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New Mom Tells Dave Ramsey Her Husband Makes $950,000 But Won’t Let Her Stay Home – ‘I Think You Can Probably Get Through It’

Renowned personal finance guru Dave Ramsey tackled a dilemma that goes beyond dollars and cents. Toronto caller Mercedes, a new mom on maternity leave, wanted to embrace the role of a full-time stay-at-home mom but didn’t know how to “ask her husband.”

With her husband’s annual income of $975,000 – a figure that not only puts him in the top 1% of earners in Canada, but significantly above the average of this elite group, which hovers around $512,000 per year – the financial considerations seemed negligible. However, Ramsey astutely recognized that Mercedes’ hesitation stemmed from a deeper source of emotions and societal expectations.

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Ramsey acknowledged the family’s financial security, saying, “With a salary of $975,000 a year, I think you could probably struggle the hell out of it.”

While Mercedes’ annual income of $90,000 is nothing to scoff at, combined with her husband’s earnings, it becomes clear that finances wouldn’t be a major obstacle to her decision.

Mercedes explained that her husband worries that she “never wants to go back to work.” She explained that his mother worked three jobs and she thinks he has the same expectations of her, but Ramsey interrupted her to emphasize that he makes almost $1 million a year.

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Drawing from his own experiences, Ramsey shared how his wife, Sharon, chose to become a full-time mother more than thirty years ago, a decision he holds dear.

“It’s not just about the money,” he says. “It’s about what you want your life and family to look like.”

With these words, Ramsey reframed the conversation, moving it beyond finances and toward personal values ​​and family aspirations.

In a society where a woman’s worth is often equated with her career achievements, the concept of ‘mother guilt’ looms large. Ramsey recognized this insidious phenomenon, where mothers face judgment and self-doubt regardless of their choice to work or stay home. This sentiment reflects a broader cultural debate about the value placed on career versus family life and the ever-evolving expectations surrounding parenting roles.

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Ramsey’s advice to Mercedes was as pragmatic as it was compassionate. He urged her to have an open and sincere dialogue with her husband, exposing her desires and concerns. Only through honest communication and mutual understanding, he said, could they navigate this emotional landscape and align their personal goals with their shared vision of their family’s future.

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Real wealth isn’t just about the numbers in a bank account; it’s also about the value of time with family and the decisions that align with personal values ​​and happiness. No matter how you feel, not everyone is in a financial position to stay home with their children.

According to a report from the Center for American Progress, the financial burden of child care on American families is significant, especially those with children. On average, the cost of child care for a family with an infant is just over $1,300 per month. This amounts to almost $16,000 per year, which is about 21% of the US median income for a family of three. Such expenses are especially challenging for families to manage because they occur at a time when their financial flexibility is often most limited.

A recent Pew Research Center study analyzing data from the US Census Bureau found that 18% of parents remained out of the workforce in 2021, a figure consistent with 2016 figures.

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For families struggling with decisions about returning to work amid high childcare costs or considering moving to one income to care for children at home, seeking advice from a financial advisor. A financial advisor can provide insights and strategies tailored to individual or family circumstances, helping to navigate the financial implications of such life changes. Hiring a professional can ensure that the decision to adapt work for family care is not only emotionally and practically justified, but also financially feasible.

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This article New Mom Tells Dave Ramsey Her Husband Makes $950,000 But Won’t Let Her Stay Home – ‘I Think You Can Probably Struggle Through It’ originally appeared on Benzinga.com

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