I would like to ask some advice about couple finances. Married with 1 kid and another on the way.
I’m 30F with 8 years of working experience, working in civil service drawing 90-95k per annum.
My partner is 31M with 7 years of working experience in private sector. He earned less than me (20%~) for about the first 5 years, before drawing similar to me for the next 2 years after switching jobs for the first time. He is getting a new job soon (signed contract and all), with the annual offer to be about 150-160k per annum. However most of this is in shares and on a 4 year vesting schedule (50k) and he plans to take up the company share purchase plan so 10% of his base salary is set aside every month, bringing his real take home pay to be about the same as mine.
Previously we had an agreement to share our expenses 50:50 as our income levels are the same (he did 50:50 even when he was earning less than me). However with the recent job change, I said now he should be paying 2:1 cause his income is way higher than mine, however he argues that it should still remain as 50:50 as realistically his take home salary would be equal or less than mine with the amount of taxes he is paying.
In terms of investments, he is actively investing (lost quite a bit due to market downturn ~20%) while I don’t do investments at all. So he says that as another justification for the status quo to remain as 50:50.
In terms of what he is saving for, we are currently living in a 5rm BTO that is about to MOP. He wants to move and buy a new condo or EC but I’m happy to stay in our current place cause it’s comfortable and we have got used to it. He says that it is just going to depreciate in value past the 8-10y mark, so he wants to find a new condo so it won’t depreciate as much. Because I’m against buying the condo, he says that with his pay increase, he will be footing the cost for the entire place, so all the more reason not to increase the current 50:50.
Would appreciate if anyone has some advice for me.