A Reddit user is considering hiding her bonus from her husband to avoid him spending it. She shares that her husband’s spending habits have increased exponentially. And his habits are causing him to spend every bit of their disposable income and take money from their savings account, where her bonus typically goes.
More Money, More Problems
The original poster (OP) and her spouse work demanding jobs, and their incomes have grown dramatically over the past few years. Unfortunately, their overall spending habits also increased in volume.
For instance, OP received a $200,000 bonus a few years ago and had multiple talks with her husband about allocating the money and setting aside a portion for taxes. But, by the end of the year, there was only $50,000 remaining from OP’s bonus.
OP and her husband met with a financial advisor who recommended OP play catch up with her retirement savings and start investing their combined income. OP’s husband has a great pension through his government employer, while OP has a relatively small IRA because she has not contributed to it for at least ten years.
OP’s husband was okay with the financial advisor’s recommendations. But, sadly, he ultimately began removing himself from the process.
To avoid her family’s financial future suffering, OP is considering contributing a large portion of her upcoming bonus into a retirement account without telling her husband.
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The Masses Weigh In
Several Reddit users are saying that OP’s spouse doesn’t have any regard for OP, their family, or their future. And that the husband is taking away OP’s safety net and retirement.
Other Reddit users recommend that OP and her spouse separate their finances by having a joint account for bills and a separate one for their spending. This method will make the husband realize how tight his budget is over time.
When it comes to the amount OP should divert to her retirement, the users are suggesting OP put 100% into retirement. This way prevents the husband from getting access and avoids another spending problem.
Is OP wrong for not telling her husband about her plans? How much of OP’s bonus should go toward retirement, savings, and investing? Could their financial conflicts lead their relationship to trouble?