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SAHM or Work - which is really better financially?
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amother


 

Post Wed, Oct 01 2014, 6:27 am
Now I'm a SAHM. Next year I won't have any kids at home (going to school), so I contemplated going back to work. But after thinking it through, it doesn't seem like I'll be coming home with anything - and perhaps even losing out.

Right now, with only dh working, we just about qualify for Medicaid. With me going back to work, we'll lose it and have to pay insurance which will most likely be all or a large part of my paycheck.

Now we get a few thousand dollars in tax returns a year. If I go back to work, we'll probably go over the income limit and not only lose the return, but also have to pay.

I will need cleaning help (which I don't have now); that will be another expense.

And all the little stuff that we don't think about, that come along with going back to work. Takeout more often, clothing (now I wear some old stuff at home), wig maintenance, etc.

So at the end, does it really pay to go back??

(Besides for the fact that I have no clue how I'll manage working plus cleaning plus cooking plus YT plus childcare plus appointments etc). I feel overwhelmed just thinking about it.
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chani8




 
 
    
 

Post Wed, Oct 01 2014, 6:39 am
If you dont want to go out to work, then certainly dont do it. Maybe you could make a small business of some kind, if you need some extra cash.
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Raisin




 
 
    
 

Post Wed, Oct 01 2014, 6:41 am
what is your field? Is it high paying? If it is not, maybe use the time to aquire new skills.
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kollel wife




 
 
    
 

Post Wed, Oct 01 2014, 6:41 am
Now with Obamacare, insurance premiums through the marketplace are subsidized based on income, so that you won't jump from free insurance to super expensive insurance. It is a form of Medicaid.
Also, you can try to work part time, so your income won't go up so much, and you will still be able to take care of your household - cleaning, shopping, laundry, etc.
You can do something from home such as office work or child care?
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Lady Godiva




 
 
    
 

Post Wed, Oct 01 2014, 6:42 am
That, in a nutshell, is a major problem in the U.S. today.

One good reason for you to go to work would be to stop taking government aid, but do you really want to bust your @ss to do that?
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Emotional




 
 
    
 

Post Wed, Oct 01 2014, 6:51 am
Okay...
Let the Mommy Wars begin!
Ready... set... GO!
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morah




 
 
    
 

Post Wed, Oct 01 2014, 6:54 am
Obviously, it really depends. If you get a job with health insurance, that part of your income is not taxed, so you may not necessarily lose your tax refund. There are also childcare credits (if you have kids in preschool, in some situations, you can use pretax dollars for the tuition because it's considered childcare). Also, you have to think about what kind of job you're dealing with here. If it's a dead-end job, then it's probably not worth it to work to bring home nothing, but if you are entry level in something with real potential, then it's worth the year or two of barely breaking even to get to the point where it is worth it. Also, during that time, you are paying into social security, something you are not doing if you're not working. You are also building experience that can get you promoted or considered for a better job elsewhere.
As to the practical stuff- it's not a given that you will need cleaning help AND take-out. I personally need cleaning help, but I almost NEVER buy take-out. Appointments and stuff- well, this is where it's important that one spouse has a flexible job (unless you're both very highly paid professionals and can have a nanny take care of everything). As a teacher, my job isn't flexible- I have to be there to teach. But, I'm home earlier in the day. So I am available to deal with stuff in the afternoons. My husband works longer hours, but he doesn't necessarily have to be in the office- some of his work can be done remotely. So he can deal with stuff in the morning and come in at 10. He is also the one who stays home when a child is sick, because again, he can work from home for a day or two if need be. Anyway, there are a lot of individual factors- so the things you're worried about may be an issue, but they also may not be. Only you know the full picture here.
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amother


 

Post Wed, Oct 01 2014, 6:57 am
Raisin wrote:
what is your field? Is it high paying? If it is not, maybe use the time to aquire new skills.


