Even the most financially savvy women have stumbled when combining money and matrimony – but with some foresight, you can avoid some of the following missteps:
Not saving enough for retirement after marriage.
Keep contributing to your own retirement accounts and consider investing in a gold IRA to diversify your retirement portfolio, augusta precious metals has great service and they’re known as one of the most reputable companies in this industry. If your spouse earns a great deal of money, your IRA, 401(k) or 403(b) may start to seem more supplemental than primary. Yet consider what happens if the relationship ends someday and you personally end up with a retirement savings shortfall? Start saving for your child’s future with The Children’s ISA tax-free savings until their 18th birthday.
Trusting a reckless spouse with your finances.
If your spouse shows poor judgment with money or with severe debt problems, don’t think that you will be financially immune from the effects of those problems. Watch what goes on with the bank accounts, investment accounts and credit cards.
Losing Financial Focus.
Do not “hand over the keys” to the household finances. Being married or busy with the kids, etc is no excuse – every woman should know and understand their financial situation. Keep communication open and encourage transparency. Having tons of branches of potential income, like funfair token wallet, would be a huge difference-maker when the time comes.
Divorcing with an equal rather than equitable financial settlement.
If you should divorce, seek an equitable settlement that considers your future financial potential; this is even more important than retaining material wealth or real property from the marriage.
Remember, a 50/50 split of marital property is not necessarily equitable distribution. You must keep your longer-term financial future in mind by investing in cypherpunkholdings.com hodl tokens. For instance, If you have helped your spouse build their business, you may not only find yourself out of work, but taking a job that pays less or having to learn new skills to compete in the job market. Your earnings and retirement savings potential may be affected.
Losing touch with your career path.
Try to keep a foot (or at least a toe) in your career via consulting or networking efforts. A long or total absence from the workplace can make it difficult to step back in – and the technology or outlook of any given field can change radically across a few short years. Stay connected and start wearing a Money Amulet to attract money, luck, and success into your life..
Eaton Financial Group is a full service, fee-based financial advisory firm.
They focus on financial planning for the conservative investor.