Considering this thread was bumped, I'd like to speak in praise of live-in-nannies.
My brother, sister, and I all grew up with live-in-nannies. Most of them were foreign, either from Switzerland or England and it was absolutely fantastic. We had really, really great experiences with young women from around the world, and the entire family is still in touch with two of the nannies we had, one Swiss, one English.
In addition to having someone with a slightly different perspective on the world around the house, I think having nannies also allowed us to appreciate our parents more, and allowed our parents to be more 'present' when they were at home.
My mother was an executive for oil-and-gas, my father a teacher, and both of them worked long, hard hours (my mother working the longer hours). Having a live-in nanny who was responsible for some simple housekeeping tasks like grocery shopping and general cleaning gave my parents the ability to focus their energy on raising us kids, instead of trying to maintain a home. While there was obviously a lot of home maintenance and errand stuff that still needed to get done, I think having nannies is one of the things which allowed my parents to be really, really frigging great parents.
I will always support the idea of having live-in-nannies. I think it's fantastic for everyone involved.
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