Web Stories Saturday, January 17

Around one-fifth of American families feature a stay-at-home parent, according to the Pew Research Center, a number that has stayed relatively stable for the past four decades.

While many more moms and dads dream of leaving the workforce to spend time with their young children, high costs make it impossible for many.

However, a new Smart Asset study has crunched the numbers to uncover the annual income one working parent would need for their partner to stay at home and raise a child.

Many moms and dads dream of leaving the workforce to spend time with their young children, but high costs make it a pipe dream. Alex Shared/peopleimages.com – stock.adobe.com

The company broke the numbers down for each state, finding that the average New Yorker must earn at least $92,290 before taxes to support themselves, their stay-at-home partner, and one child.

That figure took into consideration the entire state, so the salary is certainly far higher in the Big Apple and the surrounding suburbs.

There were three other states where the average income needed for a working parent surpassed that of New York’s.

In Hawaii, a working mom or dad would need $102,773 to comfortably provide for a family of three, including a stay-at-home partner.

In California, the sum was calculated to be $97,656, while in Massachusetts it’s $97,261.


Aerial view of downtown Buffalo, New York during fall with Lake Erie in the background.
That figure took into consideration the entire state, including small towns and medium-sized cities, such as Buffalo (pictured) The Wild in Focus – stock.adobe.com

Conversely, the states with the lowest income threshold to support a three-person family on one income were West Virginia ($68,099), Arkansas ($68,141), and Mississippi ($70,242).

The full list is available here.

Read the full article here

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