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Financial Issues This forum is for discussing any of the financial issues involved in your divorce.

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  #1  
Old 05-13-2022, 08:18 AM
Connery Connery is offline
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Default What would you do ?

What would you do? We sold our home for 875,000. Stbx wants to keep the proceeds of home sale, around 740,000, this is after payment of realtor fees, line of credit and property tax payments and legal fees.

I would then keep my omers pension, evaluated at 500,000 back in 2012 and i would pay no spousal support, which could be $2200 a month.(less after I retire)

I am 60 and want to retire due to health issues. Stbx wife never really worked for 27 years of the marriage and receives disability support for anxiety.

I was looking forward to receiving half of the proceeds from the home sale, ($370,000) but then I would give her half my pension and pay spousal support.

So my options are:
(1) accept her offer as is and get it over with
(2) receive $370,000 now , give her half my pension and pay spousal support

Any comments would be greatly appreciated.
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  #2  
Old 05-13-2022, 08:51 AM
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Tayken Tayken is offline
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Originally Posted by Connery View Post
What would you do? We sold our home for 875,000. Stbx wants to keep the proceeds of home sale, around 740,000, this is after payment of realtor fees, line of credit and property tax payments and legal fees.

I would then keep my omers pension, evaluated at 500,000 back in 2012 and i would pay no spousal support, which could be $2200 a month.(less after I retire)

I am 60 and want to retire due to health issues. Stbx wife never really worked for 27 years of the marriage and receives disability support for anxiety.

I was looking forward to receiving half of the proceeds from the home sale, ($370,000) but then I would give her half my pension and pay spousal support.

So my options are:
(1) accept her offer as is and get it over with
(2) receive $370,000 now , give her half my pension and pay spousal support

Any comments would be greatly appreciated.
Do a spreadsheet. I suspect that it will come out that getting 370,000 now won't even come close to the long-term benefit of your pension and not paying SS.

If you are 60 now and live to 85 you will have paid 2200 a month until you were 85 its 600,000 in loss. Double the 370,000 and I doubt you could double the 370,000 if you invested it. You are on a public forum asking basic math questions.

Talk to an accountant they will show you pennies from the pounds.

Don't be penny wise and pound foolish.
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Old 05-13-2022, 10:34 AM
DHTO DHTO is offline
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I am an accountant and can let you know without a doubt that option 1 is 100% better for you.

If you took the $370,000 and invested it in preferred stocks (at your age I wouldn't suggest anything more risky than that), you would likely get somewhere around 5% return, or $18,500 per year.

Alternative 2 costs you $2,200 per month + half your pension? It's a no-brainer. Keep your pension and no spousal.

The only time I would suggest #2 is if you thought you were in serious health problems and could die within a short timeframe.
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Old 05-15-2022, 07:51 AM
Connery Connery is offline
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Thank you for your comments. Much appreciated.
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