43 percent of their income to care for an infant.

So do you have to be rich to be able to afford to work?

How to calculate if daycare makes financial sense?

From a purely financial point of view, many new parents are shocked to find they are working for pennies after paying for childcare. Given the added stress of work, workplace politics and the time spent commuting; it is good exercise for any couple who are thinking about starting a family to calculate how much they are bringing in after factoring in childcare expenses. This needs to happen before starting the discussion on whether it would make sense for one of them to stay home and raise the child.

If both parents are working before they had a baby, does it make sense for them to continue to be a two income family while the child goes to daycare or should one parents quit their job to stay home? You can calculate how much of the second income you are taking home after factoring the daycare cost and work related expenses (which you won’t have if you quit and stay home) using the following six steps –

Step 1, Collect the following information: Your partner’s income, your income, daycare costs, number of dependents, filing status (single, married filing jointly, head of household), standard deduction for this year or an estimate for itemized deduction (you can take this amount from last year’s tax return, if your life situation didn’t change).

Step 2, Use a calculator to find your marginal tax rate: First ignore your income; just use your partner’s income and the rest of the information in a calculator like this to find out your marginal tax rate (marginal tax rate is the rate you would pay on an extra dollar of taxable income).

Step 3, Find out how much of your income you will pay in taxes: Now add your income and use the same calculator to see how much extra tax you will pay.

Step 4, calculate your State taxes. Find the tax rate tables for the state you reside in and calculate how much you will be paying in taxes. Depending on the state you might be able to find a calculator on your State’s revenue board website.

Step 5, Subtract taxes, transportation, daycare and other work expenses. Add up the federal and state taxes, cost of commuting to work, daycare expenses and any other work related expenses (dry cleaning, membership dues, uniform, etc.) as you don’t have to spend on any of those if you don’t work.

Step 6, Calculate your take home income after childcare expenses and taxes. The amount you get from step 5 will be the take home income you will have after paying someone to take care of your kids. You can translate this take home income to an hourly wage by taking the amount from step 5 and divide that by total number of hours worked in a year (52 weeks x 40 hours).

Now is that worth it?

Case study #1: Mike earns $100,000 as a software engineer and Sally earns $40,000 as a teacher; they have two kids aged 6 months and 4 years. So translating that into tax speech, they have two dependents and they will be filing their return as married filing jointly. They are contemplating putting their kids in daycare for Sally to return to work.

  • Federal taxes: They have a modest house so they don’t have much to itemize, instead they take the standard deduction; which for 2014 is $12,400 for their filing status. Using the calculator with Mike’s salary of $100,000 (Note: if they contribute to their retirement the taxable wage and therefore their tax rate will change) they will pay $9,863 in federal taxes. Now adding Sally’s salary and redoing the taxes with $140,000, their tax liability climbs to $19,663, an additional $9,800. So roughly 25 percent of Sally’s salary goes to Uncle Sam.
  • State taxes: If they lived in Oregon, Sally’s income will be taxed between 9 and 9.9 percent depending on their federal taxable income, which will be $3,600 – $3,960.
  • Expenses: In Oregon, cost of daycare for an infant is $13,452. For a 4 year old it is $10,200. So that is a total of $23,652. Add to that $150 in gas and insurance for a month or $1,800 per year in transportation, ignoring wear and tear and maintenance on the car. 

Sally’s annual take home income after childcare expenses and taxes: Income – (Federal tax + State tax + expenses); $40,000-(9,800+3,600, the lower estimate, + 23,652 + 1,800) = $1,148, assuming she doesn’t have to buy any supplies for her classroom at her own expense. Sally brings in $1,148 a year after factoring in the taxes and childcare expenses. That makes her hourly wage a little more than half a dollar ($0.55).  If Sally can keep her teaching credentials current and is in a school district where it is relatively easy to go back to teach, she might consider taking a break for a few years.

Case study #2: Laura and Dustin are both postdoctoral fellows doing research for a very prestigious university in Massachusetts earning the standard NIH salary of $42,000 each per year. They have a 3 month old.

