Determine the financial impact of both optionsMaking the decision to return to work after staying at home with children, or leaving the workforce to stay at home is sometimes a difficult decision. The financial aspects will be based on the elimination of expenses incurred while staying at home, examples of which are life and health insurance premiums that may be replaced by employer-provided plans. When looking at the benefits of working, income should be weighed against the ability to build a retirement fund through 401(k) contributions, the cost of health and life insurance and the expenses associated with being part of the work force.
Disclaimer: The accuracy of these calculators and applicability to your circumstances is not guaranteed. Calculators are not a guarantee of credit. Results should be discussed with a qualified professional before any product purchases or loan commitments are made.
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