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Strike A Balance Before Poverty Hits!


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#1 cybertrano

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Posted 17 September 2005 - 09:01 AM

First the questions then a personal experience to share.

This is something that just bugs me for many years. At what family income level is consider comfortable before two parents need to work? Let me elaborate more on this. If a family with an income level of $40K per year, then the mother needs to get a career and have children, instead of having one parent staying at home for the rest of his/her life to childrearing. At this income level, with 1 or 2 children in the house the family is near the poverty level. They are not able to live securely, comfortably, have no health insurance etc.. What good is it if a a mother/father stay at home to care for the children when other areas are severely lacking?



A personal story to share is coming up shortly. Stay tune.

#2 cybertrano

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Posted 17 September 2005 - 09:34 AM

Here is a story -

I have an older brother who lives with his family in Orange County - 1 wife and 3 kids. He has a business that provides about $35,000 per year for the whole family since the early 90's. When I was in the South visited him in 1994, they had three kids and the wife decided to stay home to take care of them. I told my wife "the way I see it, his family is heading toward poverty!. Why doesn't she go to work to get the additional income because they can't survive at $35K for a family of 5 in a very expensive city" . It's great that the mother can take care of her kids, but it's not good when you can not provide other critical needs - health insurance, money for rainy days, etc...

Currently my brother is getting treatment for severe depression that was caused in part due to the inability to provide for the family. They are currently living in a rental home - 2 bed rooms for 5 people.

#3 goodmama

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Posted 17 September 2005 - 09:40 AM

I'm sorry to hear about your brother. I'm wondering... if his business only brings in $35,000/yr., would he be better off going to work for someone else where he can earn a higher salary and get benefits? What kind of work does he do?

How old are the children? If the wife works and has one or more children in day care, they may not be much more ahead financially -- unless getting the insurance is the critical difference.

When my son (2nd child) was born, we took a look at our finances. My salaray bumped us into a higher tax bracket. In addition, we'd have to pay for two children in day care, plus the expense of my business attire, dry cleaning, lunches with employer recruiters, etc. We discovered that we wouldn't be keeping much of my salary at all, so I decided to stay home. Now I run my home-based consulting business.

Does your sistser-in-law have any skills she could use for work-at-home? Are the children old enough to not need her there during the day? Could she work a swing shift when her husband is at home to help make ends meet?

#4 cybertrano

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Posted 17 September 2005 - 10:18 AM

Heere is the important part for many families taking into consideration the expensive part of child care. i know it's very expensive to get childcare, but then childcare period is only 5 or 6 years. after than you (the mother) need to go to work to get the $ since the family income is at the poverty level. the more the mother waits to go to work the less employable she will become as she get older.

Anyway, I asked the sister in law many years ago that why doesn't she go to work because of her family income which is dangerously insufficient. She told me - that my brother's business needs a helping hand. Whatever!

#5 cybertrano

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Posted 17 September 2005 - 10:19 AM

We came and visited him in May this year and he looks BAD!!!!! Both I and my sister (the one living in San Diego) cried. He told my sister that he may die. His depression is damaging his whole body - mentally and physically.


While my San Diego sister and her family is making over $200K per year. What the world is going on.....

#6 Dave Burrell

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Posted 17 September 2005 - 10:32 AM

Its tough out there and about the only way to strike that balance is to factor in all the living costs and so on to try and figure it all out.

Orange County itself is an expensive place to live, in reality your brother should be proud he's been able to keep a roof over his family with that kind of income, thats actually amazing.....my thoughts would be that living in OC, raising three children and renting a house would require somewhere around 80k a year to make it - the fact he's doing it on 35k is incredible...but likely very tough on them all.

Its probably best that your brothers wife stays home to raise the kids - the cost of child care is very high when they are young (as you'll be finding out) and its really good for the kids to be with their mom at a young age - it may not seem that way but the benefits of her staying at home while the kids are young is likely better then what she could have made going to work and then having to pay $$$$ for child care... but as the kids get older and into school and such, that'd be a good time for her to go to work to help provide additional income.

Its sad to hear your brother is battling depression, he certainly has a lot of responsability on his shoulders and running a business is very very hard.

Best of luck to him - hope he can find a way to get well.

Travel, food and drink blog by Davehttp://davestravels.tv

 


#7 cybertrano

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Posted 17 September 2005 - 11:23 AM

His 1st born daughter is going to college right now. I am very proud of them all for that, and the fact that they live in a very bad part of santa ana. The son is 14 year old and another daughter is 6 year old.

#8 goodmama

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Posted 17 September 2005 - 11:48 AM

Hm, so your sister-in-law helps at your brother's business? Is that saving them a significant sum of money (that they'd have to pay to hire someone else)? Is she helping him full-time? If not, she has time to find a job that will contribute to their income. Does your brother want her to find a job?

What kind of business is this? Has your brother considered dropping the business and taking another kind of job? Is he being treated for depression? If not, is that because he doesn't have insurance? Has he always suffered from depression (the clinical version) or is this situation-specific to the money issues?

#9 Dave Burrell

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Posted 17 September 2005 - 12:23 PM

QUOTE(cybertrano @ Sep 17 2005, 11:23 AM)
His 1st born daughter is going to college right now.  I am very proud of them all for that, and the fact that they live in a very bad part of santa ana.  The son is 14 year old and another daughter is 6 year old.

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oh man college age and a teenager - thats a whole different story....even more expensive! and Santa Ana, ouch, I know that area well.... other then the 6 year old the kids are now self sufficient, but that has got to be hard having children with such a wide age range. Sounds like he's doing the best he can and having come this far - that is to be admired.

Travel, food and drink blog by Davehttp://davestravels.tv

 





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