I don't have any.
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mummiedearest




 
 
    
 

Post Wed, Oct 01 2014, 6:57 am
you really have to know your numbers to make a decision like this. why not calculate how much you can make without losing benefits? I find it easier to keep the house running if I have a set schedule out of the house a few hours a day/week. this includes being out with the kids. try setting up a hypothetical schedule and see if it can work for you.
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amother


 

Post Wed, Oct 01 2014, 6:59 am
kollel wife wrote:
Now with Obamacare, insurance premiums through the marketplace are subsidized based on income, so that you won't jump from free insurance to super expensive insurance. It is a form of Medicaid.
Also, you can try to work part time, so your income won't go up so much, and you will still be able to take care of your household - cleaning, shopping, laundry, etc.
You can do something from home such as office work or child care?


Working part-time sounds like a solution. But with the insurance issue - it'll be even worse. We won't get Medicaid and I won't make enough to pay insurance.

Is this Obamacare really good? I've heard that it turned out really bad - like people not getting doctors or bing denied treatment
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smss




 
 
    
 

Post Wed, Oct 01 2014, 7:00 am
you also have to think about the future. you say you have no "field"- does that mean you have no degree, job experience...? for now you are doing fine with your husband's salary & being on medicaid, but a few years down the line, with older kids (or maybe more kids) you might need something more. like others have said your first year or two at any job you won't make much, salaries go up with experience. so this might be an investment for the future.
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amother


 

Post Wed, Oct 01 2014, 7:01 am
mummiedearest wrote:
you really have to know your numbers to make a decision like this. why not calculate how much you can make without losing benefits? I find it easier to keep the house running if I have a set schedule out of the house a few hours a day/week. this includes being out with the kids. try setting up a hypothetical schedule and see if it can work for you.


We don't get any benefits other than Medicaid. And with our family medical history we can't risk being without insurance, good insurance.

And I looked it up online. We now make just about under the income limit. There's no way I can get a job and still qualify.
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amother


 

Post Wed, Oct 01 2014, 7:04 am
smss wrote:
you also have to think about the future. you say you have no "field"- does that mean you have no degree, job experience...? for now you are doing fine with your husband's salary & being on medicaid, but a few years down the line, with older kids (or maybe more kids) you might need something more. like others have said your first year or two at any job you won't make much, salaries go up with experience. so this might be an investment for the future.


I worked in an office. No degree. With this situation, I feel like I can't just do office. The income won't be enough to cover all those expenses. And lose out now so that in a few years I'll hopefully earn a few dollars more?
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amother


 

Post Wed, Oct 01 2014, 7:14 am
morah wrote:
Obviously, it really depends. If you get a job with health insurance, that part of your income is not taxed, so you may not necessarily lose your tax refund. There are also childcare credits (if you have kids in preschool, in some situations, you can use pretax dollars for the tuition because it's considered childcare). Also, you have to think about what kind of job you're dealing with here. If it's a dead-end job, then it's probably not worth it to work to bring home nothing, but if you are entry level in something with real potential, then it's worth the year or two of barely breaking even to get to the point where it is worth it. Also, during that time, you are paying into social security, something you are not doing if you're not working. You are also building experience that can get you promoted or considered for a better job elsewhere.
As to the practical stuff- it's not a given that you will need cleaning help AND take-out. I personally need cleaning help, but I almost NEVER buy take-out. Appointments and stuff- well, this is where it's important that one spouse has a flexible job (unless you're both very highly paid professionals and can have a nanny take care of everything). As a teacher, my job isn't flexible- I have to be there to teach. But, I'm home earlier in the day. So I am available to deal with stuff in the afternoons. My husband works longer hours, but he doesn't necessarily have to be in the office- some of his work can be done remotely. So he can deal with stuff in the morning and come in at 10. He is also the one who stays home when a child is sick, because again, he can work from home for a day or two if need be. Anyway, there are a lot of individual factors- so the things you're worried about may be an issue, but they also may not be. Only you know the full picture here.


A full-time non-flexible job doesn't equal high pay. My husband works his *ss off, no flexibility, but doesn't have some high-ranking/paying job. Neither does he help around the house. So I feel like it's all on me.
Right now, we can live on what we earn (abt 25-30,000 annually). It's far from a lot, but we live frugally. I would go back to work so we would have what to save up. If it we would be financially strapped, I'd jump into work without thinking. But to work like a dog, at work and at home (and hopefully stay sane), so that we can dream of one day buying a house or pay for college or take a nice vacation??

