Good Financial Reads: Posts for Parents (Part Two)

The motherhood penalty refers to the career penalty women face after having a child. It can affect wages, the ability to get hired, workplace evaluations, and promotions.

Across both time and countries, on average, women earn less than men. According to this article, if you look across the world, you won’t find a country where men and women receive equal pay. This leads to the two primary questions this blog will address.

A year ago, my husband and I were thinking about hiring a nanny for our newborn. Of course, there are the more familiar things to consider when hiring a nanny: references, background check, experience and credentials, and overall personality fit. But I didn’t realize how complicated it could get if you employ a nanny until I started researching. There are three things I suggest discussing with your partner before deciding to hire a nanny: Taxes, Nanny Payroll Service, and Workers’ Compensation Insurance. Now, I realize these are not exciting topics. But you want to make sure you’re addressing these things before you hire a nanny. It’s important to be on the same page and to ensure that the costs are covered in your budget.

Most of my clients are in their 30s and 40s, and many of them are either starting families or adding to them.

Many of these soon-to-be parents ask me, “how much do we need to save before having a baby? What should we have in the bank before we start thinking about having kids?”

For most people, the phrase “trust fund baby” does not come with positive associations.

It’s a description that conjures images of spoiled children that may grow up to be dilettantes as adults; of people that seem divorced from the reality of working for a living or being financially responsible for their own futures.