fbpx

Do Men Feel Stress When Their Wives Earn More Than They Do?

Even though we haven’t solved the equation of equal pay for the same job that a man and woman do at work, there is a new phenomenon going on where husbands around America are literally becoming clinically depressed because their wives earn more than they do at work. Say what? Yes, as times are changing in America, more men are uncertain about their roles at home and how to handle new responsibilities in their families. According to Pew Research, in 1980 13% of women earned more than their husbands in income.  By 2013, 38% of women earned more than their husbands in income. Now, that number has crossed over 40% and is climbing.  The stereotype of ‘male breadwinners’ is changing for sure, and there is a new dynamic that families have to deal with as they handle responsibilities and money control at home. Interestingly enough, there is actually a magic number that once triggered at home can make men psychologically ...

Read More →

Take The Lump Sum Or The Pension?

You have spent 20 or 30 years working for the same company and now it is time to retire.    You have put money away in your 401(k) and some other savings, but your really large asset is the pension plan where money has been put away for you all of these years.     Your human resources or benefits department sends you this large packet of information telling you what options you have with your pension.   Unbeknownst to you, they tell you that you can either get one check in a lump sum or they offer you various options if you choose a lifetime pension.  So, what is the best direction to take with your pension plan? Part I- Taking The Pension The first option you have is to take the pension.   One of the things to consider up front is that taking the pension allows you to remove the stress of ever having to manage the money.  Essentially, you are turning ...

Read More →

Retirement Is A Washed Up Word

I’m going to perform a small magic trick here at Your Smart Money Moves.   I am going to help you reduce a huge amount of stress with the wave of my magic wand.    I want to officially retire the word ‘retirement’, and poof there it is — gone!   Now, you don’t have to worry about what date you have to retire. According to Webster’s dictionary, the word retirement means “to withdrawal from one’s position or occupation or from active working life.”    The etymology dictionary (www.etymonline) traces the word retirement back to the 1640’s.    Germany was the first country to make the word somewhat popular in the 1880’s.     The United States didn’t really start thinking about the world retirement until the 1930’s, and you didn’t see the term ‘retiree’ in our vocabulary until 1945.   Now, the word retirement means many different things to all walks of people in the United States.    In the financial services world, it is the calculation of ...

Read More →

We are married and don’t discuss money!

When you get married and take your vows, it goes something like this. I take you to be my lawful wife/husband/partner, to have and to hold, for better, for worse, for richer, for poorer, in sickness and health, until death do us part. It does say for richer or poorer, but unfortunately many couples across America just don’t spend time discussing money.  More often than not today, I see separate accounts, unmerged finances, and she pays this and I pay that. I’ve been married for over sixteen years, and while I am the one that predominately handles the money, there is nothing hidden in our financial relationship.  The more secretive and separate things are in a financial relationship, the worse it always turns out to be whether it be your household or in business partnership. I have the same kind of relationship with my business partner. It’s true that each partner needs to have some independence, so it is very ...

Read More →