Change in married life: Working wife To House wife ?

[sumimasen]

Dear JREF Senpai's,

Konnichiwa. O hisashi buri desu.

me and my japanese wifey are pondering over a question from quite some time and do not seem to find any answer. ☝ we would be very grateful if other JREF Senpai's can share their experiences if they have, similar to our situation.


my wife has been working full-time past 8 years and she has been doing extremely well in her career so far (we both are 32 years old). past few months she has been thinking to change to 'house wife' from 'working wife'. she simply wants to take a break from her stressful job and career. i love her very much and i fully support her decision (knowing all the reasons).



What we both are worried over is:

• how to take care of finances if she has to stop working completely ? (as on today we both have full-time jobs and we do not have any kids. so it is double income for us although we do not spend much; and prefer simple lifestyle on a daily basis. her income is kept aside for savings whereas my income is spent for living, housing and other expenses. she has been saving for past 2 years now so we have a sizable amount of savings)
• how much additional amount of money i should spare aside to cover her monthly living expenses (although we do not spend much but there are few teenie-weenie expenses for house-wives too, i assume)
• with only one source of income (considering my wife is not working) how to 'save' for kids in future and save for retirement (at present, me and my wifey are 32 yrs old and we dont have any kids. we are planning for kids in the 34th year of our age).

This is our current situation. I hope all of you whoever is reading this post can help contribute their share of similar experiences.

Domou Arigatou Gozaimashita. --_--


sumimasen

 

[Mikawa Ossan]

I don't remember exactly how much is the limit, but your wife can work part time and still be considered a dependent.

I hope you can find some more useful members to help you! In my case, my marriage fell apart before that even became an issue.

 

[Glenski]

1.1 million yen/year is the limit, Mikawa.

As for all of sumimasen's other questions, I would think that they would be rather personal answers. I mean, how are we to judge what is best for them and any future family matters? At least they are thinking of such things, but geez!

how to take care of finances if she has to stop working completely ?

Very carefully. As mentioned, she can take on part-time work if she likes (and is able. I would add one more caveat here. She is probably well aware that women around her age are not usually asked back to work once they leave it. Not for 20 years anyway (when kids are grown up, and yes, I know you don't have any yet). Think SERIOUSLY how her unemployment will be perceived by potential employers.

Also, depending on what she does for work, will her skill set be up to date (or improvable) in the future, should she decide to re-enter the work force?

how much additional amount of money i should spare aside to cover her monthly living expenses

To be honest, I really don't even understand this question. What do you mean by "her" living expenses? Is she going to spend more money by staying at home? With no kids around, what does she plan to spend money on? Ask her for the answer you seek!

how to 'save' for kids in future and save for retirement

Life insurance plan, investments, additional savings plans (if offered from work), scrimping on things now so you won't have to later, etc. Like I wrote above, this is very personal!

 

[sumimasen]

Glenski, Mikawa Ossan,
Senpai, Domo Arigatou Gozaimashita.
Honto ni tas-kari-mashita.
- sumimasen