How to invest together:
- Start with a conversation about your investment goals.
- Define success for each goal.
- Build an investment strategy for each goal.
- Use education and a neutral third party to handle disagreement.
We need to talk about investing. As with most relationship decisions, communication is essential to successfully investing together. In fact, “open and honest communication (about money) may be the key to happiness,” says Jason Thacker, head of U.S. deposits and consumer payments at TD Bank. According to TD’s 2018 Love and Money survey, 80 percent of couples who characterized their relationships as “extremely” or “very happy” talk about money at least weekly, he says.
“Investing should be a joint venture with both spouses feeling like they have an equal say,” says Michael Landsberg, member of the American Institute of CPAs’ Personal Financial Planning Executive Committee. “There are synergies to be had when combining forces so take advantage of those potential benefits.”INVESTING IS AN emotional seesaw.
- Define what success looks like.
- How to invest together.
- Investing is an emotional seesaw.
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