I could give up half my pay and not really notice a change in lifestyle. But I’m young, so really I’m just padding my RRSP and high interest savings for future periods of unemployment.
Choose to work less? No problem-- it’s better than getting laid off at age 60, as just happened to a guy I know. The company decided to cut costs by firing the 5 highest paid non-management people. That bites-- especially when the execs are keeping every single perk.
SHIT YEAH!!!
Sorry for shouting.
Mr. tlw and I were talking about this very topic, because despite working from home 80% of the time (I go into the office maybe one or two half days per week, at the very most) I’m thinking strongly about resigning when Baby #2 comes along this fall. We realized that at this point, all of my salary and a good portion of his are going right into our investments, savings and the kids’ college funds. We can certainly manage and even continue to put money away for everyone’s futures if I stay home entirely and do some freelance consulting. So that’s probably what we’ll do.
My staying home will eliminate a number of expenses. We can drop the additional phone line we have now that’s dedicated to my heavily used fax machine. I won’t be laying out money for commuting, business wear, and office-y stuff like birthday lunches and the bagel fund and baby/wedding/funeral/retirement cards. I can drop several professional journal subscriptions which I currently find essential but for which I receive no reimbursement. We won’t break even by a long shot, but we’ll still be perfectly fine so long as Mr. tlw’s income is maintained for another thirteen years, at which point we’ll both happily retire fully.
Or not – Mr. tlw says he might cotinue to work because of a great fear that without a job he’d feel aimless and might be forced to take up some kind of hobby like golfing or stamp collecting. 
Maybe. But I’m going back to school to become a teacher next year, so I can’t see myself getting an education only to give that up. And call me materialistic, but I like digital cable, I like high-speed internet, I like buying new books to read every week, and I like spending weekends going out of town. I don’t mind working, I like working and I’ll like it even more when I’m in my chosen field. I think I’d be resentful if I stayed home and didn’t work, but wasn’t able to enjoy the luxuries that I’m used to having now.
That isn’t to say that the possibility of homeschooling my children eventually isn’t on the horizon - it’s there. But by that point, I’m hoping to make enough as a freelance writer from home that I’ll still have a career.
Ava