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The economics also often favor one parent not working- once you include a possible second car plus its gas and insurance and higher tax bracket on dual income, and paying for the childcare- most people do not actually take home much more money than if one was not working. I think it will also be good to have all the family around. My parents moved away when I was little and I have cousins and aunts and uncles that I did not see for 25 years! I finally went back a couple of years ago for my grandparent's 70th Anniversary.
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