4 ms·
Where do you live that daycare for 2 kids costs more than one full-time salary?
by drdo 4y ago
Where do you live that daycare for 2 kids costs more than one full-time salary?
- almost_usual 4y agoReally depends on what the spouse does for a living but in the Bay Area Peninsula two kids is easily $4000 a month for daycare. If you both are making FAANG comp sure, keep working. If your spouse is a teacher? Maybe not.
- drdo 4y agoGiven those numbers maybe the right move is to open a daycare!
- midoridensha 4y agoThe right move for everyone is to stop having kids. Wait until things change so that it's economically comfortable to have kids, though this may take a generation or two.
- deleted 4y ago[deleted]
- nostrademons 4y agoChallenge is housing costs. A 3/2 SFH will run about $2M, which at current interest rates is about $12K. It takes childcare income from 6 kids just to pay the mortgage, and sole-proprietorship home daycares are limited to 8 kids total (less if some are infants). For people who already own their own home, though, it's a pretty attractive living if you like kids. Most of the home daycares we looked at are run by people who bought ~10-15 years ago, and they make a very good living, and oftentimes have the house fully paid off. Either that or they bought recently but are pooling resources from multiple family members to afford the house, and then have them helping out with the childcare.
- francisofascii 4y agoThe 2nd wage earner gets hit with the marginal tax rate. So you have to factor in roughly a 30% ish reduction of that 2nd salary, not to mention transportation and other expenses. And tech workers don’t always marry high salary tech workers.