Do I ask for a prenuptial agreement?

[Anonymous]

Anonymous wrote:This doesn’t seem like a whole lot of money to protect.

Doesn't get any more DCUM than saying $800k in savings "isn't a whole lot of money to protect."

[Anonymous]

Anonymous wrote:
Best think this guy could do is find himself a young, fine Colombiana.

[Anonymous]

Anonymous wrote:

Anonymous wrote:This doesn’t seem like a whole lot of money to protect.

Doesn't get any more DCUM than saying $800k in savings "isn't a whole lot of money to protect."

It’s not when their combined HHI is going to be $450K and likely to grow.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This doesn’t seem like a whole lot of money to protect.

Doesn't get any more DCUM than saying $800k in savings "isn't a whole lot of money to protect."

It’s not when their combined HHI is going to be $450K and likely to grow.

Yeah, that 800k will only be worth around 6 mil come retirement time. Chump change! Lol

[Anonymous]

Anonymous wrote:

Anonymous wrote:Who's pushing for the prenup? Your accountant or lawyer? Your dad? Or various friends who see your fiance as some sort of golddigger?

They don’t think he is a gold digger. It’s my uncle and my dad who told me to protect my investment money.

I don’t want a prenup. I love him and I know our marriage will last. I can fully trust him and don’t think a prenup is needed. He has already given me the world. He bought me a crazy nice engagement ring and fully bought a condo for us ( in both our names). We are splitting wedding costs.

Your uncle is right. A prenup is a must in your case.

[Anonymous]

If you don't want to deal with a prenup, keep all your premarital assets in the same accounts. Print out account statements of everything the month you get married. Save them.

Keep real estate in your name. Use your premarital assets to do any repairs, etc.

Open up new accounts once you get married and put your paychecks etc into that. Keep it clean.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This doesn’t seem like a whole lot of money to protect.

Doesn't get any more DCUM than saying $800k in savings "isn't a whole lot of money to protect."

It’s not when their combined HHI is going to be $450K and likely to grow.

Yeah, that 800k will only be worth around 6 mil come retirement time. Chump change! Lol

And his $400K will grow to $3M. Moreover, his $150K salary differential will continue to grow and his lawyer will advise him to protect that. That money is going to grow and surpass what she is bringing to the marriage right now.

So yeah, that $800K is not a lot if their combined lifetime earnings and investments are $15M-$20M.

[Anonymous]

The default rule is that premarital assets are not divided in the case of a divorce. So you likely don’t need a prenup to make that the rule in your case.

[Anonymous]

Everyone who gets married signs a prenuptial agreement. It’s called a marriage license. The rules are just dictated by your government, who give 0 shits about your specific circumstances. All a prenup does is customize the rules to your own circumstances.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This doesn’t seem like a whole lot of money to protect.

Doesn't get any more DCUM than saying $800k in savings "isn't a whole lot of money to protect."

It’s not when their combined HHI is going to be $450K and likely to grow.

Yeah, that 800k will only be worth around 6 mil come retirement time. Chump change! Lol

And his $400K will grow to $3M. Moreover, his $150K salary differential will continue to grow and his lawyer will advise him to protect that. That money is going to grow and surpass what she is bringing to the marriage right now.

So yeah, that $800K is not a lot if their combined lifetime earnings and investments are $15M-$20M.

Maybe, but most people piss money away. An early start when it comes to investing is a powerful thing. At a certain point you would need an insane salary to beat someone who got an early start investing.

[Anonymous]

Anonymous wrote:While you have more savings now, he has higher earning potential. If you are protective of your prior assets be prepared for him to be protective of his future earnings.

This is a very important comment.

The prenup actually doesn't seem important for you because, as others have said, your money earned before marriage is already protected and yours. Just keep it in a separate account.

Bringing up a prenup will change the vibe of your relationship, and might make him more protective of his future earnings. I don't see it adding anything positive to your dynamic, and you are already legally protected in the way that you want, so I would not bring it up or do it.

Married 13 years. It does feel good to be a team and build a life together.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'm getting married to my amazing fiance this fall. I'm being encouraged to ask him for a prenuptial agreement. I think it's pretty weird but wnated to ask married individuals what would they do in my situation.

Why specifically are people encouraging you to get a prenup and what’s your relationship to the prenup encouragers?

On the surface , I am not seeing why you should go for a prenup. But there is a bigger money discussion to be had - does he have debt, do you want to keep your side hustle, are you considering staying at home with kids and being on his income plus maybe your investments, if you are further along with investment and 401K what is your combined strategy for retirement?

My uncle. He went through a divorce and she took half of everything, including his 401k. He paid for it all and she was able to take half of his money.

We have talked about having dreams of retiring by 60 and just enjoying the world together. Maybe get an RV or a boat and visit the world. Who knows because that is 30+ years away.

That’s why I asked about your financial plan together. In your uncle’s case it didn’t sound like he was building wealth together with spouse if he paid for it all. When you look at your fiancé making more with less investments and you making less but better investments when you are married and combine both your salaries plus investments plus your financial savvy that puts you ahead together versus solo as long as you work together and not at cross purposes financially.

[Anonymous]

I can keep my money in a separate account but he has already bought us a condo. It feels weird to not use my money.

I don’t know if I will buy any investment properties again. It was a fun little thing for a couple of years. Interest rates and home prices are crazy high.

We plan to combine all of our incomes when we’re married. Pay and buy out of a joint account. We will be operating as team.

[Anonymous]

I personally don’t think that is enough wealth difference to worry about but I would discuss it with your finance and with a financial planner.

When DH and I married almost 20 years ago my net worth was about $1 million (mostly inheritance, but also saving from having lived with my parents) and I had a salary of about $50k. He was a PhD candidate with deferred college loans, a small stipend, and no savings. Now my salary is about $150k and his is about $250k. Our accounts are completely comingled - for instance I have purchased stocks and paid taxes on my portfolio with my salary. Because I had about a 6 year jump start on him with working in a job with benefits, my retirement account (TSP) is still much higher than his, but we both have decent accounts. So, with time, our wealth differential has narrowed.

That said, I might have acted differently if I hadn’t believed he’d likely out earn me eventually.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This doesn’t seem like a whole lot of money to protect.

Doesn't get any more DCUM than saying $800k in savings "isn't a whole lot of money to protect."

It’s not when their combined HHI is going to be $450K and likely to grow.

Yeah, that 800k will only be worth around 6 mil come retirement time. Chump change! Lol

And his $400K will grow to $3M. Moreover, his $150K salary differential will continue to grow and his lawyer will advise him to protect that. That money is going to grow and surpass what she is bringing to the marriage right now.

So yeah, that $800K is not a lot if their combined lifetime earnings and investments are $15M-$20M.

You are describing a best case scenario. The prenup is like insurance and would protect her in a worst case scenario.