From PTA to PhD

No doubt it will be a sacrifice on the whole family's part but kids are more adaptable than we give them credit for and I'm sure they won't be neglected. Consider the example you'll be setting for them with such an accomplishment, one they'll only appreciate more as they grow. Now that's what I call an investment in the future.
Oh and Mauro...no more Wii games for you!

Jody,

Interesting post. I do believe that many people go through similiar analysis. Accomplishing a dream, setting an example for the kids, teaching how to set priorities, understanding the sacrifices that may be required, are all great benefits. I'm curious, what type of analysis went into the decision? Is a PHD required to progress in your career? Is any of the cost covered by your current employement? Will this accomplishment provide any monetary increase? How does this coordinate with your husband's dreams and goals?

My wife and I had made a decision a number of years ago to start a business together. It went well, but was limited by our time, and ability to keep up on changes in technology. We have since started a second business. Now I work with my wife on two business opportunities, and work full time. Our kids are well aware of why we are doing this, our dreams and goals, and sacrifices that will be made. I'd be curious to understand your thought process, and progress moving forward.

David.

Oh gosh… where to begin…
Not sure you will find any absolute resolution on the monetary payoff versus overall value of investing in such a project – too many differing variables and too much individual circumstance to consider.
Don’t think about the overall process until it’s complete or near so; look at it only in pieces. Time management to its utmost goes without saying.
Expect interruptions; if there are none you can be pleasantly surprised.
Do not forget to enjoy and be creative --the intellectual-cum-personal transformation is very rewarding.
For the husband: Patience, patience and more patience.
And for the two of you: communication and understanding.
If anyone can do it, it’s Jody!

Jody,

I enjoyed your post. I went through a similar dilemma a few years ago. I left the frenetic, corporate rat race, and started working on the research that my former travel schedule precluded (I had completed my coursework over the years). After 3½ grueling, frustrating, debt-laden years, I walked across a rain-soaked stage, accepted my degree, and experienced the utter joy of hearing my two young children scream out “Daddy!” from the audience.

All told, pursuing the degree was it worth it, but not from a monetary perspective. My salary today is a fraction of what it was in industry. However, as a professor, I now have more balance in my life, and control over my time (although teaching is not the panacea people make it out to be). For me, I’m happy I did it.

Rick