Is there really no better way other than winning the lottery?
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Barbara




 
 
    
 

Post Wed, Oct 01 2014, 7:26 am
amother wrote:
A full-time non-flexible job doesn't equal high pay. My husband works his *ss off, no flexibility, but doesn't have some high-ranking/paying job. Neither does he help around the house. So I feel like it's all on me.
Right now, we can live on what we earn (abt 25-30,000 annually). It's far from a lot, but we live frugally. I would go back to work so we would have what to save up. If it we would be financially strapped, I'd jump into work without thinking. But to work like a dog, at work and at home (and hopefully stay sane), so that we can dream of one day buying a house or pay for college or take a nice vacation??

Is there really no better way other than winning the lottery?


The "better way" is for you to develop a skill so that you can get a job that will get you out of poverty.

You don't mention how many children you have. (As an aside, at $30,000 per year, wouldn't you qualify for SNAP with 2 kids?) But how do you anticipate paying for tuition and other expenses on your husband's income alone? Even the cheapest school is 1/6 of your income. And what about savings?
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LittleDucky




 
 
    
 

Post Wed, Oct 01 2014, 7:37 am
Where I live ANY insurance is better than Medicaid. So even not being able to keep your doctor it's better than government insurance. So it boggles my mind. Can you please explain that to me, how you'd rather keep Medicaid than get anything else?
Can you get certification in anything?
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kollel wife




 
 
    
 

Post Wed, Oct 01 2014, 7:42 am
OP - I'm not sure what you are referring to. But I think if the person had previously had insurance and then switched to Obamacare they are limited to certain doctors, and if they wanted to continue using them, they had a problem.
But that is already true with Medicaid - you know which doctors participate. You can speak to an insurance person in your doctor's office and see what they know about the plans available which they'd participate with, etc. With Medicaid you already have an HMO eg United Healthcare community plan. I think each plan should have a website where you can look up coverage, participating doctors etc, what medications they cover, etc.

If you are in Lakewood someone in the LRRC or in Chemed would be able to help you too.
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amother


 

Post Wed, Oct 01 2014, 7:54 am
Barbara wrote:
The "better way" is for you to develop a skill so that you can get a job that will get you out of poverty.

You don't mention how many children you have. (As an aside, at $30,000 per year, wouldn't you qualify for SNAP with 2 kids?)


We do qualify for snap. But for about $20 or less a month. So I'd rather buy less and not take it.

And how do I develop a skill without going to school?
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out-of-towner




 
 
    
 

Post Wed, Oct 01 2014, 7:59 am
LittleDucky wrote:
Where I live ANY insurance is better than Medicaid. So even not being able to keep your doctor it's better than government insurance. So it boggles my mind. Can you please explain that to me, how you'd rather keep Medicaid than get anything else?
Can you get certification in anything?


Not the OP, but insurance costs money. Yes, even Obamacare. If OP starts to work, she will not qualify for Medicaid, but will have to still pay for insurance. And that might just cost her more than what she is making.

And I am on Medicaid in NY (I am in school and DH is just starting a career). It is pretty good B"H. My previous insurance had crazy co-pays and I ended up with a $5K+ hospital bill after my baby. Medicaid covers a LOT, and I am able to keep my OB (I did have to switch GPs.)
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naftala




 
 
    
 

Post Wed, Oct 01 2014, 8:02 am
"Obamacare" is merely a nickname for the Affordable Health Act. If you go on to the exchange to purchase Health Insurance, you may well qualify for a subsidy - which could reduce your costs substantially. You have a choice of different insurance policies that are offered by private health insurers. What policies are available depends on what insurance carriers have decided to offer in your state. You would have to see (1) how much your premium would be and (2) whether the policy you wish to purchase has your doctors on its plan. That's what you would have to do to figure out whether it would be feasible to go back to work...
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