Reply to Retirement finances in an age-gap relationship or marriage

Forum Index » Money and Finances

Reply to "Retirement finances in an age-gap relationship or marriage"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]If he still is in debt and is Gen X, he can't afford to retire. Basically you're looking at having a SAH spouse, can you afford that?

Given the differences in your ages, you aren't really making the same amount of money because he is at the pinnacle of his career/earnings, while you still have career and income growth. Plus he's not saving much. So again basically he doesn't earn enough to retire.

I am all for combining finances in a marriage but in your case I don't think that's a great idea. It sounds like he's got no retirement but wants to retire anyway.  [/quote]

He knows he can't retire soon, and is pretty indispensable at his work, so he'll likely work until 70. Whereas I - unless something really bad happens - am on pace to retire at 67 and while not GREAT, am catching up pretty decently so that I should have a healthy enough retirement fund for myself in 30 years. Our financial strategy is stick to the budget and don't get laid off. [/quote]

I was indispensable and got let go at 59. Unless you own your company and even then some of your kids can stage a coup against you, you are not indispensable. You are making way too many optimistic assumptions in an uncertain and extremely competitive world. [/quote]

I agree with this but I don't think it negates the advise OP has gotten to max out her 401k and payoff her student loans as quickly as possible.  OP is also not indispensable.   He could get hit by a bus tomorrow.  Either of them could be laid off tomorrow.  She could find out her husband is having an affair tomorrow—so many possibilities.  All of them lead back to OP attending to her finances.  If her DH is let go early, they'll have better cash flow off her income if they aren't still paying down her student loans, so there's a non-selfish reason that OP can use to justify paying them off ASAP. [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics