Reply to Tell me how much you have saved in your 401K at age 40.

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Interesting how in most cases here - the DHs have a lot more than the DWs. Are the DHs earning that much more? Or are the DHs maxing out while the DWs are responsible for additional bills like childcare?[/quote]

I noticed that, too. The question was individually and many answered for their DH's. I'm not even seeing mention of IRAs for those who SAH.[/quote]

And when the divorce comes, mothers are much more likely to prioritize staying in the marital home or obtaining promises of college funding from their exes, and give up valuable pension and/or retirement funds in exchange.  This is why many more women are living on razor thin margins in retirement than men.[/quote]

I can only speak from experience living in Virginia. My parents divorced when we were in high school. My mom got half of everything, she even gets some of his SS when he dies even though he is remarried. He also had to pay for our college (part of the settlement).

She walked away with almost 7 figures in retirement, half the proceeds of the sale of the house, half of ALL taxable investments, the dog and the kids.  19years later she has a modest admin job, no mortgage to speak of, that retirement has sat there for 18years and has had compounded and is now over 7 figures. She also hasn't touched the taxable investments which has also doubled.
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In Virginia, everything gets split in half. No questions asked. No fight, unless you have a prenump. [/b]Yes, my dad is better off because he has a career, but she didnt gwt screwed.[/quote]b

1. I have no idea why your mom would share such specific info with you about her divorce settlement.

2. Your statement is wrong.  VA isn't a community property state.  It is an equitable distribution state.[/quote]

I help her balance all of her investments. Made her 16% in 2016 accross everything, retirement went up 200k. Went very bullish and it paid off. More conservative this year. I know exactly what she started with, exactly where is all is and exactly how fast its growing, so of course i know all of the specifics of what she walked away with.

It is great knoeing my mom will never have to worry about money. She is now 62, and still working, she makes only 45k/yr as basically a receptionist, but loves it.[/quote]

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