Edit: and even if it did approach it, how does it make sense to have a person sitting at home not developing their career for the 5-7 years it takes your kids to be in full time school? What are they gonna do after that? You hamstring their career and cost yourself hundreds of thousands or millions of dollars when you can't get them back to work later or they just get shitty jobs because they're 35 and no/little experience...
How is that a good plan? Put her to work and let the kids go to school, sheesh. Stay at home mom has absolutely nothing to do all day once they are in 1st grade.
From a child development standpoint, it is totally worth it to have a parent stay at home and focus on childcare. It avoids so many issues and can prevent a lot of behavioral problems. Parents should do what they can to make it happen if it's feasible. That may mean cutting back on vacations, new cars, etc. and living a more modest life, but the benefits to the child are worth it. But, of course, there is a significant financial cost. Not only do they lose out on the current earnings of the parent, their future earnings are typically diminished as they lose many years of work experience and may find it harder to get an equivalent job to the one they left. But even that is a worthy sacrifice for the child. If the parents are really trying to maximize their finances, they should avoid having children altogether. That will save a ton of money in direct costs related to raising a child and allow the parents to follow whatever financial path they want.
But one really important thing parents should realize is that if one stays home, the other is taking on the responsibility of financially supporting the family and financing their retirement. This is where the working parent often feels they get shafted in a divorce when the SAHP gets 1/2 the retirement, child support, and alimony. But that's part of the deal of agreeing to having one parent stay home. The SAHP is giving up their ability to support themselves in order to provide childcare. If the working parent doesn't like it, they should not agree to the other parent staying home. Or get divorced before they quit so that the financial split in the divorce is equitable since both people are working at that time and have similar assets.
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