I knew it was a trap, but I did it anyway.

Happiness is being single.

 

no.....her 401k is "only" hers.....i control it but i cannot withdraw funds.....she has to do that......i can only increase/decrease normal distributions.....if she dies. God forbid, her funds automatically become part of her will and is mine as beneficiary to control and withdraw......i believe if that happens, I have to withdraw everything and pay tax on it right then and there

 

Should the tragedy strike, and hope it does not, the spouse does not have to withdraw and pay taxes. The spouse can roll it over until normal retirement age, when taxes should be better.

The more you know. ⭐️

 

Odd, my wife wanted the Tacoma lifted as it was her daily at the time.

Good luck bud...

 

True. What I was trying to imply is that generally with 401(k)s (or any other tax qualified plan), spouses have rights whether it be by divorce or death or payout in retirement. A different beneficiary other than the spouse can only be named by written consent of the spouse. For example, if I was married and I wanted my kids to inherit my retirement plan, my wife would have to agree to that.

 

already in retirement.......and in Nov 19, will be at 70 ½ yrs old.....

Edit: it will be part of the required minimum distribution

 

Lol I never understood guys who let their wifes control their hard earned money and viceversa. "The wifey said I could buy xxx"

As long as you are covering your side of household expenses and your expenses are not putting your household at risk, then it should be none of her business. Of couse this goes both ways and requires good financial responsibility.

Ideally, having separate bank accounts with a joint account for all household expenses works perfectly. At the end of the month, the bill should be paid 50/50 or if salaries are disproportionate then each pays the % of salary they make relative to the other.

It's as easy as that.

 

Hard to do when your pile is 5x bigger than hers. One of the first things they find on their new phone is the CALCULATOR!

 

That's how we roll. Married 27 years.

 

You have separate accts?

 

Yes dear.

 

Are you stalking me again?

 

You wish.... I watch this thread too!

If I was, you wouldn’t know it, I’m stealthy like a Ninja!

 

Having a house money account to pay bills, etc and your own personal accounts for fun stuff is the way to go. I buy truck and motorcycle and gun crap with my money, she buys what she wants with hers.

When either of us gets a bonus, we divide it up. A portion goes to the kids' savings, a portion goes to the house savings, and a portion goes to each of us either directly or by buying the other something.

 

Ah yeah, what a fool I am. I never considered that there was one true way of living your life and all other ways were super silly. My bad!

 

I didn't mean it like that. I mean that it "works for us".

 

Congratulations?

Since when did I imply my post was directed towards you?

Your initial post indicates an equally shared account, and I was referring to those men/women who let their SO control everything and have to beg and ask for permission to use their own money lmao.

However if you failed to mention this applies to you and the shoe fits...

 

Mine wants her cake and mine too. We have separate accounts. I make almost 3x more than her, so I pay the house, vehicles, upkeep for it all, and all utilities. She buys groceries, and 1 meal out every 2 weeks.
She blows most of her money on stupid shit for her and the kids (both of which work, and one works full time and is almost 21, the other is a junior in HS). If I want to buy new gun stuff or anything else, she gets pissy but doesn’t say too much. I just ask her when she plans on paying the utilities