child/spousal support works differently and is unlikely to be adjusted downward based on a decrease in income, especially in this scenario.
That’s right: as far as I know that’s the only case of means testing where we go by what you could be earning and not what you are earning. That is, it’s normally income dependent, but if the court determines you’re voluntarily underemployed they can calculate based on imputed income.
good luck buying a house
Setting aside the question of saving enough to buy the house, which is about how much you decide to keep for yourself and not whether you donate via cash or voluntarily pay reduction, the issue is that banks will see a lower income than if you were drawing your full pay. But since you can go back to full pay (plus donation) at any point, you can do this as soon as you start looking for a house, as long as you remember to.
We’ve been keeping our eye on houses in our area for several years. If the right one showed up on the market we would likely try to buy. I know people who have spent their entire careers in this state. Maybe it’s not the most typical approach, but I don’t expect there will be a concentrated 6 month period of “looking for a house” for us.
For a more concrete example, we nearly lost our housing last year on very short notice (<1 month), and so had to secure a new rental. Most rentals require income to be a certain percentage of the rent (often 300%). We would have ended up living in a hotel.
The idea that you should in other circumstances be able to have while choosing to make lest rings as fairly naive and not based in reality to me.
That’s right: as far as I know that’s the only case of means testing where we go by what you could be earning and not what you are earning. That is, it’s normally income dependent, but if the court determines you’re voluntarily underemployed they can calculate based on imputed income.
Setting aside the question of saving enough to buy the house, which is about how much you decide to keep for yourself and not whether you donate via cash or voluntarily pay reduction, the issue is that banks will see a lower income than if you were drawing your full pay. But since you can go back to full pay (plus donation) at any point, you can do this as soon as you start looking for a house, as long as you remember to.
| as you start looking for a house
We’ve been keeping our eye on houses in our area for several years. If the right one showed up on the market we would likely try to buy. I know people who have spent their entire careers in this state. Maybe it’s not the most typical approach, but I don’t expect there will be a concentrated 6 month period of “looking for a house” for us.
For a more concrete example, we nearly lost our housing last year on very short notice (<1 month), and so had to secure a new rental. Most rentals require income to be a certain percentage of the rent (often 300%). We would have ended up living in a hotel.
The idea that you should in other circumstances be able to have while choosing to make lest rings as fairly naive and not based in reality to me.
I don’t understand your last paragraph?