Communication, compromise are keys when couples invest

For an individual, investing well takes time and effort. But investing as a couple has additional challenges.

For an individual, investing well takes time and effort. But investing as a couple has additional challenges.

In an ideal world, couples would agree on investment goals and how to reach them.

In reality, that is rarely the case. One partner may want to invest aggressively, while the other is more risk averse.

For couples to get maximum benefit from their investments, it’s important to try to resolve differences early in their relationship. Here are tips to help achieve this:

It’s hard to make an investment plan if you don’t know what you’re investing for. So the first step is to agree on goals as well as the priority and time frame of each one.

For example, your partner may want to retire early and move to a warmer climate, while you want to advance in your career, even if it means delaying a move until much later. Coming to a general agreement on these issues can greatly simplify deciding how to invest.

Couples need to ensure each of them understands why their money is invested in a certain way.

This can help minimize blowback if investment choices don’t work out as anticipated. (No one likes to hear “I told you so.”)

The good news is that investing doesn’t have to be an either/or situation. A diversified portfolio should have a place for conservative and more aggressive investments.

Another reason for both having a clear understanding is that each may have to assume responsibility for the portfolio.

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