We finally decided our plan for the upcoming year. After the baby is born this summer, Scott is going use FMLA to cut back his work schedule for the next year. He’s going to take off a month, then work 4 days a week until next summer.
He’ll still be entitled to full benefits. His leave will be unpaid, but since we’ll both be home, we’re going to let our nanny go, which will free up about $7,000 per year. (Even after I quit my job, we kept our nanny on two mornings per week so that I could write.)
Once you consider taxes, retirement contributions, and the cost of our nanny, our monthly cash flow won’t actually be reduced by much!
However, the part that is the most exciting right now is that he’ll be able to enjoy life even more, by working less!
By the way, we gave our nanny 3 months notice so that she’ll have plenty of time to find another family. We didn’t want to cause her any money troubles by being out of work.
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