I think pre and post nups are smart. To the lady upthread who said her vows were her prenup--lol! Actually, your prenup is the divorce laws in your state at the time you divorce, and guess what ladies, with the conservative crazies taking over, I would expect equitable distribution as a concept to get a lot fucking shittier for the stay at home mom crowd. You guys should be thrilled to give up everything to raise his babies and cook his meals and then walk away with jack shithole if he dies, according to these red pill freaks and they are taking over. Beware.

I think it's crazy for anyone to dismiss any person's desires for independence and it means nothing about not loving your spouse or doubting your marriage. Individuals are allowed to own property individually, and everyone should, for fuck's sake.

And I am floored that anyone thinks it's automatic that all retirement counts are split 50/50. Do you have any idea how many mothers I have known you had to give up that 50/50 split in order to obtain something else in the divorce? Something really important? Like a college fund for their kid, or COBRA payments for a year, or something? Why intentionally be the weaker party? I've seen judges with my own two fucking eyes and ears tell a stay at home mom of 16 years that she will get alimony for 3 years and then is on her own.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What would be the goal of the retirement savings on your own? Is your DH's 5M not enough?

Isn't OP already retired?

OP here. When I mention going back to work, DH always tells me that I should consider myself retired.

Wow OP. How does this make you feel?

FWIW, I've been a SAHM for the past 16 years and have no plans to re-enter the workforce for another ten years or so. My husband would support me going back to work and wouldn't dismiss my goals or desires.

Umm, you will not be able to,go,back to,work after a 26 gap, what are you smokng?

You have no idea what I did or can do.

And you can always go back to work. It might not be in corporate or some high powered career I can brag about at dinner parties, but I can do something useful and productive that I will feel proud of.

PP - look at the jobs section of this site sometime, there are people that got laid off and it takes over a year to find something. You are really clueless about what the working world is now a days, and what employers look for.

Anonymous wrote:Everything should be joint.

Almost everything is joint here, but I think both parties should have at least a credit card issued to their own name. Something to build up a credit score in case something were to happen to the WOHP.

I have 230K in my name as well as jewelary worth 100k in my name. Everything else is joint. I also have property worth $200K that I have inherited.

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Anonymous wrote:OP: I assume your 401k is rolled over to an IRA at place like Fidelity or Vanguard.

Wherever, go to their website.
Transfer $10,000 to your IRA account (from one of your joint accounts) and click "make a ROTH contribution for 2016".
Open a ROTH account and transfer $5000 to it (today or any day before April 18, 2017) for 2016.
Then repeat the process for 2017 (today or any day before April 16, 2018).

Then every January contribute the max allowable.

Every non income-earning spouse should be doing this every year!

This just makes good financial sense (no judgment about marriage necessary).

Not everyone has that kind of money.

Obviously, if you don't have $5,500 then this plan won't work for you.

OP here. I just moved over $11,000 to my IRA - $5500 for 2016 and $5500 for 2017. It's a start.

How is this possible? Would you not file a joint tax return? The Phase-out starts at $184,000; ineligible at $194,000 to contribute into a Roth.
Makes me wonder why they wouldn't file jointly with a SAHM.

That is for ROTH IRAs, regular IRAs do not have that limit.

ROTHs have no limit either. Google "backdoor roth" - an intentionally left congressional loophole.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP: I assume your 401k is rolled over to an IRA at place like Fidelity or Vanguard.

Wherever, go to their website.
Transfer $10,000 to your IRA account (from one of your joint accounts) and click "make a ROTH contribution for 2016".
Open a ROTH account and transfer $5000 to it (today or any day before April 18, 2017) for 2016.
Then repeat the process for 2017 (today or any day before April 16, 2018).

Then every January contribute the max allowable.

Every non income-earning spouse should be doing this every year!

This just makes good financial sense (no judgment about marriage necessary).

Not everyone has that kind of money.

Obviously, if you don't have $5,500 then this plan won't work for you.

OP here. I just moved over $11,000 to my IRA - $5500 for 2016 and $5500 for 2017. It's a start.

How is this possible? Would you not file a joint tax return? The Phase-out starts at $184,000; ineligible at $194,000 to contribute into a Roth.
Makes me wonder why they wouldn't file jointly with a SAHM.

That is for ROTH IRAs, regular IRAs do not have that limit.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What would be the goal of the retirement savings on your own? Is your DH's 5M not enough?