  • Federal tax: They rent and take the standard deduction. According to the calculator, with just one salary they would pay $1,348 in federal taxes. Adding another $42,000 brings it up to $7,648. So the additional $42,000 would be taxed at 15 percent, with $6,300 in extra taxes.
  • State tax: Massachusetts state tax rate is 5.2 percent for 2014, which will be $2,184 for $42,000.
  • Expenses: In Massachusetts, they pay $25,200 to care for their infant during the standard 9 AM to 5 PM time slot. They work long hours, so spend an additional $200 a month or $2,400 per year for after-hours care.  They use public transit with the university discount, so the cost of commuting is $80 a month or $960 for each.

Laura’s (or Dustin’s) hourly wage: Subtracting their expenses ($6,300+$2,184+$25,200+$2,400+$960) from the second income of $42,000, leaves $4,956. So the take home income from the second person’s job after taking childcare expenses and taxes into account is $4,959 per year. They work an average of 50 hours per week making the hourly rate $1.9. If we look at it from a purely financial perspective, it is obvious that either Laura or Dustin should stay home to take care of the baby as they don’t earn enough to justify working. But it is not that simple, both of them have high earning potential and taking a break from their career would have a lot of negative consequences when they start applying for post-academics jobs. Additionally, they love doing research so they would be unhappy if they stayed home with the baby.

As you can see, it is not always black and white; there are a lot of long term consequences to taking a break from a career for a few years.

What is the long term cost of staying at home?

According to a new analysis by the Pew Research Center about one-in-ten mothers with a Master’s degree or more and an annual family income of $75,000 or more are “opting-out” of the workforce to stay home and care for their family.

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69 percent of mothers opting out cite caring for their kids as the reason. Is the short term expense of daycare reason enough for parents to quit their job? There are plenty of reasons why it is not a great idea to take a break from the workforce –

  • Motherhood penalty: Only 9 percent of the women in the work force earn $75,000 or more annually, 37 percent earn between $30,000 and $74,999 and 54 percent earn less than $30,000. It makes most sense for the lower earning member of the family to step away from the workforce.  In most cases, it is mothers who stay home to look after children and it is cited as one of the major reasons for the wage gap. Currently women earn $0.77 for every $1 earned by men. Over a 40-year career, the average woman will lose $431,000 to the gender wage gap.
  • Direct income loss: By taking a break of 5 years, what is the amount lost by not saving for retirement in 401k for those years? How much is the income loss in those 5 years? What is the cost of compounding all this income loss for 30 years until retirement at 7 percent return? According to a study, women who stay out of the labor force for three or more years, lose 37 percent of their earning power.
  • Promotions and income loss from that: Taking a 5 year break will most certainly be a career stalling act. Where would you be in the corporate ladder if you had worked through those 5 years? How much would your salary have increased due to promotions, bonuses and pay raises?
  • Other intangible losses: By staying at home you not only lose money, but skills stagnate, seniority is lost and connections fall away. What about any other opportunity costs?
  • Personality clash: Staying at home to care for kids is not for everyone. Some parents are much better parents because they work outside home.  They are much happier with having workplace interactions, professional challenges and generally love their career.

Stepping away from the workforce to care for your kids will save money in the short term, but is that best for your family in the long run?

Options to possibly help cost and career

Childcare is expensive, but quitting your job is equally or even more expensive, especially if you are a career-minded person. You can explore several other avenues to reduce the cost of childcare:

  • If you have family who can provide free or low cost childcare, that might work for a part-time solution.
  • Can you team up with other parents and share a nanny?
  • Do you have a YMCA (or something similar) that provides childcare on a sliding cost basis? If you are in the low income bracket, you might pay next to nothing for someone to care for your child.
  • Au pair is not free but can be much cheaper than traditional daycare.
  • Try a co-op daycare. These are typically church or community groups where you have to volunteer for one day a week to get childcare for one week (other parents do the same).
  • Can you manage your shifts with your partner so that one partner works during the day, the other at night?
  • Can you work from home and hire a mother’s helper?
  • If you work part-time, can you trade care with another mom working part-time?

A lot of families choose to have one parent stay at home to raise the kids until they go to school not for financial reasons but because they believe that is what is best for their families. This post is not about whether one should stay at home or work; rather this post is to help people who are on the fence about going back to work purely for financial reasons. In that case, look at the big picture, not just the first few years but a few decades down the line and plan ahead.

Photo credit: Children of Chaldran, West Azerbeijan. Flickr Creative Commons.

