Well this evening didn’t quite turn out like I expected, so I wanted to get some additional thoughts on this topic. I opened up a discussion about a marriage contract with my girlfriend. As we are already over 7 years together and kids + marriage is around the corner (probably within the next 2-3 years), it made me think more about a marriage contract. Turns out it’s not even a question for her as she wouldn’t want that. Either we’re both all in or not, no room for discussion. But is that really fair in my situation?
She has a normal job and earns about 60k gross while working 100%. There is basically no potential for a higher income. I’m working in the banking sector and earn 120k gross right now. It’s very likely that I’ll earn 150-200k within the next 10 years. So I’ll probably top out at a 3x higher salary than hers and I’m already earning twice as much as her. That’s totally fine for me! She isn’t career-oriented and her biggest goal is to start a family and rise 2 kids. She’ll have to reduce down to 20-60% anyway and I’ll bring in 80-90% of the total income anyway. What’s mine will be hers and what’s hers will be mine. I’m totally ready to share everything of it as long as we are married and a family.
My issue is my high financial risk if it doesn’t work long-term. She’ll get the kids, the house to live with them and I’ll just be her paycheck. Not only that but she’ll get half of everything I’ve earned in that time we were together including all my retirement assets. This just doesn’t work for me. Of course it’s not romantical to think about those things, but I want to be rational when it’s about money.
I suggested that it would be fair, in the event of a divorce, that she would get 50% of my 1st/2nd pillar (as already required by law) and 33% of the assets we accumulated while being married within the 3rd pillar and our taxable accounts (cash, IBKR etc.). I rationalized that if we wouldn’t marry and wouldn’t have kids, so just staying together and both working 100%, we would end up with a net worth split of around 25/75. So by marrying she is already getting 50/50 in terms of my 1st/2nd pillar and 33/67 in terms of all the other assets.
I’m I really so wrong thinking like that? Am I being unfair to her and should I really share 50% of everything what we earn and save while being married? Despite having a higher education and a much higher salary? Thus totally justified that I’ll be sleeping on the couch tonight?