Tag Archives: half million dollar loss

How I Have Lost Over Half A Million Dollars Having Kids, So Far!

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Since my son has been born, We have lost over half a million dollars in income!

How? 

My wife stopped working to be a stay-at-home mom, the day my son was born.

In her previous work life (before my son was born), my wife was an accountant.  Below is her calculated income based off of the last salary she received before becoming a stay-at-home mom.

Wages and
Year Bonuses
2000 40,000
2001 42,000
2002 44,100
2003 46,305
2004 48,620
2005 51,051
2006 53,604
2007 56,284
2008 59,098
2009 62,053
$503,115.70

I added a 5% standard of living increases for every year after the first year.  I really think she would have made more that the amounts that I have here, but this gets my point across.

We never projected out our future income loss, but as you can see it’s quite substancial (Augh).   With my wife’s former income steam, we could have be living an “Upper Middle” class lifestyle by now.  Vacationing in Paris for Christmas, owning new low-end luxury cars and maybe even a vacation home in the South…  we could have been really living it up

So, the question is, would we change anything if we had it to do over again?  Hmmm maybe! (initially I was going to say no, but half a million dollars is a lot of money).  I think given the choice, I’d at least ask her to continue to work part-time.

Why would I ask that of her?

  • Half a million dollars is a lot of money!
  • It would be nice to have a little bit of security, in case I were to get laid off
  • Half a million dollars is a lot of money!!
  • The kids would learn that everybody has to go to work to earn a living
  • Half a million dollars is a lot of money!!!
  • We would be able to increase our lifestyle, at least alittle bit.
  • Half a million dollars is a lot of money!!!!
  • The extra money could be a huge emergency saving fund
  • Half a million dollars is a lot of money…, really!!!!!!
  • The extra money could have been used to fully seed the kids College funds. (I’m fighting the savings battle with it right now).

All told though, I really do like the fact that the kids have a  mom that is there for them anytime… but, half a million dollars is a lot of money!!!!!

What would you do?  Live better and larger (at least a little), or forgo the money and be a stay-at-home mom?