Announcement

Collapse
No announcement yet.

Should spouse quit working

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Should spouse quit working

    .I know this sounds really dumb coming from one with my years of experience but I have never encountered this before. Does anyone have a spreadsheet or calculations needed in order to determine whether or not it is worthwhile for a spouse to work?
    Believe nothing you have not personally researched and verified.

    #2
    I've calculated this at times, but don't have a template as it's highly individualized and simple calculations. Start with taxes paid from spouse wages and then make adjustment of costs that pertain to them. Would they spend less on things such as childcare, home and lawn services, transportation costs to get to job, lunches out, dinners out, etc.? That should get you a dollar value, then it's up to them whether it's "worth it."

    Comment


      #3
      Originally posted by taxea View Post
      .I know this sounds really dumb coming from one with my years of experience but I have never encountered this before. Does anyone have a spreadsheet or calculations needed in order to determine whether or not it is worthwhile for a spouse to work?
      It depends on their definition of "Worthwhile"! Just last evening I had an empty nester couple with no mortgage or credit card loans. Wife is a teacher about to get 80% of her salary as pension in 2018 (Max allowed in my state). Husband is a mechanic (both W2 and some Sch C). They met with their financial advisor regarding their investments and decided that it may give them more "quality time" if husband quits W2 job when she retires and just dabble in his Sch C business to pay for beer and vacations!
      Taxes after all are the dues that we pay for the privileges of membership in an organized society. - FDR

      Comment

      Working...
      X