question about better pay for mom returning to work

[Tiggeroo]

If you are a SAHM mom planning to return to the work force, and plan to work 20-25 yrs which would be a better career choice. You can survive without your income now, but will need it down the road.
Finish a degree that would take one to two part time semesters, offer a starting salary of approx. $38,000. a year but retirement comes with health care and a real pension (not 401k)

Finish a degree which will require full time for 3 yrs. and will offer starting salary of $57,000. a year but may not come with the above retirement benefits.

If your husband is older then you, and you may not always be able to count on his income, he has a pension but no health benefits when he retires.

I am trying to figure whether the higher income will make up for a retirement where I have to worry about the lack of pension or health care. Also, having seen my father retire as a fireman, where every promised benefit was eventually stripped away ( he now works full time at 60 after 30 years with the fire dept. just to keep his health care) I also am thinking that nothing is a sure thing and maybe money it is better to have money now.

 

[Kirk]

You can't always count on a pension! My company just discontinued there plan and are offering more matching toward the 401K. More and more companies are looking at ways to have their employees mitigate retirement cost and health care.

My feelings are you should go for the career that you'll be the happiest in for the long run. If that means delayed gratification so be it!

Just my 2 cents!

 

[addicted_to_WDW]

I agree, choose the career that will make you happier, however...

I work for the government, and although I make less than I would in the private sector, I stay because of the stability, retirement benefits, and especially my guaranteed lifetime health care. It just wouldn't be worth the extra money for me to leave my job, so I can understand you strongly considering the lesser paying job because of the excellent benefits.

 

[Tiggeroo]

I watch my parents, and I worry what will happen when my father can't work any more. I am assuming dh and I will have to help them with health care expenses. And my father stayed in a job just for the benefits. But he worked for a city that was borderline bankruptcy.