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][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 And it’s not like their spouse paid in 1.5 x their contribution to offset what will be withdrawn.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]

At a very general level, we all benefit as a society from the unpaid labor of SAHMs, who frequently (but obviously not always) take on additional work helping out in our schools, local communities, etc.  Perhaps spousal SS payments are not the best and most efficient way to provide some minimal support to those individuals, but it's certainly the one that's best baked into our current system.  [/quote]

Oh please. I work and pay taxes, which includes SS that some housewife will get when she retires (snort). I also pay for childcare and contribute to someone else’s income and their taxes. Once the kids are in school, there isn’t much to contribute outside of filling Pilates classes and tennis lessons. 
If you are wealthy enough to be a housewife, you are wealthy enough to forgo collecting SS you haven’t paid into. [/quote]

I'm a SAH spouse and I paid into social security and I have earned my own benefit.  I have also been married for 10+ years and qualify for a spousal benefit (1/2 of my spouse's benefit).  I will either collect my own benefit or my spousal benefit, whichever is highest.  If you've been married for 10+ years, you'll get the same deal. It's not like I'm getting something special that you aren't.[/quote]

Right. We are discussing getting rid of the spousal benefit for everyone[/quote]

Because we are sociopaths who hate women and childrem.[/quote]

lol[/quote]

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