Today’s show comes by inspiration of this listener question: “Joshua, will you please send me a link to the best show on your website for a woman wanting to convince her husband that they can make it financially if she stays home?”
Well, I didn’t have such a show. But now I do.
Here it is!
Joshua
DATA:
  Working (Conservative)  Staying at Home  Difference     Husband  $60,000  $60,000  Wife  $60,000  $-   Total  $120,000  $60,000  $60,000     Employment Taxes (7.65% — 6.2% SS + 1.45% Medicare)  $9,180  $4,590  $4,590 Income Taxes (Turbo Tax Estimate, 30 years old – 2 kids, no deductions)  $12,849  $1,756  $11,093   $22,029  $6,346  $15,683     Income, net of tax  $97,971  $53,654  $44,317     Cost of Childcare ($7k x 2)  $14,000  $-   $14,000 Income, net of childcare  $83,971  $53,654  $30,317     Commuting Costs Saved ($200/mo)  $2,400  $-   Work Lunches Saved (100 lunches @ $15)  $1,500  $-   Work Clothing Saved ($50/mo x 12)  $600  $-   Dinners Out Saved ($60 x 50)  $3,000  $-   Household Savings due to frugality ($200/mo x 12)  $2,400     $9,900  $-   $9,900     Income, net of working costs  $74,071  $53,654  $20,417
