> Consider a common scenario: childcare in or near a major city that would allow a dual-income household to work 9 AM - 5 PM with commute times factored in. In my experience, that's $15k - $30k per year, _per child_ [2]. Nanny care substantially minimizes marginal per-child cost for > 1 child, but still costs 25k - 40k per year.
This is true, but some times when I talk to young people about children they imagine these costs extending forever. Childcare is an expensive, albeit temporary, expense.
It helps to map out which expenses would be incurred in which years in a spreadsheet. For many, childcare might come down to effectively consuming most or all of one spouse’s after-tax income for a few years, but maintaining career continuity can be worth it.
As I get older, I’m also seeing more of my friends decide that one of them will become a stay at home parent - and ending up happier because of it. I never would have guessed I’d see some of these people voluntarily choose to give up their lucrative careers to stay home with the kids, but then I look and see that they’re happier and less stressed than I am
> Childcare is an expensive, albeit temporary, expense.
It's $15-40k per year for 5-6 years, often per child. Consider 2 children born 3 years apart with no non-nuclear family childcare help, which means 8-9 years of 9 AM - 5 PM childcare needed for at least 1 child.
With a nanny in or near a big city at $25-40k per year, that's $200-400k total. With a childcare center in same scenario, it's likely similar in total cost, albeit with (to your later point) spreadsheet-worthy complexity.
This is true, but some times when I talk to young people about children they imagine these costs extending forever. Childcare is an expensive, albeit temporary, expense.
It helps to map out which expenses would be incurred in which years in a spreadsheet. For many, childcare might come down to effectively consuming most or all of one spouse’s after-tax income for a few years, but maintaining career continuity can be worth it.
As I get older, I’m also seeing more of my friends decide that one of them will become a stay at home parent - and ending up happier because of it. I never would have guessed I’d see some of these people voluntarily choose to give up their lucrative careers to stay home with the kids, but then I look and see that they’re happier and less stressed than I am