Hello, and first thanks for any assistance that can be provided.
I have been living in an unhappy marriage for several years and it has now gotten to the point that I need to get out for my own emotional well-being, as well as for my kids (as I don’t want them growing up in a house filled with stress, anger, etc…)
I have used both the Alimony and Child Support calculators on this site and the amounts returned were shocking, and showed me that I would not be able to afford Alimony, Child Support and just a 1 bedroom apartment in the Charlotte area.
[ul]We live in the Charlotte, NC area.
I work and annual gross income is approx. $115k/yr.
Health/Dental/Vision insurance is provided through my work at approx. $180/month.
My wife does not work, and has not worked since 2005.
I do not have any education past high school. (I am completely self-taught / on-the-job training)
My wife has a bachelor’s degree in Computer Science.
We have 2 kids, 9 and 2.
We will have been married 9 years this spring.
My wife was recently diagnosed with epilepsy (which has nothing do to with the reason for divorce). It is currently controlled by medication.[/ul]
Based on the Child Support Calculator on this site, the recommended Child Support Payment I would have to make is $1,150/month. That is with both of us having 182 days/year with the kids.
Based on the Alimony Calculator on this site, Alimony payments could range anywhere from $1,700 at the low end, to $4,250 at the high end, with the overall average being $2,700.
With that said, taking a Child Support payment of $1,150 plus the average Alimony payment of $2,700, it would end up costing me approx. $3,850/month if I were to get divorced.
After taxes, 401K contributions, Employee Stock Purchase Plan contributions and health insurance and taken out, my final paycheck comes to approx. $2,150 every 2 weeks.
Except for 2 months a year, I get paid twice a month for a total of $4,300. (except for 2 months, where the 2 week payment schedule works out to where I am paid 3 times in the same month)
All that being said, is it really possible I could end up paying 89.5% of my monthly income to cover alimony and child support?
Will there be any consideration given to the amount of money I’d have left over after having paid Alimony and Child Support each month, or am I up the proverbial creek?
Thanks in advance for any help, guidance and/or answers you may be able to provide!