No. of Recommendations: 2
I often say that I married my husband for entertainment value and that I'm never bored.

We chiefly live off of his income. My current income (half his) is gravy. Every month I write him a check for $400 as my contribution to the mortgage. He doesn't need it to make the mortgage -- it's nothing more than extra towards the principle. (15 year, %5.375)

I've been talking to DH about how now that he's 40 he needs to set up a SEP and start socking away money into it. He has an IRA, but is unhappy with it "our money isn't doing anything there." I've tryed explaining several times -- even with charts and graphs -- that the reason money isn't doing anything at [full service broker]* isn't because fsb is an out and out crook, it's because the market has been crappy for the past 2.5 years. He keeps saying that he's going to call Vanguard and set up an account with them, but so far has made no move.

Since I'm 12 years younger than DH, I proposed that if 3years roll around and he still doesn't have a SEP going, I'll max out the 457 and open a 403, with the goal of socking away 22k** the first year and increase that by 1k each year until my salary tops out. This means my salary will be reduced to 7k a year and my monthly take home will be about 450 dollars after everything is taken out. If I do this, I'd like to have a monthly allowance of $500 from him -- just like back in the days when my monthly salary was $500. But, we'll be millionaires when I retire at 65, and in the mean time our annual income tax will drop, meaning more money in his pocket for the next 30 or so years.

At the end of my spiel, DH turns to me and says, "So, if you do this, you won't be paying me the $400 any more?"

Like I said, I married him for entertainment.

---

* [Full Service Broker] was reccomended to us by our accountant, who also uses his services. Before you think we were total fools, at the time, neither DH or I knew much about retirement planning, and neither were that interested in the market. An FSB who could hold our hands actually made sense for us. We keep/kept our expenses to him low by visiting him once a year and by making our contributions in 1 big lump. Since I now know more about the market, I've opened a Roth IRA with a discount brokerage. DH still spends little, if any, time studying the market.

** Since the maximum allowance in 2005 is a total of 28k, why am I only starting with 22k? I can't do 100% -- I've got to have at least 2k/year for the cost of DH's health insurance, and frankly, I just don't like the idea of a $0 paycheck. I work 40 hrs; I wanna see something in my checking account for it. The position/pay-grade I hope to be in w/in 2 years currently tops out at 34k (probably 36k after the 2 COLAs kick in.)



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