38. “He owes his ex $70k/year and it’s straining our finances and our relationship”
Rebecca and John are both lawyers making good money. John makes more, but unlike Rebecca, he barely has savings, and he has almost nothing to show at the end of each fiscal year. The reason? He’s legally obliged to pay his ex-wife $55k a year as well as maintaining expensive life insurance payments that will cover her should something happen to him. He’s trapped in a bad situation. They both feel like there’s no way out.
Money For Couples with Ramit Sethi
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Show Notes
Rebecca and John are both attorneys and make good money. While John makes more, he’s legally obligated to pay around $70k annually in alimony and insurance tied to a past divorce settlement.
On top of that, his income can vary widely, making the future difficult to plan for—and he has debt. He’s 61 but sees no way he can retire any time soon.
They’re dealing with not only the very real financial problems they face but also the resentment caused by them. That resentment colors every interaction they have with money.
When I start digging into where the rest of their income goes, they start to get a little dodgy. We’re going to shine a light on some of their spending habits and find a path that lets them live a Rich Life without the stress.
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