1 Peter 3:5-6
5 For this is how the holy women who hoped in God used to adorn themselves, by submitting to their husbands, 6 as Sarah obeyed Abraham, calling him lord. And you are her children, if you do good and do not fear anything that is frightening.
Sarah called Abraham "lord" (sometimes translated "master"). Should wives today follow Sarah's example in calling their husbands "lord"? What does this title mean to a woman? For Sarah, it was a sign of her submission. To comply to her husband's wishes, to please her mate, to encourage him, to yield to his preferences--some modern women might be willing to sign their names on the dotted line to the above. However, to call him "lord"? What does that imply?
To me, it implies trust. Trust that he will not misuse the power found in the title "master". Trust that his care for her will be motivated by love and self-denial. Trust in the wisdom God has given him to lead her in godly directions.
I would love to call my husband one day "master" or "lord", but ... to be honest ... it scares me. I imagine that it would scare him, as well, to bear the responsibility of that title.
By God's grace ...
[note: i am not suggesting that wives ought to do this as though it were a command in Scripture. Sarah used this title as a gesture of submission and trust in her husband, a gesture that shows to the world her love and confidence in her mate. One could call her husband "lord" or perhaps show that same respect in another fashion that bears just as much weight in our culture today.]