My partner is in his mid 40's, he does not own a home and still rents, and he has about 30 000 saved in total. He makes a descent income (between 100-200 000/year), but invests money into his own projects therefore, no savings.
I'm 10 years younger then he is and have 3Xs as much saved and own property... what kind of future are we looking at? He should be retiring in the next 15 years but hasn't even thought about saving for retirement. And I'm looking at home prices now, and I'm bitter that he never thought to purchase something 5 years ago when property was 1/2 the price.
What should I do about the situation and my feelings of financial insecurity?
2007-03-06 07:47:29 · 11 answers · asked by nutty 3 in Business & Finance ➔ Personal Finance
Just an added note that he's very responsible and independent - he has zero debt and a perfect credit rating... Just no savings.
Also, as I stated earlier, I already own property.
2007-03-06 08:11:42 · update #1
You - Awesome financial situation.
Him - Sucks compare to you.
I don't know what projects he is investing that much money into, HOPEFULLY it is something that will payoff in the long run financially. 100-200K a year is a lot of money to invest in any project even it is after tax money.
My question is:
Is this project business related where it might potentially generate great deal of income in the future? Or is this something that he is just wasting time and money on without reward?
If you don't feel comfortable with his financial situation, you should just talk to him before you two commit to any type of relationship. Good luck ;)
2007-03-06 10:00:47 · answer #1 · answered by C L 5 · 0⤊ 0⤋
Perhaps he will let you handle the finances. It might not be something he likes or is good at where you seem to have a knack for it. If you own a home then hold on to it even if you do marry for it can be your home of last resort.
You and your partner need to sit down and talk about this and other financial decisions before moving in together and like I said dont sell your house for a long time since it gives you the security of knowing you have a roof over your head no matter what.
2007-03-06 07:56:12 · answer #2 · answered by elaeblue 7 · 0⤊ 0⤋
Whats funny about the situation is that some women would see him as a money bags-- no debt, 30K in savings, etc, because of how he compares to the nation. Many have thousands of debt and very small incomes.
However, it seems that financial security is quite important to you, and you'll be sacrificing that security to marry him-- you'll be carrying his needs.
Have a frank talk. Ask him how he plans to retire. You're already bitter about it and you need to either clear the air and work together, or move on.
2007-03-06 08:22:07 · answer #3 · answered by Anonymous · 1⤊ 0⤋
Sounds like you are looking for a reason to leave. If so, just do it. You are 30-something, there is a lifetime ahead. Why carry the baggage?
If not:
Are you really sure he hasn't saved? What are the projects(?) he has invested in? What is their current value? Ask him, your insecurity may be unwarranted.
Sounds like you have taken care of yourself. Just don't marry him if you are afraid that he wants to partake of your savings. Find out what you like about the man and enjoy that. Leave the rest alone.
Travel light, sister.
2007-03-06 08:12:17 · answer #4 · answered by Anonymous · 0⤊ 0⤋
I wouldn't make this a marriage. I'd keep all accounts separate. I wouldn't loan him any money. In other words, you might be better looking at a future without this guy. You'll NEVER feel secure with him.
I'm not sure why you're bitter about him failing to buy a house 5 years ago? What's that got to do with anything? It's right in line with his personality. How about you? What stopped you from buying a house? Why don't you buy one now (without him)?
2007-03-06 08:01:55 · answer #5 · answered by katbyrd41 7 · 0⤊ 0⤋
First off hes a big boy and if he doesnt buy when he should thats his fault not yours. I would tell him though that if the company gets in any trouble that you will not bail it out with your savings. Let him know you are planning on making some life purchases that will be affecting YOUR finances. and if you ever wish to invest send me an email I would with asset protection.
2007-03-06 07:55:36 · answer #6 · answered by Anonymous · 0⤊ 0⤋
we've 2 checking debts and one reductions account. between the checking debts is in my call and the different is in the two names. The checking with the two one in all our names is the single we use. My husband is the only one which works and that i stay abode with our daughter. we've been jointly for over 5 years, yet purely have been given married 8 months in the past. we are the two relatively solid with money and continuously confer with a minimum of one yet another approximately enormous purchases so the way we do our funds artwork for us.
2016-12-18 16:42:18 · answer #7 · answered by foote 3 · 0⤊ 0⤋
it sounds like youre the sort of chick who is better off with someone who has more to offer then what this 40 year old dude has... youll always end up feeling "better" then him and soon youll resent him... so seek a future with a dude who has more money...
2007-03-06 07:53:52 · answer #8 · answered by smilingontime 6 · 1⤊ 0⤋
$30k saved on more than 100k+/year income at 40+ is very pathetic.
He needs to save CONSIDERABLY more to have a comfortable retirement.
You need to consider running away.
2007-03-06 12:54:36 · answer #9 · answered by Quixotic 3 · 0⤊ 0⤋
Does not sound good. You resent him already. Read Suze Orman's book & visit her web site.
You might want to consider moving on.
2007-03-06 07:52:11 · answer #10 · answered by ♣Hey jude♣ 5 · 1⤊ 0⤋