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Suba Iyer
Suba Iyer is a blogger by trade and a personal finance geek at heart. After living from paycheck to paycheck in spite of her above average income, she figured money is not just about math. It involves human psychology, application of knowledge to individual situations and having all the right information. She now dedicates her time to writing about intelligently leveraging knowledge, time and money.

26 comments

  1. Financial Samurai

    It’s really eye-opening to discover after you calculations that a spouse earning $40,000 – $45,000 only ends up earning under $2/hour after sending their child to childcare.

    It also makes me wonder how families who make under $50,000 or even $100,000 can afford to have more than two or three kids?

    And finally, any thoughts on why the government gives $1,000 per kid for household incomes under ~$65,000? I know it’s there to help defray costs, but what is $1,000 going to do when childcare, tuition, etc is so darn expensive nowadays? The income limit for the child credit seems so arbitrary. I wish the government would treat all families equally.

    Sam

    Reply
    • Suba @ Wealth Informatics

      We were not eligible for that credit so didn’t even think of that. If it is available, I think the dependent care account where you can put pre-tax money to pay for childcare will work out better for most people than this credit.

      Reply
    • Barbara Curtis

      Childcare Credit for the Low to Middle Income is not the answer. We need to Reform our Childcare in America. We don’t get consistent quality and safe and accountable child care . We don’t get affordable based on wages. So if your poor you can qualify for Free Childcare like Head Start ( age limited). There are programs for the low income, but the middle income really gets screwed. Here in Oregon $850-$1000 per kid with a discount on the second kid and adjusted per age. This is more then more families mortgage. Reform is the only way. This issue has been going on since women started to work to support families.

      Reply
  2. Linda

    I love the picture of the kids smiling and having fun. At the end of the day, our children will be happier wherever they are, and happiest when they are with friends and parents.

    Spending time at how with your children is some of the most priceless time ever. They grow old quick!

    Reply
    • Suba @ Wealth Informatics

      Linda, It is true that spending time with your children is priceless. Working parents spend time too, so it comes down to whatever works for the family.

      Reply
  3. Erika

    All of these calculations assume 2 incomes. As a single mom, I had no choice but to go to back to work. Childcare costs were easily 50% or more of my income that first year, but not working wasn’t an option. I was fortunate- I have the education and training that allowed me to earn more the following years, but childcare is still 25% or more of my pre-tax income.

    Reply
    • Suba @ Wealth Informatics

      Erika,

      I agree some people don’t have a choice and I don’t know of any potential solution to that. In your case it worked out, but I do know a person in my birthing class who was earning minimum wage and was going to quit for a year to be on Govt. assistance as it worked out to be better. Never been in that situation so can’t comment whether it is the best option or not, only it is unfortunate that childcare is getting this expensive.

      Reply
  4. Cassi

    My ex husband walked out on my 3 kids and I. We both worked full time on opposite shifts when we were together, but he left and quit his job. He has no contact with the kids and only pays $150 a month in child support. (Total…$50 a month per kid) I am now engaged to a great guy and we want to get married, but as disgusted as I am with it, we can’t afford to be married. Our cost of living is outrageous and we are only able to have his income because childcare costs surpassed my income and I had to quit my job. (My fiancé was supporting us AND paying for me to work) Childcare took all of my paycheck leaving me nothing for gas in my car. I had to leave my job and apply for public assistance. I hate myself every time I buy groceries with that stupid state card. The fact is, my fiancé makes just a few dollars a year over the limit for assistance, so if we get married, we don’t eat. I am so frustrated! I hate needing public assistance…the guilt, the judgement from others, the looks…I hate that I can’t work and contribute to the household at all. I was offered a job 20 minutes from my house making $550 a week, but childcare for 3 kids was going to cost me $465 a week, plus gas in the car…there was no way. I’m actually dealing with some pretty serious depression because of this mess.

    Reply
    • Lisa Cole

      Cassi,

      I am currently in the same exact situation as you but since my fiancé and I have had a child together I would be forced to make a case with the child support office before I could get government assistance for my child. I only bring home $20 after daycare costs and the cost of gas after commuting to work, which is only a 10 minute drive. It frustrates me that I supposedly make too much money to receive assistance because they look at my net pay BEFORE taxes and insurance is taken out but if I were to quit my job they would assist me. It makes me feel like if I stop trying they will help me but if I continue working hard I get nothing.

