I’m sure this is a fairly common scenario in marriages: one partner takes a back seat to let the other shine in his/her career. Early in my marriage, I was the breadwinner. Then we had kids, and I sacrificed my career to be able to care for them (ie, switching to jobs with flexible hours and schedules, and at some points either going part time or even staying at home). My husband meanwhile advanced in his career and steadily became the breadwinner many times over.
As he’s advanced, we’ve had to move several times throughout the years along with his promotions. This meant me dropping my job and having to get a new one wherever we ended up. This has gone very well for him but has played havoc with my retirement planning. Eventually, my kids got older and I started a new career that I’m 9 years into. Needless to say, my 401k is pathetic compared to his. Even so, 9 years is a lot of time to invest in a job that I’ll have to leave now that he’s due for another move, yet again.
While he does very, very well I’ve had to stop and think on this one. I’ll be at 11 years at my job in which I have a 401k and pension I’m working towards. That will all come to an end with this move. That’s issue number one. Issue number two is we are moving to Paris, France—a foreign country for us. So while his retirement is safe with the same company I’ll have to figure out a new job for myself. I’m a teacher so that may be an option. I’m also ex military so maybe looking into DoD schools or an embassy job might work, or my last choice is applying for a corporate job. Been there, done that, not my passion.
So, I have a lot of questions. First, what is the best strategy or what options are out there for someone in my position of changing jobs constantly? I looked into an IRA but I know there are contribution limitations. Is there anyway I can roll over my govt service years (since I teach) if I get another govt job? For example, I was able to roll over my military time in service when I got my teaching job. Also, there is the fact that we will be residing in a foreign country. That also puts a new spin on things.
Finally, if not here, I’d like to know who or what type of service can I seek to help me make some sound decisions about this or at least get a solid starting point? I’m clueless! Help!
Edit: Just for the record, I’m a good 27 years from retirement age, I’m a college graduate, I have a respectable job which I excel at, am respected for, and have leadership roles in. I don’t see why asking what’s a wise way to invest my money for later in life should be dismissed just because my husband does well. It’s a whole lotta sexist in my opinion.
Submitted October 12, 2020 at 07:53PM by WordierThanThou https://ift.tt/2SPExeY
