💰 Family finances · #41
A full-time homemaker has no retirement savings. What can be done?
Husband and wife should plan the wife's future savings from early on, because a homemaker has no employer contributions and is most exposed if divorce or death occurs.
The Prophet ﷺ said that it is better to leave one's heirs well off than to leave them begging from people (Sahih al-Bukhari 1295), and Allah tells those who worry about leaving weak offspring to be God-conscious and plan (an-Nisa' 4:9). Options in Malaysia include voluntary EPF contributions for housewives through the i-Suri scheme, a Tabung Haji account, life takaful with the wife as nominee or hibah beneficiary, and gifting assets such as the house during one's lifetime. A husband can make monthly contributions for his wife as a kindness, not as a substitute for maintenance. In polygamy, fair arrangements for each wife need to be considered. See Family finances and Managing an estate.
The Prophet ﷺ said that it is better to leave one's heirs well off than to leave them begging from people (Sahih al-Bukhari 1295), and Allah tells those who worry about leaving weak offspring to be God-conscious and plan (an-Nisa' 4:9). Options in Malaysia include voluntary EPF contributions for housewives through the i-Suri scheme, a Tabung Haji account, life takaful with the wife as nominee or hibah beneficiary, and gifting assets such as the house during one's lifetime. A husband can make monthly contributions for his wife as a kindness, not as a substitute for maintenance. In polygamy, fair arrangements for each wife need to be considered. See Family finances and Managing an estate.
Sources
Sahih al-Bukhari 1295Surah an-Nisa' 4:9Surah at-Talaq 65:7