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I may lose my ER status
Old 04-08-2011, 10:08 AM   #1
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I may lose my ER status

I may have to change it to "kept man". My wife has taught a night class at the local college for the last few years, but it only was from 6-9 one night a week, still had summers off and lots of breaks. She makes 15k a year, that i of coarse put the max into IRA's, the rest I figure was wear and tear on the car. Well the Dean cornered her the other night and talked her into teaching another class, actually she wanted her to go full time or teach more, but she only agreed to the one. Still summers off.

So now I have to live with the fact that my wife will have earned income above what I can just ignore by putting it into a IRA. Am I just another one who claim's to be ER, but still has a working spouse. She will have to put in 9 hours some weeks. I'm not sure how to feel about this.

I think I need to replace my 1/2 ton truck with a 3/4 ton diesel. I think that may make me feel better, I kind of like the dodges.
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Old 04-08-2011, 10:11 AM   #2
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But, but, but, will she have enough time off to go with you in your new truck, pulling that TT?
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Old 04-08-2011, 10:16 AM   #3
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I thought I was ER last June when my $@#!&* employer thought I made too much $$$ and let me go. And, with a full-time working DW also considered myself a kept man. I'm still not sure whether to use the word "Fortunately" or "Unfortunately," but in any event got hired by another company last November. I still have fond thoughts about my "first retirement" and do not expect my current employed status to last more than 18 months.
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Old 04-08-2011, 10:29 AM   #4
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Don't forget that if your DW has income, you can continue to stash money into a spousal Roth in your name, or even make a deductible IRA contribution if you prefer.
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Old 04-08-2011, 10:30 AM   #5
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But, but, but, will she have enough time off to go with you in your new truck, pulling that TT?
She gets December and january off, we already have reservations for most of January. And she is off close to 4 months in the summer. The dean also said that she could do some of the classes online or change things around if she needs to. Our son is getting married in November in St Thomas, and we planed to take a couple of weeks off for that. The dean said no problem.
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Old 04-08-2011, 10:37 AM   #6
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Don't forget that if your DW has income, you can continue to stash money into a spousal Roth in your name, or even make a deductible IRA contribution if you prefer.
Yep, been doing it for years. She makes just a little more than the max we can fund. Since the check was just going into the IRAs I felt that I was still a honest ER. Now we are going to have earned income, oh the shame.
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Old 04-08-2011, 11:02 AM   #7
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You'll get over being a 'kept man' pretty quickly. I know I have.

Being broke and living off your wife's income is completely different from being FI and having a wife who works because she enjoys it.
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Old 04-08-2011, 01:45 PM   #8
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You'll get over being a 'kept man' pretty quickly. I know I have............
When I start feeling guilty I buy new thong underwear and a bowtie.
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Old 04-08-2011, 03:25 PM   #9
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I was a house boy for most of 20 years while Ms G. was climbing the corporate ladder. I was always showed off as a trophy husband. Believe what you want.

Nothing to be ashamed of, actually it felt good.
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Old 04-08-2011, 03:50 PM   #10
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My DH dreams of joining your ranks, y'all boytoys.
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Old 04-08-2011, 11:43 PM   #11
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I'm totally cool with being a kept man. DW and I have kicked around with youngin' #2 on the way. Stay at home dad? I could totally pull that off...

dm, I was right there with ya until you got to the dodge part, and then you lost me. Dodge means "to avoid" - its says so right in the dictionary.

Two words - Duramax diesel.
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Old 04-09-2011, 08:58 AM   #12
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Well bow-tie, Ive had two Corvettes that were fine, but Ive had three chevy trucks and they have had more than their share of problems. I have an Avalanche now that is on its second trans and motor. I had a blazer that lost the trans around 100k, and I had a silverado pickup back in the day that had to have the heads replaced around 70k. Ive had ford trucks and they have always held up well. I just havn't heard good things about their diesels, I wish the ford had the cummins, then it would be a easy choice.

I guess I'll just have to get use to having a little extra money coming in. I'll go with being a trophy husband.
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Old 04-11-2011, 12:21 PM   #13
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Good Advice

Quote:
Originally Posted by travelover View Post
Don't forget that if your DW has income, you can continue to stash money into a spousal Roth in your name, or even make a deductible IRA contribution if you prefer.
I Max out on a spousal IRA for my SO who does not have a retirement plan and a Roth IRA for myself, I have a 403B plan. I am funding Wellisley Income Fund - lots of tax defered and free Income! I started doing this 5 years ago and wish I started many years ago. Putting all your income generating funds in a IRA or 401/3 plan just makes good financial sence.
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Old 04-12-2011, 06:05 PM   #14
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Originally Posted by dm View Post
I may have to change it to "kept man". My wife has taught a night class at the local college for the last few years, but it only was from 6-9 one night a week, still had summers off and lots of breaks. She makes 15k a year, that i of coarse put the max into IRA's, the rest I figure was wear and tear on the car. Well the Dean cornered her the other night and talked her into teaching another class, actually she wanted her to go full time or teach more, but she only agreed to the one. Still summers off.

So now I have to live with the fact that my wife will have earned income above what I can just ignore by putting it into a IRA. Am I just another one who claim's to be ER, but still has a working spouse. She will have to put in 9 hours some weeks. I'm not sure how to feel about this.

I think I need to replace my 1/2 ton truck with a 3/4 ton diesel. I think that may make me feel better, I kind of like the dodges.
Don't forget what "kept men" are kept for. Make sure you keep up that end of the bargain.
Just enjoy the fact that you don't have to work and enjoy the summers. I don't see the problem. Just keep your 1/2 ton, diesel is expensive nowdays. I've got a 1994 Dodge Ram that I bought new and I still like it. I think the best way to save money is to keep your vehicles for a long time.
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Old 04-15-2011, 03:00 PM   #15
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Well bow-tie, Ive had two Corvettes that were fine, but Ive had three chevy trucks and they have had more than their share of problems. I have an Avalanche now that is on its second trans and motor. I had a blazer that lost the trans around 100k, and I had a silverado pickup back in the day that had to have the heads replaced around 70k. Ive had ford trucks and they have always held up well. I just havn't heard good things about their diesels, I wish the ford had the cummins, then it would be a easy choice.

I guess I'll just have to get use to having a little extra money coming in. I'll go with being a trophy husband.
The Dodge/Cummins is a good choice. While I've had my share of problems with GM in the last 10 years the Isuzu Diesel (Duramax) is no slouch either.
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Old 04-15-2011, 03:15 PM   #16
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I'm totally cool with being a kept man. DW and I have kicked around with youngin' #2 on the way. Stay at home dad? I could totally pull that off...

dm, I was right there with ya until you got to the dodge part, and then you lost me. Dodge means "to avoid" - its says so right in the dictionary.

Two words - Duramax diesel.
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Old 04-15-2011, 04:37 PM   #17
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Old 04-16-2011, 07:36 AM   #18
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"The only thing better than not having a job is having a wife who has one"
It takes a brave man to make that statement.
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Old 04-16-2011, 08:36 AM   #19
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Well, I don't say it in FRONT of her!!
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