Renewing (and Re-evaluating) Your Financial Vows

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.

Print
https://tickertapecdn.tdameritrade.com/assets/images/pages/md/
2 min read

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.

A little financial pillow talk

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:

  •  How have your priorities changed? Depending on where you are in life, the most important things now are probably different than they were on your wedding day. Talk about what you currently want to focus on and determine if your everyday approach to finances aligns with those priorities.
  •  How have your circumstances changed? Maybe one or both of your careers hit a speed bump—or landed on a rocket launchpad. You may be caring for a child or parent with a severe medical condition. Or there could be a range of c’est la vie surprises that may influence your spending or investing.
  •  How have your dreams changed? In your early twenties, buying a little beach shack and spending your days surfing may have seemed like the ultimate way to retire. Thirty years, two ACL surgeries, and one harrowing Mexican adventure later, it may not be the dream you want to invest in. Make sure your long-term financial goals reflect the current vision you have for your future together.

Even goals need date nights

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:

  • Added motivation. Talking about goals makes them seem more real, and the more real they seem, the more willing you’ll be to achieve them by setting money aside.
  • Greater chance of success. You’re more likely to reach your goals when you discuss them on a regular basis, whether that’s monthly or quarterly.
  • Easier course correction. Regularly monitoring and talking about your goals can give you an earlier indication that they’re off track or need to change.
  • A better connection. Continuing to talk about your goals—and reaching agreements about them—can be another way of strengthening your marriage.

By evaluating your situation and expectations, you can start creating goals that better reflect who you are as a couple—today and into tomorrow.

Call Us
800-454-9272
adChoicesAdChoices

Market volatility, volume, and system availability may delay account access and trade executions.

Past performance of a security or strategy does not guarantee future results or success.

Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses. Options trading subject to TD Ameritrade review and approval. Please read Characteristics and Risks of Standardized Options before investing in options.

Supporting documentation for any claims, comparisons, statistics, or other technical data will be supplied upon request.

The information is not intended to be investment advice or construed as a recommendation or endorsement of any particular investment or investment strategy, and is for illustrative purposes only. Be sure to understand all risks involved with each strategy, including commission costs, before attempting to place any trade. Clients must consider all relevant risk factors, including their own personal financial situations, before trading.

This is not an offer or solicitation in any jurisdiction where we are not authorized to do business or where such offer or solicitation would be contrary to the local laws and regulations of that jurisdiction, including, but not limited to persons residing in Australia, Canada, Hong Kong, Japan, Saudi Arabia, Singapore, UK, and the countries of the European Union.

TD Ameritrade, Inc., member FINRA/SIPC. TD Ameritrade is a trademark jointly owned by TD Ameritrade IP Company, Inc. and The Toronto-Dominion Bank. © 2018 TD Ameritrade.

Scroll to Top