Thursday, December 25, 2014

Best of 2015 in marriage finances: 13 money tips from US News


Great article with valuable marriage finances advice from US news - "The marriage effect"

Marriage has had a troubled history in recent decades, with about half of unions ending in divorce. Still, it survives and offers financial advantages over remaining single. For the 70 percent of people who will be married at some point in their lives, financial advisors say there many ways to benefit from the power of two. Here is a list of their best financial advice for married couples.

Talk openly about money even before you marry.

 Marriage has had a troubled history in recent decades, with about half of unions ending in divorce. Still, it survives and offers financial advantages over remaining single. For the 70 percent of people who will be married at some point in their lives, financial advisors say there many ways to benefit from the power of two. Here is a list of their best financial advice for married couples.
 
Define shared goals“You talk about building a life together – buying a home, having children, their college education and how you will protect each other’s health care and retirement,” says Diane Pearson, personal chief financial officer of Legend Financial Advisors Inc. “Financial planning might not be romantic, but there is some peace of mind in sharing the same goals.”


Stay in harmony with your shared financial plan.
“A financial plan is just the starting point. Life happens and you need to make adjustments,” Gabrielsen says. A financial plan can serve as a reminder of what your big goals are and how to reach them. Financial planners can also act as intermediaries on tough financial questions.


Read 9 more points at US News


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