Covid financial disaster

[Shaboon1978]

2 years ago I lived in a 5 bedroom house and my husband earned 150k a year, 280k of equity, no worries, lovely holidays etc. He lost his job in the city and life changed overnight. Fast forward to now, renting and 150k left, he's setting up a business which should earn 50k a year, I earn around 40k. I've lost all respect for him tbh, in my eyes he's swaned about for 2 years whilst I work going to the gym and I suspect invested on the stock exchange and lost 100k but wouldn't ever tell me. I feel like taking what I have in my name 46k and getting out. I'm 43 and he's 58

So he withdrew his pension and has lost the lot?
I don’t blame you for wanting out.

We only been married for 6 years, I put alot of money into the house etc from what I built myself. I actually have no idea why he hasn't ever built up a work place pension, perhaps it was before you had to? I've dipped out of being employed and self employed and alway concentrated of managing to house my children:-(

We are renting because he wants to move abroad and won't buy in the uk

So, have you/both of you never owned any property? What about the five-bed house you originally had? Was that rented or owned?

God you sound so shallow and materialistic. Why not improve your own earning potential and work together to get back to where you were.....

We both owned property and pooled the money to house all 4 children between us

What in an actual house?

Op, It sounds as if you trusted him and now realise he isn't capable of managing money.

If the equity was only 280k from joint house sales it implies there isn't a history of financial prudence, especially if he had been earning £150k for most of his career.

Of course it's worrying that you are now without pensions and I can understand that you might not want to follow your H abroad without trust. How old are the children?

The good news is that at 43 you have an opportunity to build some security, potentially 20 years.

Fireflygal, thank you, I appreciate your post. We have only been married 6 years, he had a horrible divorce before so started from scratch really 8 years ago and I do get that. I'm so confused at the moment and have come access really badly obviously 🙄 need to take some deep breathes!

It does sound like you are blindly panicking and blaming everything on him tbh. It sounds like you both sleep walked into this situation together.

Are you sure he has lost money in the stock market because it’s been giving really good returns for last two years.

@Shaboon1978

We both owned property and pooled the money to house all 4 children between us

Not much money if only has that much equity

I think you've a right to be angry if he's spunked £130k and won't tell you what on.