Isn't OP already retired?

OP here. When I mention going back to work, DH always tells me that I should consider myself retired.

Wow OP. How does this make you feel?

FWIW, I've been a SAHM for the past 16 years and have no plans to re-enter the workforce for another ten years or so. My husband would support me going back to work and wouldn't dismiss my goals or desires.

Sounds very inconsistent. Your husband wouldn't dismiss your goals or desires and would support you, but yet he was caught cheating on you. Open your eyes. You are replaceable.

lol What? He was caught cheating on me when? What thread did you mean to post to?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What would be the goal of the retirement savings on your own? Is your DH's 5M not enough?

Isn't OP already retired?

OP here. When I mention going back to work, DH always tells me that I should consider myself retired.

Wow OP. How does this make you feel?

FWIW, I've been a SAHM for the past 16 years and have no plans to re-enter the workforce for another ten years or so. My husband would support me going back to work and wouldn't dismiss my goals or desires.

Umm, you will not be able to,go,back to,work after a 26 gap, what are you smokng?

You have no idea what I did or can do.

And you can always go back to work. It might not be in corporate or some high powered career I can brag about at dinner parties, but I can do something useful and productive that I will feel proud of.

I'd guess that my wife has $6000 or so in a checking account sue uses for her freelance business; I don't have any individual accounts.
We each have rollover IRAs or Ruth IRAs in our own names, with the other as a beneficiary. Her total in those accounts is roughly 4x mine.
All of our taxable accounts, and all other checking and savings accounts, are joint. Out house is jointly owned.
My 401k is obviously in my name. She's the beneficiary, and we've been together so long that there was next to no value in it before we got married, so it's essentially 50% hers.

Every penny is joint except retirement accounts, which we max out. He does the full spousal ROTH IRA for me every year plus I have about $100k in a 401k from when I worked.

I don't care that none is in my name alone. As far as I'm concerned, it's all my money, just as its all his.

Anonymous wrote:How can she contribute to a Roth if her husband is s very high earner and they file jointly? Makes me doubt her numbers altogether.

Anyone at any income level (even 0 like me or $2M like DH) can contribute $5500 after tax dollars to an IRA and then immediately transfer the $ to a Roth. The interest on the $ grows tax-free. If you're above the income threshold, google "back door Roth".

Anonymous wrote:

Anonymous wrote:How can she contribute to a Roth if her husband is s very high earner and they file jointly? Makes me doubt her numbers altogether.

OP here. It was actually a traditional IRA. I totally forgot I had these accounts at fidelity. I have another 50k in my traditional IRA.

I am not really sure what a Roth IRA is and I don't have one of those. I just have a bank account that I opened when I was in high school, 401k, traditional IRA and some stock shares from my old company.

Ok, a Roth is helpful as an emergency cash stash as you can withdraw your contributions penalty free before hitting 59 1/2.
A traditional IRA doesn't let you do that but you can contribute with pretax money. I am a SAHM and have a Roth IRA. My DH however is not as high of an earner as most here.

Anonymous wrote:How can she contribute to a Roth if her husband is s very high earner and they file jointly? Makes me doubt her numbers altogether.

OP here. It was actually a traditional IRA. I totally forgot I had these accounts at fidelity. I have another 50k in my traditional IRA.

I am not really sure what a Roth IRA is and I don't have one of those. I just have a bank account that I opened when I was in high school, 401k, traditional IRA and some stock shares from my old company.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP: I assume your 401k is rolled over to an IRA at place like Fidelity or Vanguard.

Wherever, go to their website.
Transfer $10,000 to your IRA account (from one of your joint accounts) and click "make a ROTH contribution for 2016".
Open a ROTH account and transfer $5000 to it (today or any day before April 18, 2017) for 2016.
Then repeat the process for 2017 (today or any day before April 16, 2018).

Then every January contribute the max allowable.

Every non income-earning spouse should be doing this every year!

This just makes good financial sense (no judgment about marriage necessary).

Not everyone has that kind of money.

Obviously, if you don't have $5,500 then this plan won't work for you.

OP here. I just moved over $11,000 to my IRA - $5500 for 2016 and $5500 for 2017. It's a start.

How is this possible? Would you not file a joint tax return? The Phase-out starts at $184,000; ineligible at $194,000 to contribute into a Roth.
Makes me wonder why they wouldn't file jointly with a SAHM.

Backdoor Roth IRA if income is over $184 K ?