{"id":3870,"date":"2019-06-06T14:37:43","date_gmt":"2019-06-06T07:37:43","guid":{"rendered":"https:\/\/www.infinitysolutions.com\/?p=3870"},"modified":"2019-10-16T15:51:38","modified_gmt":"2019-10-16T07:51:38","slug":"financial-planning-for-stay-at-home-spouse","status":"publish","type":"post","link":"https:\/\/www.infinitysolutions.com\/blog\/financial-planning\/financial-planning-for-stay-at-home-spouse\/","title":{"rendered":"Financial Planning For Stay At Home Spouse"},"content":{"rendered":"

I recently came across\u00a0an article by Melinda Gates on Linkedin<\/a>\u00a0which stopped me in my tracks. It was this quote, from economist Marilyn Waring, which particularly resonated with me: \u2018If you hired workers at the market rate to do all the unpaid work women do, unpaid work would be the biggest sector of the global economy.\u2019<\/p>\n

Most of the unpaid work women do \u2013 and yes, some men too, although studies show that it is still largely women \u2013 involves running a household and caring for families, whether that be children or elderly parents or, increasingly for the so-called \u2018sandwich generation\u2019, both. Being a stay-at-home carer requires the ability to multitask 24\/7 and to employ a vast range of skills taking on the roles of chef, accountant, nanny, chauffeur, personal shopper, cleaner, nurse and more.<\/p>\n

Now imagine what would happen if the unthinkable happened and the person who carries out all those tasks in your household became gravely ill, or worse? How much would it cost to pay someone to do everything that they do from looking after pre-school babies or toddlers all day long to cooking two or three meals a day, from keeping the fridge stocked and the house clean and tidy to ferrying kids to school and activities or taking them to the doctor when they are unwell? If that\u2019s starting to make you panic, there is a way to protect your family and it is with life insurance.<\/p>\n

Most families tend to focus on the primary breadwinner when they take out life insurance because it\u2019s pretty easy to comprehend how catastrophic having no income would be on a household. However, people tend to overlook the huge non-financial contribution of a stay-at-home parent because, as Melinda Gates points out, unpaid work has traditionally been undervalued and not even recognised as work. Nevertheless, when you consider how much it would cost to pay someone \u2013 or more likely multiple people \u2013 to do that work, you start to see just how devastating the financial impact of losing that person could be. Which is why life insurance for stay-at-home partners is a vitally important part of a sound financial plan.<\/p>\n

It\u2019s also imperative to consider the long term financial planning requirements of a stay-at-home partner who may have no formal pension provision. Care needs to be taken to ensure that both partners can enjoy a secure retirement, whatever happens in the future. It could be that the working partner invests into a retirement fund for the stay-at-home spouse so that they have independent income in their latter years. Life insurance can also play a part in retirement planning to provide tax-free cash flow. This is a complicated area so I strongly advise both parties sitting down with a financial adviser to discuss the options available to them.<\/p>\n

Just because someone doesn\u2019t get remunerated for their work doesn\u2019t mean that they don\u2019t need to be considered in a financial plan. If you think there are areas you need to address to protect all members of your household, working or otherwise, now is the time to discuss them with a financial adviser and take the necessary steps to plug any gaps. I’d be happy to help – drop me a line at\u00a0verena.malherbe@infinitysolutions.com<\/a>\u00a0for an assessment of your family\u2019s situation.<\/p>\n","protected":false},"excerpt":{"rendered":"

I recently came across\u00a0an article by Melinda Gates on Linkedin\u00a0which stopped me in my tracks. It was this quote, from economist Marilyn Waring, which particularly resonated with me: \u2018If you hired workers at the market rate to do all the unpaid work women do, unpaid work would be the biggest sector of the global economy.\u2019…<\/p>\n","protected":false},"author":7,"featured_media":3871,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false},"categories":[69],"tags":[],"class_list":["post-3870","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-planning","category-69","description-off"],"acf":[],"yoast_head":"\nFinancial Planning For Stay At Home Spouse | Infinity Financial Solutions<\/title>\n<meta name=\"description\" content=\"There should be proper financial planning for stay at home spouse so that they have independent income in their latter years.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.infinitysolutions.com\/blog\/financial-planning\/financial-planning-for-stay-at-home-spouse\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Financial Planning For Stay At Home Spouse | Infinity Financial Solutions\" \/>\n<meta property=\"og:description\" content=\"There should be proper financial planning for stay at home spouse so that they have independent income in their latter years.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.infinitysolutions.com\/blog\/financial-planning\/financial-planning-for-stay-at-home-spouse\/\" \/>\n<meta property=\"og:site_name\" content=\"Infinity Financial Solutions\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/infinityfinancialsolutions\" \/>\n<meta property=\"article:published_time\" content=\"2019-06-06T07:37:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-10-16T07:51:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.infinitysolutions.com\/wp-content\/uploads\/Financial-Planning.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"652\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Verena Malherbe\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@investmentasia\" \/>\n<meta name=\"twitter:site\" content=\"@investmentasia\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Verena Malherbe\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.infinitysolutions.com\/blog\/financial-planning\/financial-planning-for-stay-at-home-spouse\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.infinitysolutions.com\/blog\/financial-planning\/financial-planning-for-stay-at-home-spouse\/\"},\"author\":{\"name\":\"Verena Malherbe\",\"@id\":\"https:\/\/www.infinitysolutions.com\/#\/schema\/person\/d70d34b0455e7292c0cec0386bc6fe08\"},\"headline\":\"Financial Planning For Stay At Home Spouse\",\"datePublished\":\"2019-06-06T07:37:43+00:00\",\"dateModified\":\"2019-10-16T07:51:38+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.infinitysolutions.com\/blog\/financial-planning\/financial-planning-for-stay-at-home-spouse\/\"},\"wordCount\":563,\"publisher\":{\"@id\":\"https:\/\/www.infinitysolutions.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.infinitysolutions.com\/blog\/financial-planning\/financial-planning-for-stay-at-home-spouse\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.infinitysolutions.com\/wp-content\/uploads\/Financial-Planning.jpg\",\"articleSection\":[\"Financial Planning\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.infinitysolutions.com\/blog\/financial-planning\/financial-planning-for-stay-at-home-spouse\/\",\"url\":\"https:\/\/www.infinitysolutions.com\/blog\/financial-planning\/financial-planning-for-stay-at-home-spouse\/\",\"name\":\"Financial Planning For Stay At Home Spouse | Infinity Financial Solutions\",\"isPartOf\":{\"@id\":\"https:\/\/www.infinitysolutions.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.infinitysolutions.com\/blog\/financial-planning\/financial-planning-for-stay-at-home-spouse\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.infinitysolutions.com\/blog\/financial-planning\/financial-planning-for-stay-at-home-spouse\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.infinitysolutions.com\/wp-content\/uploads\/Financial-Planning.jpg\",\"datePublished\":\"2019-06-06T07:37:43+00:00\",\"dateModified\":\"2019-10-16T07:51:38+00:00\",\"description\":\"There should be proper financial planning for stay at home spouse so that they have independent income in their latter years.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.infinitysolutions.com\/blog\/financial-planning\/financial-planning-for-stay-at-home-spouse\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.infinitysolutions.com\/blog\/financial-planning\/financial-planning-for-stay-at-home-spouse\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.infinitysolutions.com\/blog\/financial-planning\/financial-planning-for-stay-at-home-spouse\/#primaryimage\",\"url\":\"https:\/\/www.infinitysolutions.com\/wp-content\/uploads\/Financial-Planning.jpg\",\"contentUrl\":\"https:\/\/www.infinitysolutions.com\/wp-content\/uploads\/Financial-Planning.jpg\",\"width\":1000,\"height\":652},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.infinitysolutions.com\/blog\/financial-planning\/financial-planning-for-stay-at-home-spouse\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.infinitysolutions.