      Reply
    • Lessons123

      Govt assistance, will pay for ur 3 child to go to daycare if u work. And ur family income has to be around 40, 000 I belive for a family of 5 ti get public assistance. I was 17 years old on public assistance I had one child, one job. I got daycare paid for biy chose to pay an extra 20 bucks a weeks for better care bit o had to work in order to get it.. give assistance isn’t there for non working families. It’s there for those struggling to support there families. I didn’t feel bad. I paid taxes too.

      Reply
      • Jen

        My fiancee and I have three kids. He is the only one working because we can’t afford childcare and him working alone somehow disqualifies us for childcare assistance even though he does not make enough to live on.

        Reply
  5. Anonymous

    I just went back to work full time after being a SAHM for the past nine years. With my kids all off to full-day school, we are finally able to add a second income to our family. However, with the school year winding down, my husband and I have been looking into summer childcare options and have quickly discovered that the monthly cost of childcare for our three boys will actually be almost twice as much as my monthly take-home salary! So this summer it is actually going to cost our family money to have me at work 🙁

    Reply
    • Cassi

      I’m with you there! The only field in which I have any education/experience is childcare…where I’d be lucky to make $9 an hour. Summer childcare averages $150 per kid. It’s just not possible! Even factory work doesn’t pay enough. I’ve been contacted about several office jobs, insurance sales positions, etc, but they all range from $9-11 an hour which won’t cover childcare over the summer- not even taking into consideration the gas in the car to get there and the groceries I wouldn’t be able to buy…because I’d lose my assistance and wouldn’t earn enough after childcare to feed my kids.

      Reply
  6. Calandra Jackson

    In today’s society parents wonder if paying child care cost in Colorado is higher than paying for college tuition. The cost of child care is not hidden from the American people, but many parents struggle with the means to afford quality child care within their state. Colorado child care should be made affordable based on the average family income, through special programs and with a higher tax break for parents paying over a certain amount for child care. Colorado families are paying a significant part of their earnings for child care and some parents are forced to work two and three jobs just to pay their bills and afford child care. The average married couple income rate is below poverty level. After taking into consideration of the income rate and child care deductions, special program is not only desired but considered a need. More programs like (CCDBG) should be put in place to not only cater to income restricted residents but Colorado residents also above the poverty ratio. President Obama announced an incentive program that could possibly give parents up to $3,000.00 per child (White House). Even though child care cost will remain the same in Colorado, focusing on the facts of the family income, the need for special programs and support for the incentive program will not only help families in Colorado but across America to be able to afford quality child care within their state as well.

    The White House, Office of the Press Secretary. “Fact Sheet: Helping All Working Families with Young Children Afford Child Care.” (January 21,2015). Web April 15, 2015

    Reply
  7. shel

    Just came across this page and am so frustrated and at a loss of what to do. I’m a single mother of a 3 year old who ended up on unemployment and had no luck finding full time work. I had to move out of State to where my dad and step mom live as they were positive I’d have better luck where they are to land a job. While applying to places all over town and the neighboring town and putting my resume online, I still had no luck so ended up applying for food assistance (ebt). I finally found part time work as a grocery store cashier but it only pays $8 per hour. My step mom was watching my son thank goodness for the first few months but then ended up being unable to due to severe health issues with my dad (long crazy story but he struggles with severe depression, substance abuse and anger issues)and I ended up having to move out as my dads place was no longer fit or safe for my son and I. (I didn’t know prior of my dads substance abuse problems so I’m still trying to deal with that in my head) I found a roommate so living expenses are split in half however on $8 per hour I cannot afford daycare. I calculated working full time hours but that put me over qualifying for the food assistance I’ve been getting, then add more daycare costs for full time and I’m better off working part time and getting the food assistance. I’m just so frustrated and at a loss. I seriously don’t know how I’m going to pay my half of rent and elec next month. How on earth do single parents work this out? I found out there is state assistance to help with daycare costs however there is a waiting list to get that. (Oh, and zero $ from my son’s father as he can’t be located) 🙁 I used to nanny so i could bring my son to work with me and have been trying to land another nanny job however no luck thus far. Is this how people wind up homeless?? I’m scared…cuz that seriously could end up being me, whereas I’d lose my son. :’-( Sorry, I’m venting cuz this is consuming me.

