TOOLMAN
Recycles dryer sheets
- Joined
- Jan 14, 2013
- Messages
- 296
I AM; 57, and DW is 57. Found this site a few weeks ago.
DW & I grew up very poor, in nowhere WV, we started dating in 1970. We have always worked. Have W2’s back to age 14. I have always worked full time, and DW always worked part time. My income is now 7X DW. DW & I are not compatible with money; I am a saver, and DW is a spender.
The system I found, as a work around this was; “needs” 1st, and “wants” 2nd. I set the “wants” portion aka pocket money at the first of the year, and write monthly allowance check. Neither is accountlable to other on how the money is spent. Been on this system since 1982. The annual “wants”rate has been set to between 1-2 % of NW. The way the system works is; if you want more pocket money - then grow NW. Today DW has $0 in pocket money reserves, and I have 500K.
Our NW is 3.6M, no kids, no debt, no pension. I intend to RE at 58, and DW RE at 62. Annual expenses in retirement budget at 140K.
I don’t expect to turn into a spender in retirement, and I don’t expect DW to turn into a saver. Not sure if there is a better money solution in retirement or spending habits change. I guess we balance each other out. Neither is perfectly happy with pocket money formula, but we found this working compromise. Not sure if this a common issue or patterns change in retirement.
DW & I grew up very poor, in nowhere WV, we started dating in 1970. We have always worked. Have W2’s back to age 14. I have always worked full time, and DW always worked part time. My income is now 7X DW. DW & I are not compatible with money; I am a saver, and DW is a spender.
The system I found, as a work around this was; “needs” 1st, and “wants” 2nd. I set the “wants” portion aka pocket money at the first of the year, and write monthly allowance check. Neither is accountlable to other on how the money is spent. Been on this system since 1982. The annual “wants”rate has been set to between 1-2 % of NW. The way the system works is; if you want more pocket money - then grow NW. Today DW has $0 in pocket money reserves, and I have 500K.
Our NW is 3.6M, no kids, no debt, no pension. I intend to RE at 58, and DW RE at 62. Annual expenses in retirement budget at 140K.
I don’t expect to turn into a spender in retirement, and I don’t expect DW to turn into a saver. Not sure if there is a better money solution in retirement or spending habits change. I guess we balance each other out. Neither is perfectly happy with pocket money formula, but we found this working compromise. Not sure if this a common issue or patterns change in retirement.