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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]What’s interesting to me is that a lot of SAHMs don’t seem to realize they aren’t contributing to retirement.  They will often say their husband is saving in other accounts, but they don’t recognize how the benefit of a 401k is bankruptcy, tax deferred etc.  [b]They also don’t seem to understand that their husband’s 401k is only in his name[/b].  My own mother stayed home and I have power of attorney for my dad.  She can’t even call up the brokerage firm to make a transaction since her name isn’t on the account.  SAHms are truly screwed on the retirement front.  [/quote]

This isn’t the SAHM fault. Why isn’t it a law that married people can share their names on a 401k? All other assets from the marriage are usually considered joint property.[/quote]

I think it's the same logic as to why the company paycheck is not made out to the married couple but to the employee only.  The 401K is a company perk, not a couple perk.  Of course by law it is a marital asset just like the paychecks earned during marriage are.  But that is for the divorce lawyers to settle if it comes to that.[/quote]

But pay checks, written out to the employee, are put into whatever account the employee designates, including joint accounts.  The same should be done with retirement accounts.  Its not like every company out their holds the 401K.  They transfer the money to larger financial institutions like Fidelity and Vanguard.  There is no reason employees shouldn't have the option to make these accounts joint.

I will add that I've found with our health insurance that only I have access to all of the billing info when we've had insurance through my employer, and only my partner has access to all of billing info when we've had insurance with his company.  We've kept the same insurance plan over the years (Kaiser), but who Kaiser gives full access to depends on whose employer provides the health insurance.  It makes zero sense.  [/quote]

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