Stay at home mums

My husband is saving money to fulfill two 401k’s so that I’m covered for retirement too, even if we busted up. I also have stock and other assets that are mine alone that I can either sell if I needed to or just pass on to my children. He also gives me an allowance every month and the allowance increases with every bonus and raise he gets. It’s not a lot but I mostly just save it all. Then, every once in a while I’ll take on a short term contract for like 3-6 months or so, WFH and I save that too!

Not here i can apply for the age pension. i know it's not much, but I still at least $700-$800 a fortnight, i think, and i have a savings account and have some superannuation from jobs i have worked at in the past (it not much as fees have probably gobbled it up) but I'd definitely get by. Here, also, get a child benefit a living benefit and carer benefit. So we will do ok.

If you're married and a SAHM the husband would have to pay alimony and/or part of that retirement belongs to you I think if you ever divorce.

I’m in the UK so it might differ slight but I only need to work for a further 10 full years to qualify for my state pension. I plan on working when all my children are in school and my mum is fully retired and able to look after them more. I also ensured that I owned our family home with equal shares when we signed the deeds to ensure that if we did split I have half the house straight away to at least get me back on my feet if ever I needed it. I’ve never been named on the business we run together but have earned a wage from that up until starting our family. I also know that my partner would never see his children struggle and therefore trust he would always support me financially. But yes I agree it’s a scary thought and I know that despite all I’ve mentioned it still would land me in hot water financially!

As a SAHM, I’m not going to live my life in fear of worst case scenario. Should I plan my whole life around the possibility of divorce? Should I plan my whole life around the possibility of my spouse dying? Should I plan my whole life around the possibility of me dying? No, that’s absurd. Me staying home to raise my own children to be the best possible versions of themselves is so much more important than anything else or anything else that could possibly go wrong down the road.

@Stacey 🇵🇸 what are the stocks and assets? I want to get into investing too but it’s like a minefield!

So if you are married over 5yrs? And there's kids? Most of the time, you will win alimony. And if you get left after 15-20? Then it's even more assured! And when you have kids, that you are raising, it's even more assured. Unless he's a complete dead beat and then he'd go to jail. So as long as you married Decently well, and not a cold hearted child? I'm pretty sure I'll be fine. This is just from what I've heard on here mostly. But I'll cross whatever path I end up on, and fight for my kids first.

@Lizzie I was talking more of when the children are older and we’re at pension age. but it’s good that you’ll have the house to fall back on if needed

Middle aged women are one of the fastest growing demographics for homelessness.

No. He’s working for the family, not for himself. We’re joint on all assets and accounts including savings and retirements. That money would be split with me should we ever divorce. Should anything happen to him I’m beneficiary on everything. He’s building his pension and retirement for both of us. (And is already picking out our retirement cruises 😂) I do think it’s a problem when SAHM are not joint on accounts, and when families don’t plan together for their financial futures. Plan for the best and prepare for the worst.

I’ve been out of a job for almost 7 years. I go back to work in November of 2025. I feel I’ll be okay

I’m going to stay home for the first time when this baby is born and it’s actually my worst nightmare. My husband isn’t going to leave me, but if he gets Ill suddenly? Or loses his job? Or god forbid dies?? I’m not willing to risk staying home over 2 years and that’s to finish up a degree I can work from home with. There’s too many variables that are totally out of my control if I don’t have financial income of my own and with the way the economy is, a relatively minor set back like losing a job is just a few small steps to losing a house

There are joint life insurances and annuities for this. I'm currently looking into annuities even though we both have life insurance (my husband's pays out 400k)

By the time we retire there’ll probably be no government pension anyway and most people will be fucked.

No we invest in real estate and various other investments are in our diversified portfolio

I’m already doing it alone with 2 kids so not crossed my mind

I put money into a private pension

Nope. I’ll get lifetime alimony 💁🏼‍♀️

We have a couple properties that we rent and our portfolio is a mixed bag but if you’re just starting out, look into VOO. You’ll need to choose a brokerage, fund the account, search for VOO using the brokerage online search bar, and place your order 😊

@Stacey 🇵🇸 what’s voo?

@Helen yeah they are definitely going to get rid of it by then but there is still a pension right now. Today. it’s not been scrapped yet. When the time comes to scrap it they’re not gonna say oh sorry you can’t have your 100K that you’ve been saving for the past 30yrs. It just won’t be available anymore doesn’t mean they won’t let you access the pension you already have in place.

@Roksan I wish I everyone looked at it this way! this is exactly how I see things like if for some reason my husband couldn’t work anymore or stopped work for a while. it’s like a domino effect other things get effected too.

@SquishyMommy1 what’s that?

Alimony is what your spouse pays you after a divorce. Also known as maintenance.

VOO stands for the Vangaurd S&P 500 ETF.

My husband lost his job a year ago and it took nearly a year to get hired again - we barely made it out without filing for bankruptcy on my income alone and we were middle class. It’s going to take us another couple of years to recover from the debt accumulated. I can’t imagine what would have happened if I didn’t have my own income as well. Most people are not in a position to have investment properties and stock portfolios - that’s obviously the best way to do it, but it’s not attainable for most people in this economy

@SquishyMommy1 omg

@SquishyMommy1 I don’t think we have that in the UK

@Stacey 🇵🇸 oh okay not heard of it. Is it investment?

@Roksan it’s so important for both to be working especially in this economy

I don’t know how it works in the UK but if you just google it a bit, you’ll get plenty of information.

If you’re in the U.K. and unmarried but have children - you are playing a dangerous game relying on a man. People change and relationships end. I have 2 friends that have been caught out by this. Thought their partner was amazing and would never do them dirty, didn’t even think it possible. One told her relationship was over and kicked her and newborn baby along with toddler on the streets. She spent 3 years in a homeless shelter and eventually had to start working in a factory as she had no qualifications otherwise her benefits would have stopped. NEVER rely on a man. Always make sure you have your own money, job, savings and security. If you rent make sure you’re on the tenancy. If you own, make sure your name is on the mortgage. Ringfence your deposit and make sure it is all legal and above board. Women in late 30s to early 40s are currently the highest growing figure for being made homeless. Let that be a warning!!