Often balancing employment, kids, spouse, and maintaining a household, moms are exhausted! Each year Salary.com estimates the monetary value of being a mom. Certified Financial Planner Paul Fain joined WBIR to explain the Mother’s Day Index 2018.
WHAT DOES SALARY.COM ESTIMATE AS A TYPICAL MOTHER’S EQUIVALENT WAGE?
At least $112,962 based on a mom’s typical roles, time spent, and an hourly wage.
FROM A TIME PERSPECTIVE WHERE DO MOTHERS SPEND MOST OF THEIR TIME?
- General childcare
- Facility maintenance
BUT MOTHERS WEAR EVERY HAT IN A HOUSEHOLD DON’T THEY!?
- Scheduler/meeting planner (Birthday party, Fundraiser at school)
- Private investigator
- Ultimate multi-taskers.
WE KNOW MOMS ARE AMAZING, WHY PUT A DOLLAR VALUE ON THE ROLE?
Let’s think like financial planners, what would it cost for a family to continue a normal routine without a mom?
- Insure Mothers!
- At least until children are more self-sufficient.
- Express our appreciation