My husband earns around 37k a year & im currently not working. It was a joint decision that I would look after the home & children.
At some point I would hope to work 16 hours a week & top up with tax credits, this would give me a reasonable income taking into account child maintenance & benefit. This would still leave me with around £700 a month less than x2b & I would have to feed & clothe the children with my income.
Once the children have finished education & CM & tax credits stop I would find myself on the breadline with a minimum wage job, whilst he would now have a good income to do as he pleases. Its quite a worry.
There is currently around 360k equity in our house, & around 234k (65%) would adequately house us in the area we currently live. Would I be likely to attain that sort of settlement, with or without SM? or would I be better off concentrating on getting the equity I need to get our home up & running & try not to worry about the awaiting poverty trap/being forced to sell my home in order to live?
Mortgage is virtually nil. House is worth around 380k, 360k in real terms after mortgage & costs.
I wouldnt expect (or be able to afford) to live in the FMH.
H doesnt have a pension & neither do I.
He is 40 & im 35.
CM would be around £400 a month based on CSA figures.
Have you thought about studying to improve your eduction whilst the children are at school and you are not working. When they move up to High school and you can work longer hours, you can then improve your career and not be on a minimum wage job when they leave school.