Talk and share goals before walking down the aisle, couples should have a talk about their financial health and goals. They should ask each other tough questions: Do we want children? When? Who will care for them? Will they go to public or private school? What kind of life do we want? When will we retire?
“In my ideal plan for couples, they would have a meeting every week on their finances,” said Karen Altfest, a financial planner who runs the New York firm L. J. Altfest & Company, with her husband, Lewis. “That way, they are in sync with each other’s goals.”
Share responsibilities, too. Though one partner tends to control the finances, advisers recommend rotating tasks. One person should handle investments for a certain period, while the other pays the bills; rotate and repeat.
Link Posted by Tim at September 15, 2008 07:09 AM | TrackBack