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Money, Marriage, and Honesty

Honesty is the best policy. No matter what you are doing in life, no matter what is going on, being honest is the only way to go.  Couples fight about a lot of things, but money is the main issue dividing them. In fact, they fight more about money than they do about anything to do with the bedroom, according to a Money Magazine survey.

How can you stop fighting and start a mutually respectful understanding of each other and start building a future together? Start with being honest about money matters and talking it through with each other is the best way to make sure you are on the same page.

63% of couples think that their partner overspends in some way. This causes friction in a relationship, as one half thinks the other half is spending unnecessarily, and over time this could become a big issue. Being honest is not only about telling someone if you have done a bad thing, but it is also about being honest with your partner about things that are a concern for you so that you can confront them together.  Honesty goes both ways.

As a couple, you should be talking to each other and making sure that you are both secure financially as well as emotionally. However, according to research, less than half of the couples surveyed for the Fidelity Investments Couples Retirement Study say that day-to-day financial decisions are made jointly. This means that more than half do not make joint decisions at all about their money. 

Make certain that your communication with your partner is essential if you want to get ahead together and plan for a wonderful retirement together. Honesty about your money and your investments will bring you closer as you both plan for your golden years as a tea

IMPORTANT DISCLOSURES

Material contained in this article is provided for information purposes only and is not intended to be used in connection with the evaluation of any investments offered by David Lerner Associates, Inc. This material does not constitute an offer or recommendation to buy or sell securities and should not be considered in connection with the purchase or sale of securities.

To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law.  Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.

These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable– we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.

David Lerner Associates does not provide tax or legal advice. The information presented here is not specific to any individual's personal circumstances. Member FINRA & SIPC

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