Four Keys to Financial Success for Couples


When it comes to finance and investing, there are some general rules for couples to follow to achieve stability, happiness, and long-term success. These rules fall into four areas: saving and investing future, day-to-day management, emergency and estate planning, and emotional support.

On the topic of saving and investing, the most important thing you can do as a couple is establish common goals and priorities. Whether those goals are saving for your first home or investment property, your childrenís education, the business youíve always dreamed of owning, or retirement, it is vital that you both be in agreement as to the level of precedence for these goals and that you adjust your spending and saving habits accordingly.

Next is day-to-day management. If you notice that one person tends to be better at keeping track of expenses and financial records, it is ok to have that person handle the payment of bills, but you should plan to meet at least monthly to discuss your financial goals and progress.

When it comes to emergency planning, you should always make sure that you have a cash reserve and adequate disability and life insurance to replace any loss of income for your household. Additionally, each person should know where important information and documents are held including account numbers and contact information for your financial advisors. In the event they are needed, each spouse should be able to easily access all financial statements, safe deposit boxes, and insurance and trust documents. Too often emergencies happen where one partner is forced to take over the coupleís finances and is totally ill-prepared. Donít let this happen to you.

On the estate planning side, most couples should opt for living trusts over wills to save on estate taxes and speed the distribution of assets to heirs by avoiding the long process of probate.

Lastly, when it comes to emotional support, you should always strive to encourage your spouse and their dreams. If they are experiencing problems, rather than being negative and belittling his or her efforts, it will be more fruitful to figure out ways to support their dreams and make them a reality.

Remember, every person deserves a better life and the love and support of those they care about most. So, operate from a unified front and take these important actions today to secure your familyís future. Those who share common goals and objectives will always achieve more.


About William R. Patterson

William R. Patterson is CEO of The Baron Solution Group, a Top 100 MBE. He is a four-time award-winning lecturer and international best-selling author. He has shared the stage with billionaires, presidents, and Fortune 100 CEOs. William is an internationally renowned business and wealth coach who has created over 150 products and has been a featured guest on over 500 television and radio programs. He delivers solutions to millions worldwide — from individual investors and small business owners to corporate boards and CEOs. William’s breakthrough book, "The Baron Son" has been translated around the world and featured in the Forbes Book Club. He is winner of over twelve Web awards for excellence including: Best Wealth-Building Site; Best Business Advice & Development Site; Best Author; and Best Speaker and Lecturer. For more information visit, | Google

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