Wednesday, October 27, 2004

The Value of Stay-At-Home Parents

My wife recently pointed out an interesting tidbit from the current (November 9) issue of Family Circle magazine. It wasn't an article that caught her attention, but rather a full-page advertisement for State Farm insurance (page 52). The ad, cleverly designed to look like an article (though it does include an advertising disclaimer at the top of the page), prominently displays the headline: "Insuring Stay-At-Home Parents." It goes on to point out a that many families don't take stay-at-home parents indirect financial contribution into account when planning their life insurance (if they even have life insurance).

What struck me first was the fact that the whole ad is gender neutral, even though I am sure that Family Circle's target demographic is primarily women. While at-home dads are not specifically mentioned, at least we're not excluded. Hey, I'll take that as a positive sign!

The other striking thing, at least to me (and my wife) was that the ad states that "the value of jobs handled by a stay-at-home parent is estimated at $70,000 per year...." They cite a July 2002 report by the US Department of Labor, Bureau of Labor Statistics as the source of that figure.

I haven't had the time to research the numbers to back up that statement, but it appears I may be worth more, financially speaking, to my family as an at-home dad than I was at my last job! I knew I was underpaid! ;-) How about that?

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