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Reply to "Retirement finances in an age-gap relationship or marriage"
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[quote=Anonymous]How old is he, how much does he make, and what's his net worth? I'm the younger one in a 12-year age gap marriage. I'm also very familiar with the financial setbacks that comes with kids from a previous marriage. I was told that college was being completely taken care of by the ex, and now I'm told that her money ran out and so now my husband has shelled out $50k for the tuition balance and also pays $600 per month for an off-campus apartment. That's all money that could have gone to a house down payment. Super aggravating due to their poor planning. I'm interested in retiring early, but I've never thought of it as me funding my husband's retirement. If anything, we'd be looking to retire at around the same time, and he would be funding MY retirement, because he can access his pre-tax money earlier at 59 1/2. We'd use my money in a later phase. We've always kept our money separate. I don't pay any expenses for his previous kid. I've never felt guilty for a second for being able to save thousands per month, while he couldn't. Keep splitting shared expenses only based on how much each person makes. Also, is he amenable to improving his finances? I am financially savvy and my husband is a "normie". Just saved in the 401k with sporadic savings when there was money leftover. Money for his kid was saved in a savings account, ugh. For me, it was a prerequisite he was open to changing his ways before marriage. Basically, he lets me take control of all of his accounts and I do everything finance related. His money is working a lot harder now that I've set up Roth IRAs, brokerage accounts, etc.[/quote]
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