When couples welcome children into to their family, many may want one parent to stay home with the new baby, rather than returning to work. That decision, of course, comes with a number of tradeoffs. Having one parent stay home may help the family to save money on child care, but it could negatively impact the stay-at-home parent’s salary prospect or career growth if they later decide to return to work. Leaving the workforce for an extended period of time could also mean missing out on steady salary increases, adding gaps to their resume that could make it harder to secure future job opportunities, and falling behind on long-term career goals. Couples also have to consider if the working parent’s income is enough to support the entire family. In Hawaii, a working parent needs to earn at least $102,773 a year to support the family, while parents in Arkansas and West Virginia only need to make $70,000. Just how much a parent needs to earn annually so the other can stay home varies by state. If you’re curious about your state, check out the graphic below.
