Reply to SAHM: what do you do to protect yourself financially?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]My wife has not worked in 20 years. She came into marriage 20k cash and a Toyota with a loan.

My net worth was 100k

Today our net worth 5 million of which she gets 2.5 million in divorce. She also collects my full SS as married over 10 year

[/quote]. +1. This is DH and I, the numbers are slightly different, but in the same ballparks.  Plus, I have a small pension from before- which would e split or accounted. [/quote]

We need to stop paying SS to those that did not contribute to the fund.[/quote]

+1000. [/quote]

A spousal SS is only half of the primary. You have to choose between your own, or half of your spouses.[/quote]
If you worked. If you never worked, or didn’t work enough to qualify for SS, you still are eligible for up to half of your spouses (or ex-spouses benefit). That is what PPs are referring to when they say we need to get rid of the benefit. We are paying SS to people who never worked. And it’s not like their spouse paid in 1.5 x their contribution to offset what will be withdrawn. [/quote]

How old are you?  You sound like my DD.

Ironically, it is definitely not outside the realm of possibility that her chronic illness at some point will leave her unable to work and being able to get half her DH's social security should he die would be a real help.

Stuff happens.  Would you prefer disabled spouses become a public charge?[/quote]
Do some research before responding to what you don’t understand. Your daughter would collect 50% of the spouses SS while the spouse is alive, not when they are dead. So spouse collects 100% of their SS and the non-working spouse can collect 50% of the spouse’s SS at the same time. [/quote]

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