Should my spouse enter the work force?

A working spouse can provide additional needed household income. However, when making your decision, you need to look at the net income generated by a working spouse not simply the gross income. Factors such as health insurance savings, increased daycare expenses, additional transportation costs, etc. need to be considered. Use this calculator to help determine the potential additional take-home pay.
Current Monthly Expenses
Daytime child care (if applicable) ($) 
Life insurance premiums ($) 
Medical insurance premiums ($) 
Monthly Salary and Benefits
Potential gross monthly income ($) 
Proposed 401(k) plan contribution (% of salary)> (%) 
Employer match (%) 
Maximum employer match (%) 
Life insurance premiums you will pay ($) 
Medical insurance premiums you will pay ($) 
Monthly Work-Related Expenses
Business entertaining ($) 
Child care ($) 
Clothing ($) 
Housekeeping ($) 
Meals ($) 
Transportation ($) 
Income Tax Information
Federal marginal tax bracket (%)help
State marginal income tax bracket (%) 
Would earnings be 'self-employment' income? 
The information provided here is to assist you in planning for your future. Any analysis is a result of the information you have provided. Material discussed is meant for general illustration and/or informational purposes only and it is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary therefore, the information should be relied upon when coordinated with individual professional advice.

Any rate of return entered into the interactive calculator to project future values should be a reasonable average return for the period. Rates of return will vary over time, and generally the higher the rate of return the higher the degree of risk.

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