    Reply
  8. Douglas Brown

    A close friend of ours is living right on the poverty level and is constantly talking about how they cannot afford childcare. They know that there is real value in child day cares, as it gives them great opportunities to learn social skills. I think you give great advice on how to calculate and assess if working two jobs during day care is a good idea or not. I will pass this on to him and hopefully it will help them better decide what to do.

    Reply
  9. Cari

    Why would you compare the cost of child care for TWO children to the cost of college for ONE child?? Your numbers don’t seem to make much sense to me at all.

    Reply
  10. azim abdul

    As a childminder and provider of creches services in the town I live in (Wickford), I am always looking for ways to keep my childcare service flexible, cost’s down for parents but be able to make a living with the rising costs such as insurances(home,car, public liability), registrations, training etc etc. I have several parents using this scheme who are registered with different providers. It is quick and easy to register (usually online)and payment direct to my bank (easy), as a childcare provider you can register with more than one scheme. Hopefully it helps parents keep their costs down a little.

    Reply
  11. Carrie

    My daughter and her husband may have to get a divorce to be able to pay for health insurance. Can not afford child care for one child. Not to mention he is sick all the time at daycare and she misses work all the time working full time. This country can’t help the people that are here. The homeless population is crazy. I hope someone out there in all the political b.s. Can help young hard working families that live in small communities.

    Reply
  12. Anonymous

    Yeah, that’s all well and good. But sometimes parents HAVE NO CHOICE BUT TO WORK!!! It doesn’t matter if I can “afford” to work or not. I’m a single mom raising a three year old all on my own. Unless I want to live on welfare, being employed IS NOT AN OPTION!!! I also cannot afford child care! I think the child care costs in this country are an absolute disgrace. It is truly obscene. There is NO REASON to charge that much. It’s all about price gouging the parents. Like daycare is some sort of luxury or “optional.”

    NO!! NONE of the waste of time “suggestions” in this article are actually practical or reasonable. A CO-OP?? You have to be kidding me. I am LOOKING FOR CHILD CARE!! Not wanting to PROVIDE it to other people’s children. I have enough trouble with my own child. No, I cannot work from home and hire a “mother’s helper.” I cannot afford to hire anyone!! My job does not allow me to work from home. I’m a waitress!!! There are NO child care options for single mothers. Or maybe just ones like me. I don’t have the luxury of having family around to watch my daughter. I am in a bind. I have to work and cannot find “Affordable” child care!! Like other posters here, I make too much for public assistance, and not enough to make it without assistance.

    Reply
  13. Anonymous

    Working alternate shifts is a lousy option. Never getting to sleep is dangerous and bad for your physical and emotional well being. It’s something I have been doing for almost 7 years and I’m ready to quit and be poor. I was a 26 old rn when I had my daughter. I signed up to work 32 hours a week 3-11 some moms do overnight shifts. I sleep about 4-5 hours a night and I’m losing it. My husband is an electrician that works 6am-2. I have two other children now. We have paid off debt and lowered our mortgage. I’m going to cut down and work very part time. My baby is about to be 7 and I have spent much of her life tired and miserable (and she was always a good sleeper)! Please don’t encourage young parents to do this.

    Reply
  14. Anthony

    A womans place is in the home! Sure you can let the T.V. raise your kids just as easy as some strangers at some business in an industry notorious for child abuse and neglect, but who cares as long as you women can get some more money for shopping. How about this: women – take extra special care of your man and let him know how much you appreciate and love him; men – work, work, work and go home to your beautiful family where you are treated like a king, and spend it all on your wife and children. Its easy if you think about it. Its almost as if it were the way nature planned it.

    Women are just too ambitious. The man ain’t making enough for the lady to buy the things she wants so she’ll just go to work and get her own money. Now the funny thing is that childcare cost a little less than what she makes. So her whole check is going toward paying a stranger to do her job. Imagine if a cinstruction worker decides to hire an illegal migrant to do his job at virtually the same pay, just so he gets to stay home from work because he would prefer not to be there. A woman prefers to not be with her children because they drive her mad, so she would pay people her entire income just to get away from them, while using the lame excuse that the child(ren) “love” going to daycare and seeing their fellow inmates and abusers (I mean friends and teachers).

