But mortgage loan debt is way more deductible, as well as dischargable in bankrupt, so you should have paid off student loan (which is weird that your student loans were less than 4%). Yes, you need to think about medical insurance if he goes part time — esp if you are both part time You need a financial advisor desperately. You seem a little uninformed and it sounds like your DH doesn’t care. |
So you say he is a doctor? Can you tell us where??? |
OP here and I'm not sure what to tell you - at one point in time, these things were a huge point of conflict, esp. when we first moved in together, but at some point I decided to choose our relationship over "being right". He honest to goodness does not see the point of separating lights and darks - he says it doesn't matter if the whites turn gray, why should it, etc. He doesn't believe that kids should be signed up for any kind of sports or activities outside of school, and that our society in general over-schedules children. And he kicks me out of the house on the rare occasions that he cooks, because I get so visibly anxious about where he is putting that raw chicken. I once caught him trying to cook chicken wings that were so spoiled that they smelled like feces, and we spent a half hour arguing about it because he was convinced it would be fine once he cooked it because it would kill the germs. And he believes that anything that is still sealed never goes bad, including eggs because they have a shell. Again, I wish I were joking, but unfortunately I'm not. He is incredibly intelligent in some areas but sorely missing common sense in other areas, and even after 20 years together, he still finds ways to confound me with his flawed reasoning and his blind attachment to it. When we first met, we argued about things like the existence of "merge lanes" on the highway - he was convinced there was no such thing (after almost getting into several car accidents). There is no diagnosis that fits him, he is an oddball in that respect, but I think the most challenging part is that he doesn't believe he has a problem - he believes everyone else has a problem. Anyway, I digress.... |
Holy smoke. Sure this wasn’t the life you expected when you decided to be a doctors wife. Seriously; where does he practice? |
The school loan was consolidated at below 3% interest. I remember researching the issue, and it was kind of a wash between the two. |
| Oddball is not the word I would use... but the word I would use happens to have same number of characters. |
LOL, no, and now that I write it out, I am starting to understand why I'm so overwhelmed all the time. He is actually an excellent top-rated physician - so many of his colleagues rave about him, and his patients too. |
Given that we do not yet have time machine technology, my only advice to you is: See a financial planner. Drink a glass of wine a few times a week. Never, ever stop working. |
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He likely could be diagnosed, but it's not your job to diagnose him or push him to seek one. Please realize, though, that if you go back to work this arrangement you currently have will fall apart. I strongly recommend marriage counseling, probably just in general and definitely to discuss division of labor if you go back to work. For example, you need to agree on a couple what activities the kids will do, what housework is important and who does it, etc. You are a team, and if he wants to scale back his financial contribution -- which is totally reasonable -- that needs to be part of a team effort in which he steps up in other areas. He doesn't just scale back his work and garden while you do everything around the house.
I am married to someone who is similar in some ways, likely diagnosable but generally presents as a man-child. Marriage counseling helped. Good luck. |
Like I said, the biggest problem is that he doesn’t recognize he has a problem. I’ve brought up marriage counseling multiple times, and he has shot that down each time. I can’t win any argument and for my own sanity’s sake, I have stopped trying. Our marriage saver was when I stopped working and took over the household/childcare realm. In his defense, he is not a complete man child as he makes a good salary, and he is handy, takes out the trash, plays with the kids. But yeah. Your point is well taken that if I go back to work full time, it will all fall apart. He knows it on some level, because he doesn’t want me to go back to work. But I think it also stresses him out to be the sole financial provider, and to feel stuck doing something he dislikes for such a big part of his life. |
Well it is very unusual to have a fixed 3% interest rate on 5-6 figure student debt, but sure. But if it was a wash, you really should have paid off student loan since that is not dischargeable -- so when you all end up in the hospital for 6 months after salmonella poisoning and have to declare bankruptcy you could get the mortgage loan cleared and start fresh. Though honestly, not the least of your problems. you don't work now, DH is MIA for household stuff, and he wants to cut back his time to garden and contemplate the meaning of life? Hopefully he was some high paid specialty, so you raked in a couple of $1M and can now chart a new life forward? Have you considered moving? I have a buddy who works in rural Louisiaina, and makes gobs of money (like $400k) b/c they are desperate for medical care in the sticks. I have no doubt he can pull down a great salary for part time work, and then have low COL and high income so everyone is happy. |
He doesn't have to recognize that he "has a problem." He does have to recognize that his choices have an impact on the family he chose to create with you. So he takes out the trash and fixes things, but can't keep the kids' needs organized, or do laundry or cook competently. He is capable of bringing home most of the HHI, but doesn't want to do that either because he "dislikes" it. But he doesn't want you go work because he knows that he can't run the household. I suggest that you get therapy for yourself. |
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I meant it was a wash after factoring in all those variables. You can also apply for forbearance for school loans if experiencing financial hardship.
Anyway yes I would love to speak with a financial planner but DH is against any outside help, and thinks we can figure it out on our own. And to some extent he has gotten better informed on it, and has actually reviewed his 401k investments etc. We have considered moving, but decided not to, we are pretty happy where we are and it’s such a great place for our kids to grow up. But yes, that was basically DH’s fantasy- to move somewhere remote, make loads of money so that he wouldn’t have to think or worry about money anymore, and then retire by 50 and do whatever he wanted. |
Op here, In response to 13:59 |
He’s not quitting his job or scaling back yet. I just know that it is what he ultimately wants to do, and of course he would prefer sooner than later. But he wouldn’t do it until we were financially ready. |