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Financial Planning For Stay At Home Spouse\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.infinitysolutions.com\/#website\",\"url\":\"https:\/\/www.infinitysolutions.com\/\",\"name\":\"Infinity Financial Solutions\",\"description\":\"Infinity specialises in providing superior financial planning solutions to expatriates throughout Asia and across the world.\",\"publisher\":{\"@id\":\"https:\/\/www.infinitysolutions.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.infinitysolutions.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.infinitysolutions.com\/#organization\",\"name\":\"Infinity Solutions\",\"url\":\"https:\/\/www.infinitysolutions.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.infinitysolutions.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.infinitysolutions.com\/wp-content\/uploads\/infinity-solutions-logo-no-tagline-200x57.png\",\"contentUrl\":\"https:\/\/www.infinitysolutions.com\/wp-content\/uploads\/infinity-solutions-logo-no-tagline-200x57.png\",\"width\":200,\"height\":57,\"caption\":\"Infinity Solutions\"},\"image\":{\"@id\":\"https:\/\/www.infinitysolutions.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/infinityfinancialsolutions\",\"https:\/\/x.com\/investmentasia\",\"https:\/\/twitter.com\/investmentasia\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.infinitysolutions.com\/#\/schema\/person\/d70d34b0455e7292c0cec0386bc6fe08\",\"name\":\"Verena Malherbe\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.infinitysolutions.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/e1ba89e5c32621e286879135b69af4eba3c93ac711f58ddfbdf1dbcc81532390?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/e1ba89e5c32621e286879135b69af4eba3c93ac711f58ddfbdf1dbcc81532390?s=96&d=mm&r=g\",\"caption\":\"Verena Malherbe\"},\"description\":\"Financial Consultant I have decades of experience in the financial services industry in South Africa. I worked for Discovery, the country\u2019s largest insurer, for 16 years as a Specialist Consultant\/Franchise Director, heading up many of their franchises, before moving to Regal, a leading financial advisory firm. I decided to relocate and join Infinity in Ho Chi Minh City which would give myself offshore experience in the industry and satisfy my craving to explore a different culture.\",\"url\":\"https:\/\/www.infinitysolutions.com\/author\/verena-malherbe\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Financial Planning For Stay At Home Spouse | Infinity Financial Solutions","description":"There should be proper financial planning for stay at home spouse so that they have independent income in their latter years.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.infinitysolutions.com\/blog\/financial-planning\/financial-planning-for-stay-at-home-spouse\/","og_locale":"en_US","og_type":"article","og_title":"Financial Planning For Stay At Home Spouse | Infinity Financial Solutions","og_description":"There should be proper financial planning for stay at home spouse so that they have independent income in their latter years.","og_url":"https:\/\/www.infinitysolutions.com\/blog\/financial-planning\/financial-planning-for-stay-at-home-spouse\/","og_site_name":"Infinity Financial Solutions","article_publisher":"https:\/\/www.facebook.com\/infinityfinancialsolutions","article_published_time":"2019-06-06T07:37:43+00:00","article_modified_time":"2019-10-16T07:51:38+00:00","og_image":[{"width":1000,"height":652,"url":"https:\/\/www.infinitysolutions.com\/wp-content\/uploads\/Financial-Planning.jpg","type":"image\/jpeg"}],"author":"Verena Malherbe","twitter_card":"summary_large_image","twitter_creator":"@investmentasia","twitter_site":"@investmentasia","twitter_misc":{"Written by":"Verena Malherbe","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.infinitysolutions.com\/blog\/financial-planning\/financial-planning-for-stay-at-home-spouse\/#article","isPartOf":{"@id":"https:\/\/www.infinitysolutions.com\/blog\/financial-planning\/financial-planning-for-stay-at-home-spouse\/"},"author":{"name":"Verena Malherbe","@id":"https:\/\/www.infinitysolutions.com\/#\/schema\/person\/d70d34b0455e7292c0cec0386bc6fe08"},"headline":"Financial Planning For Stay At Home Spouse","datePublished":"2019-06-06T07:37:43+00:00","dateModified":"2019-10-16T07:51:38+00:00","mainEntityOfPage":{"@id":"https:\/\/www.infinitysolutions.com\/blog\/financial-planning\/financial-planning-for-stay-at-home-spouse\/"},"wordCount":563,"publisher":{"@id":"https:\/\/www.infinitysolutions.com\/#organization"},"image":{"@id":"https:\/\/www.infinitysolutions.com\/blog\/financial-planning\/financial-planning-for-stay-at-home-spouse\/#primaryimage"},"thumbnailUrl":"https:\/\/www.infinitysolutions.com\/wp-content\/uploads\/Financial-Planning.jpg","articleSection":["Financial Planning"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.infinitysolutions.com\/blog\/financial-planning\/financial-planning-for-stay-at-home-spouse\/","url":"https:\/\/www.infinitysolutions.com\/blog\/financial-planning\/financial-planning-for-stay-at-home-spouse\/","name":"Financial Planning For Stay At Home Spouse | Infinity Financial Solutions","isPartOf":{"@id":"https:\/\/www.infinitysolutions.