    If you are ordered to go to work because you exhausted your public aid then please by all means find a relative first and only have strangers look after your little one as a last resort. If you aren’t under court order and your spouse makes enough for you to be at home watching the children then you are selfish and you are guilty of child neglect. Especially when we are talking about pre-school and under.

    If you don’t think that you have to treat your man as superior to you, and he will take good care of the children just because they are his, you should prepare to be single collecting child-support and he probably wont call or visit the children EVER!

    So there’s your womans rights and gender equality. F*#$ the children, mama needs more money (to pay for daycare) so she wont be board at home with the children while the world passes her by. Its OK for their father to work like a slave every day for eternity, but mama can’t “waste” 4 or more years towards her own offspring; that would set the entire female gender back a whole 50 years. If four years is too long for women to wait, imagine how hard fifty years is for them to lose. And we wonder why our children are getting worse and worse with every generation.

    Reply
    • Laurie

      Oh Anthony, I imagine you have gotten burned pretty bad by a woman at some point if your life. Whether it be an ex or your very own mother. Sad.

      Unfortunately, men need our help financially these days just to make ends meet. Just to pay normal month to month household expenses. It’s ok- it doesn’t make a man any less “manly”- it’s just the way it is in the world we live in today. Men are only one person and shouldn’t have to “work work work” and never see their family as a result- that is not a very good solution either.
      I make more money than my husband and work less hours than him . I have no student debt and he has huge student loans. In some cases, it IS better if dad stays home .
      Women are indeed the “unsung heroes” in today’s world and still get treated like second class citizens (hence the wage gap & negative opinions re: working moms as well as negative opinions towards stay at home moms…..you see us moms get the guilt-tripping from both angles).

      It also makes way more sense to me to have both parents work if daycare is affordable for them even in the slightest bit for financial stability in the long run (401k ect…) and then in turn Wecan provide for not only our Childs future but also our own!

      Reply
    • Anonymous

      I never really leave replies on websites, but I really have to reply to your post. Finally, someone who understands how society is set up! I am a female myself, and I completely agree with you. But from my standpoint, it’s like this: Why waste your energy at work and make no money (because it all goes to daycare), when I can stay at home and play with my kids? Heck, at home I’m the boss. I can even nap when my kids nap! Why would anyone choose to work “for free” for some company instead of taking care of their children?
      I agree that women should stay at home with the children as long as the man provides for them.

      Reply
  15. Smithk258

    Excellent post. I was checking continuously this blog and I’m impressed! Very useful info particularly the last part gbddfdddedcedfef

    Reply
  16. Crystal

    Yes, it’s a shame. I too left the work force. I have a doctoral level of education, however, with the federal tax increase on our shared income under President Obama as well as the cost of childcare for my three boys it made more sense for me to quit. That along with the fact that my profession as a healthcare provider became increasingly frustrating and nearly impossible with the government regulations imposed upon me under the ACA. I could no longer own my own practice as large corporations took over because they were the only ones that could afford the lawyers, accountants, and surplus of non-skilled staff to attempt to keep up with government regulations. Rather than create necessary jobs for others with my own business in healthcare, and rather than taking care of the elderly (a career that I dedicated many years training and practicing), I have left for good (at least in this country). I’m not giving my hard earned income away to the government so they can splurge it on useless programs. That money was earned through my hard work and time away from my family. The upside is, I focus all of my attention on my family now and nothing goes to the government.

    Reply

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Disclaimer. This communication and all data are for informational purposes only and do not constitute a recommendation to buy or sell securities. You should not rely on this information as the primary basis of your investment, financial, or tax planning decisions. You should consult your legal or tax professional regarding your specific situation. Third party data is obtained from sources believed to be reliable. However, PCAC cannot guarantee that data's currency, accuracy, timeliness, completeness or fitness for any particular purpose. Certain sections of this commentary may contain forward-looking statements that are based on our reasonable expectations, estimate, projections and assumptions. Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Past performance is not a guarantee of future return, nor is it necessarily indicative of future performance. Keep in mind investing involves risk. The value of your investment will fluctuate over time and you may gain or lose money.