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Money & Marriage: Ten Tips for a Power Meeting |
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Wednesday, 10 May 2006 |
“ ‘Honey, this looks much, much more expensive than it really was. I got such a tremendous bargain on this.’ When I hear those words, I know my goose is cooked and that the credit card bill will be a big one.” How many husbands have uttered these or similar words after their wives return from the shopping mall.
He wants a giant HDTV so he can put up his feet.
She wants no less than 50 pairs of shoes.
He wants the latest outdoor kitchen.
She wants the indoor kitchen remodeled.
He wants the Mustang GT so he can ride the road in style.
She wants the thoroughbred with riding attire and regular lessons.
Any one of these real-life scenarios can cause a family war.
What is really important about money to you?
Do you know what is important about money to your significant other?
Do you know WHY it is important at this time?
How important will financial security be when you are in the last third of your life?
In the last third of life you will have experienced the trials and triumphs of family life. You will have been pulled into the demands of the day. But in the last third of life, it is less likely you will continue to make the peak income of your career years. It is more likely you will have some health issues. As you add years, you will add vulnerability.
Do you have a strategy that will give you strength for your vulnerable season? A strategy that is adaptable, pro-active, and proven to work in hundreds of different scenarios?
Your strategy may not include the old-age idea of retirement---instead you may choose to work part-time, advise or consult or engage in some long-desired activity that you put off until later life.
But whether you are male or female, you will need financial resources. And whether you outlive your spouse or not, you never want to outlive your assets.
If you are reading this now, it is probable that you need to make an actual meeting time with your significant other and place on paper the ideas that you SHARE IN COMMON about money and your marriage. And if you want to live happily ever after, NOW IS THE TIME to secure your MEETING OF THE MINDS ABOUT MONEY.
According to a financial advisor friend of mine, money is only a tool, but it allows people to live in alignment with their most deeply held values. This makes it a powerful emotionally charged subject.
Here are ten key things to discuss at your Money Meeting:
1.How important is money to you?
2.Why is it important?
3.What do you want to do, achieve, be, or realize in the Best Third of your life?
4.How much money will it take to do that, or be that, or have that?
5.Where will this money come from?
6.Do you have a will?
7.Do you have medical power of attorney?
8.In the event of an emergency do you know how to access the assets of your significant other?
9.Are all of your financial records in reasonably good order?
10.Finally, when you successfully manage this meeting with each other, make another time and date certain for the next meeting…and keep the communication open around this highly charged subject that is at the core of your life, whether or not you recognize it.
Resource Box:
Simone Nathan Author of “Going for Gold after 50: An Illustrated Guide to High Probability Investing for The Plus Years”. Discover how to put the investing odds greatly in your favor at http://www.goldafter50.com
Personal, spiritual, financial, healthful life planning—http://www.dreamcatcherprogram.com |
