Anonymous wrote:

Anonymous wrote:I swear you people are among the most gullible or the Internet. The OP is trolling. She made this up. Don’t people have better things to do with a Friday night?

Omg. You are so right. I fell for it!!

Anonymous wrote:You seem judgmental. You have no concept of how someone else might live given your income. It may not pay for her to work and earn minimum wage. After taxes, its not going to make a huge dent in college savings and may hurt with financial aid.

Anonymous wrote:I'm that SAHM of high school students, and I keep busy. I am in my mid 50s. My industry collapsed with the Great Recession when our kids were small and we suddenly didn't have $2500/month for childcare. We have relocated more than once for my husband's job. It was cheaper to be at home. The kids needed me there.

Our oldest is a freshman at a terrific university, and has a small student loan for this year. Parenting a well-adjusted child who launches successfully doesn't just happen; it is hard work. The transition to college has been seamless so far, she has embraced the opportunity and is happy and doing the work. Go, girl, go!

I was outside yesterday with a saw, trimming big trees. That one task would cost us $3,000 to hire that out (yes, I priced it). I cook dinners from scratch six days a week. I don't look at myself as selfish, or irresponsible at all. I am always moving, always doing, volunteering and living life. My husband of nearly 30 years tells me every day how he couldn't do this without me, and thanks me (no really).

I will have a pretty nice 401(k) in my own name in addition to other retirement funds since I manage my own stock trades on the regular, too. I log in, and get it done.

A lot of us are, OP.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What’s interesting to me is that a lot of SAHMs don’t seem to realize they aren’t contributing to retirement. They will often say their husband is saving in other accounts, but they don’t recognize how the benefit of a 401k is bankruptcy, tax deferred etc. They also don’t seem to understand that their husband’s 401k is only in his name. My own mother stayed home and I have power of attorney for my dad. She can’t even call up the brokerage firm to make a transaction since her name isn’t on the account. SAHms are truly screwed on the retirement front.

This isn’t the SAHM fault. Why isn’t it a law that married people can share their names on a 401k? All other assets from the marriage are usually considered joint property.

I don't see what the big deal is with the 401K being in the husband's name. in the case of divorce the 401K is a marital asset and split.

It’s not a huge deal. It’s more the principle of the matter. Would you want your primary residence only in the name of your spouse? Sure, your husband can give you the log in and you can perform trades, transfer money etc. But it’s not your money. To make it your money, you’d need to get divorced and have the assets transferred into your name.

I agree its inconvenient, annoying, and 1950s-esque. I was responding to the idea that SAHPs don't have retirement when it's all in their partner's name.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What’s interesting to me is that a lot of SAHMs don’t seem to realize they aren’t contributing to retirement. They will often say their husband is saving in other accounts, but they don’t recognize how the benefit of a 401k is bankruptcy, tax deferred etc. They also don’t seem to understand that their husband’s 401k is only in his name. My own mother stayed home and I have power of attorney for my dad. She can’t even call up the brokerage firm to make a transaction since her name isn’t on the account. SAHms are truly screwed on the retirement front.

This isn’t the SAHM fault. Why isn’t it a law that married people can share their names on a 401k? All other assets from the marriage are usually considered joint property.

I don't see what the big deal is with the 401K being in the husband's name. in the case of divorce the 401K is a marital asset and split.

It’s not a huge deal. It’s more the principle of the matter. Would you want your primary residence only in the name of your spouse? Sure, your husband can give you the log in and you can perform trades, transfer money etc. But it’s not your money. To make it your money, you’d need to get divorced and have the assets transferred into your name.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What’s interesting to me is that a lot of SAHMs don’t seem to realize they aren’t contributing to retirement. They will often say their husband is saving in other accounts, but they don’t recognize how the benefit of a 401k is bankruptcy, tax deferred etc. They also don’t seem to understand that their husband’s 401k is only in his name. My own mother stayed home and I have power of attorney for my dad. She can’t even call up the brokerage firm to make a transaction since her name isn’t on the account. SAHms are truly screwed on the retirement front.

This isn’t the SAHM fault. Why isn’t it a law that married people can share their names on a 401k? All other assets from the marriage are usually considered joint property.

I don't see what the big deal is with the 401K being in the husband's name. in the case of divorce the 401K is a marital asset and split.

Anonymous wrote:

Anonymous wrote:What’s interesting to me is that a lot of SAHMs don’t seem to realize they aren’t contributing to retirement. They will often say their husband is saving in other accounts, but they don’t recognize how the benefit of a 401k is bankruptcy, tax deferred etc. They also don’t seem to understand that their husband’s 401k is only in his name. My own mother stayed home and I have power of attorney for my dad. She can’t even call up the brokerage firm to make a transaction since her name isn’t on the account. SAHms are truly screwed on the retirement front.

This isn’t the SAHM fault. Why isn’t it a law that married people can share their names on a 401k? All other assets from the marriage are usually considered joint property.

Anonymous wrote:As a working mom, what pisses me off is that all the sahms want to come back to work at 40 making the same income as everyone else who has 15 years of experience. No way. You have to start from the bottom and work your way up like the rest of us did.

Anonymous wrote:What’s interesting to me is that a lot of SAHMs don’t seem to realize they aren’t contributing to retirement. They will often say their husband is saving in other accounts, but they don’t recognize how the benefit of a 401k is bankruptcy, tax deferred etc. They also don’t seem to understand that their husband’s 401k is only in his name. My own mother stayed home and I have power of attorney for my dad. She can’t even call up the brokerage firm to make a transaction since her name isn’t on the account. SAHms are truly screwed on the retirement front.

Anonymous wrote:As a working mom, what pisses me off is that all the sahms want to come back to work at 40 making the same income as everyone else who has 15 years of experience. No way. You have to start from the bottom and work your way up like the rest of us did.

Anonymous wrote:

Anonymous wrote:Haters gonna hate. I’m a SAHM of teenagers and have been for years. It works well for my family and our lifestyle.

I don’t give a flip about what strangers on the internet think I should be doing.

I have a small pension from the years that I worked, as well as a 457 plan, Vanguard IRA, and stocks. My kids each have a prepaid college tuition plan.

You do you.

People and their reading comprehension. OP is discussing a SAHM who doesn't have either of these things and worries about it. You have taken care of these things so this doesn't apply to you.

Anonymous wrote:The problem here is the ludicrous cost of college.

It’s not lazy and selfish to fail to prepare for this. We shouldn’t turn an economic problem into a moral issue.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What’s interesting to me is that a lot of SAHMs don’t seem to realize they aren’t contributing to retirement. They will often say their husband is saving in other accounts, but they don’t recognize how the benefit of a 401k is bankruptcy, tax deferred etc. They also don’t seem to understand that their husband’s 401k is only in his name. My own mother stayed home and I have power of attorney for my dad. She can’t even call up the brokerage firm to make a transaction since her name isn’t on the account. SAHms are truly screwed on the retirement front.

SAHM can contribute to IRAs and should. I stopped working 16 years ago but still have more money in my 401ks and IRAs than my husband because I contributed more in my 20s and 30s.

Stop spreading lies. It’s to a Roth which is limited to a small dollar amount each year. Compared to a lot more if you’re employed with a 401k and match.

If she's telling the truth, her H is a loser with a low salary.