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.infinitysolutions.com\/blog\/financial-planning\/financial-planning-for-stay-at-home-spouse\/#primaryimage"},"image":{"@id":"https:\/\/www.infinitysolutions.com\/blog\/financial-planning\/financial-planning-for-stay-at-home-spouse\/#primaryimage"},"thumbnailUrl":"https:\/\/www.infinitysolutions.com\/wp-content\/uploads\/Financial-Planning.jpg","datePublished":"2019-06-06T07:37:43+00:00","dateModified":"2019-10-16T07:51:38+00:00","description":"There should be proper financial planning for stay at home spouse so that they have independent income in their latter years.","breadcrumb":{"@id":"https:\/\/www.infinitysolutions.com\/blog\/financial-planning\/financial-planning-for-stay-at-home-spouse\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.infinitysolutions.com\/blog\/financial-planning\/financial-planning-for-stay-at-home-spouse\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.infinitysolutions.com\/blog\/financial-planning\/financial-planning-for-stay-at-home-spouse\/#primaryimage","url":"https:\/\/www.infinitysolutions.com\/wp-content\/uploads\/Financial-Planning.jpg","contentUrl":"https:\/\/www.infinitysolutions.com\/wp-content\/uploads\/Financial-Planning.jpg","width":1000,"height":652},{"@type":"BreadcrumbList","@id":"https:\/\/www.infinitysolutions.com\/blog\/financial-planning\/financial-planning-for-stay-at-home-spouse\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.infinitysolutions.com\/"},{"@type":"ListItem","position":2,"name":"Financial Planning For Stay At Home Spouse"}]},{"@type":"WebSite","@id":"https:\/\/www.infinitysolutions.com\/#website","url":"https:\/\/www.infinitysolutions.com\/","name":"Infinity Financial Solutions","description":"Infinity specialises in providing superior financial planning solutions to expatriates throughout Asia and across the world.","publisher":{"@id":"https:\/\/www.infinitysolutions.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.infinitysolutions.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.infinitysolutions.com\/#organization","name":"Infinity Solutions","url":"https:\/\/www.infinitysolutions.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.infinitysolutions.com\/#\/schema\/logo\/image\/","url":"https:\/\/www.infinitysolutions.com\/wp-content\/uploads\/infinity-solutions-logo-no-tagline-200x57.png","contentUrl":"https:\/\/www.infinitysolutions.com\/wp-content\/uploads\/infinity-solutions-logo-no-tagline-200x57.png","width":200,"height":57,"caption":"Infinity Solutions"},"image":{"@id":"https:\/\/www.infinitysolutions.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/infinityfinancialsolutions","https:\/\/x.com\/investmentasia","https:\/\/twitter.com\/investmentasia"]},{"@type":"Person","@id":"https:\/\/www.infinitysolutions.com\/#\/schema\/person\/d70d34b0455e7292c0cec0386bc6fe08","name":"Verena Malherbe","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.infinitysolutions.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/e1ba89e5c32621e286879135b69af4eba3c93ac711f58ddfbdf1dbcc81532390?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/e1ba89e5c32621e286879135b69af4eba3c93ac711f58ddfbdf1dbcc81532390?s=96&d=mm&r=g","caption":"Verena Malherbe"},"description":"Financial Consultant I have decades of experience in the financial services industry in South Africa. I worked for Discovery, the country\u2019s largest insurer, for 16 years as a Specialist Consultant\/Franchise Director, heading up many of their franchises, before moving to Regal, a leading financial advisory firm. I decided to relocate and join Infinity in Ho Chi Minh City which would give myself offshore experience in the industry and satisfy my craving to explore a different culture.","url":"https:\/\/www.infinitysolutions.com\/author\/verena-malherbe\/"}]}},"_links":{"self":[{"href":"https:\/\/www.infinitysolutions.com\/wp-json\/wp\/v2\/posts\/3870","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.infinitysolutions.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.infinitysolutions.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.infinitysolutions.com\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/www.infinitysolutions.com\/wp-json\/wp\/v2\/comments?post=3870"}],"version-history":[{"count":3,"href":"https:\/\/www.infinitysolutions.com\/wp-json\/wp\/v2\/posts\/3870\/revisions"}],"predecessor-version":[{"id":4764,"href":"https:\/\/www.infinitysolutions.com\/wp-json\/wp\/v2\/posts\/3870\/revisions\/4764"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.infinitysolutions.com\/wp-json\/wp\/v2\/media\/3871"}],"wp:attachment":[{"href":"https:\/\/www.infinitysolutions.com\/wp-json\/wp\/v2\/media?parent=3870"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.infinitysolutions.com\/wp-json\/wp\/v2\/categories?post=3870"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.infinitysolutions.com\/wp-json\/wp\/v2\/tags?post=3870"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}