Being on the same page as your spouse is important. This is true for pretty much anything you can think of. You don’t have to agree on everything, but you need to be able to work together and be pointing in the same direction on the big stuff.
This is especially true of your finances.
This article focuses on the day to day aspects of making sure you and your spouse are moving in the same direction financially. Being on the same page with regards to your budgeting and spending is important, but your collaboration needs to go further.
You need to both agree on the bigger financial picture as well. You need to agree on what you want out of retirement, and how you are going to get there.
That means you both need to be involved in creating your financial plan. Your retirement is going to happen to both of you, so (just like everything) you’re in this together.
If you aren’t both involved in planning your future, then you’re probably envisioning different things and hoping for different retirements. This is such a common occurrence it’s pretty much a cliché in financial planner circles.
That’s not something you want. It almost inevitably leads to one partner feeling like they aren’t being heard and potentially disengaging from the process. For your plan to work, both partners need to buy in.
McLean Asset Management Corporation (MAMC) is a SEC registered investment adviser. The content of this publication reflects the views of McLean Asset Management Corporation (MAMC) and sources deemed by MAMC to be reliable. There are many different interpretations of investment statistics and many different ideas about how to best use them. Past performance is not indicative of future performance. The information provided is for educational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy or sell securities. There are no warranties, expressed or implied, as to accuracy, completeness, or results obtained from any information on this presentation. Indexes are not available for direct investment. All investments involve risk.
The information throughout this presentation, whether stock quotes, charts, articles, or any other statements regarding market or other financial information, is obtained from sources which we, and our suppliers believe to be reliable, but we do not warrant or guarantee the timeliness or accuracy of this information. Neither our information providers nor we shall be liable for any errors or inaccuracies, regardless of cause, or the lack of timeliness of, or for any delay or interruption in the transmission there of to the user. MAMC only transacts business in states where it is properly registered, or excluded or exempted from registration requirements. It does not provide tax, legal, or accounting advice. The information contained in this presentation does not take into account your particular investment objectives, financial situation, or needs, and you should, in considering this material, discuss your individual circumstances with professionals in those areas before making any decisions.