He's lost his job and says he doesn't work to work.

[evelynina]

My OH has been working contracting for 2 years he made 6 figures. He got let go for trading on the stock market without informing his work. We were planning on upsizing our home OH now says he doesn't want to work for a while he wants to trade on the stock market. He has already bought 25k of shares. He doesn't know anything about trading just taking his friends advice who all still live with their parents. We have 1 DD who is nearly 8. I work full time and can pay the bills. I'm absolutely fuming with him he had a good career and seems to have thrown it down the drain for high risk stocks.

I wouldn’t be happy either but I don’t know anything about it.

Are you married and how are assets and savings split? I would be looking to separate everything so he can’t endanger your home etc.

So let me guess, you're not married? He doesn't get to unilaterally decide you will be carrying the can financially whilst he gambles, because that's what it is. I'd tell him we were splitting up and mean it.

His unilateral decision seems to be that he doesn't want to work and seems to think he can make £££ like his. Its not attractive as presumably he was quite ambitious before to be working at that level. He also seems happy to put all the pressure on you as whilst he is following this dream you'll need to be steady Eddie incase it all blows up. I wouldn't be impressed given that was the plan you both had

Taking risks with the stock market is like gambling. He needs to get his thumb out of his arse, get another job. It’s just not good enough. He was dishonest to his employers, so I don’t know how that’ll work for his next job.

I really hope you are not married to him and this £25k he's gambling with is his own dosh. I would be very worried about him borrowing to fund this, including your house and be telling him we're splitting up.

WTAF. So he wants you to work while he gambles? Fuck that for a game of soldiers. Just say that you can't see a future with him in that case.

How has his trading gone so far?

How entangled are your finances?
Are you married?
Is he planning to continue to pay his share of the bills or is he expecting you to cover him?

DH was a (currency) trader for a well known bank for 30 years. He considered it when he got made redundant. He was a successful, professional trader with 30 years markets experience and decided he couldn't make it work to provide a feasible income. Enough for a bit of spending money, sure, but not enough to raise a family on. You are quite right to be very concerned OP.

If he's been earning 6 figures you may be able to afford something like this.
That £25k is his float. He plays with that and reinvests anything he earns. No dipping into other cash. If it all runs out, he gets a job. If he makes money he can keep playing. If he is sort of breaking even, or earning low, he works part time on the side to contribute. If you are well off you might be able to afford a bigger float.
Your name needs to be on your home though.

Is he planning to continue to pay his share of the bills or is he expecting you to cover him?

This! If he’s still paying his way, then I guess it’s his choice, but if he expects you to cover him, he’s taking the piss.

Yes as Edwin says it’s tough to make a living consistently and needs discipline to make sure that you don’t lose your shirt. My experience is that this dawns on people eventually and they then either give up or take more risk to try to make it pay - Then they either get lucky or lose big.

So like a lot of business ideas, sounds good in theory, tough in practice.

But I wouldn’t say it’s any more stupid than some of the other business ideas I’ve heard of.

I'm suspicious that he did more than he is admitting to. Did he use company funds or something?

That would terrify me @evelynina

My ex dh lost a lot of money and lied again and again about gambling on shares. Hence he is now an ex.

@WallaceinAnderland

I'm suspicious that he did more than he is admitting to. Did he use company funds or something?

He doesn’t need to. Insider trading is illegal

I would be splitting my assets to protect myself. At least he is your OH and not your DH.
Regardless 25K isn't going to get him far if he is career trading. Even if his shares double in 12 months (unlikely) he'll only "earn" 25K.

Hope your not married! Would take action to protect yourself financially, and protect your home.

Then reflect on the relationship. This kind of gambling would be a ‘deal breaker’ for me.

Then he can leave and fund his own house. Must be nice to say you're just not working because you feel like it.

Maybe it's partly because he's afraid he won't get anything after being let go under a cloud like that.

@Bluntness100 but OP says he doesn't know anything about trading so he couldn't have been insider trading could he?

Bloody hell. Do you want to stay with him?

@category12

Maybe it's partly because he's afraid he won't get anything after being let go under a cloud like that.

That's what I'm thinking. He's done something that he knows will prevent him from getting another job.

[quote WallaceinAnderland]@Bluntness100 but OP says he doesn't know anything about trading so he couldn't have been insider trading could he?[/quote]
Well eh, she also says he lost his job for trading without telling his company so he was trading,

If he's been let go for insider trading, would he be able to trade? Aren't there laws/rules/guidelines around this?