SAHM Retirement

Stay at Home Moms have long been neglected when it comes to Retirement & Pension for as long as we can remember. Yes, she worked in the home raising her babies, from the terrible twos thru the come back home from college adults, with no significant income.
This can be described as a Labor of Love but what happens when she turns 65 and her husband can no longer work? Women who have careers and
work out of the home have 401K, Pensions, Stocks, subscribe to Social Security and have bank accounts. Why not the SAHM? According to Suze Orman. --"They sell themselves short" "You are working - you just aren't getting paid for it. If you and your husband/mate decide that you'll be the stay-at-home parent, his/her income needs to pay for both of your retirements." You can open a Spousal IRA - the only requirement is that the working partner earn enough income to cover the contribution. As for Social Security, stay-at-home Moms can claim a benefit based on their partners. Even if you divorce, if you were married for at least ten years, you're entitled to that money, which can equal up to half of the main recipient's benefit. For example: if your husband is set to receive $1,000 per month, you would get $500 in Social Security benefits. AARP has a S.S benefits calculator that you should use to verify your benefits. Google it. So, before you kick him to the curb after 9 years of your extreme dedication to the family. Stay another year to guarantee that you will collect at least half of his Social Security. If you are a happily married SAHM, it is not too late to get that IRA going. No one can predict the future, so try to sock away some retirement funds. Believe me when I tell you that, Social Security is not enough income for you to have a comfortable life. Make it happen. Read More HERE!
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