Have you been married awhile? If so, find out what to consider when evaluating the short- and long-term financial goals you set earlier in your marriage.
This post goes out to all those crazy kids who have been married for decades.
Think about your spouse. Think about the ups and downs you’ve experienced as a couple. Think of what’s remained constant for the two of you over time. But also think of what’s changed.
You’re really not the same couple you were when you met. How you function together has likely shifted over time. And your traditions, beliefs, and ambitions have probably evolved as your marriage has matured. Considering any changes you’ve experienced, it’s helpful to think about how they could affect your short- or long-term financial goals.
To help determine how your approach to finances and investments may need to be altered, start with an open and honest discussion in a relaxed atmosphere (now’s the time to open that bottle you’ve been saving). Here are a few questions to guide you:
Once you have this conversation, check in on your goals regularly. Generally speaking, it can be helpful to re-evaluate them annually. This can become a milestone you commemorate together. (To help you remember, you might even set the discussion for the day after your anniversary.) The benefits of continuing to discuss your goals include:
By evaluating your situation and expectations, you can start creating goals that better reflect who you are as a couple—today and into tomorrow.
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