Should a married couple have individual retirement investing plans?

[F M All]

On top of that, my parents would disown me if I left her (since they probably like her more than me), so she's sitting pretty atm.

Hey Az, there are some here who like her more than you, too.

 

[mathjak107]

im very proud of how much my wife learned about the markets over the last few years. she literally went from not a clue and buying tech funds from her savings bank as an investment for a widow to having a good idea and handle on all our investments. she even has a grasp on all the econimic events and what they mean.


NOT BAD FOR A GIRL!

 

[mathjak107]

For us the transition of our portfolios when we got married 1-1/2 years ago was rather easy. i had my newsletter i was following for years and she had a big mish mosh of everything anyone sold her.

we sold off her stuff and replaced it with the identical funds i had. i had a lot of money in retirement plans, she had alot of money in taxable accounts.

we gradually refined the portfolio where i sold off the stock funds and she bought them in her taxable account. i replaced them with the bond funds and high dividend paying stocks or funds with higher turnovers. took a while but we finally have created a joint portfolio that functions as 1 unit.

 

[Caroline]

What if your survivor had no clue what a mutual fund even was?

My mother (83) just lost her wallet. She was carrying around her social security card at the time (!!!!) along with ID, $250, etc. etc.

She immediately went down to her credit union, where she holds her checking, savings, and credit card accounts, and "the nice folks at the credit union fixed everything" for her.

I asked if they'd called Equifax, etc. etc. and put a freeze on her credit record. Or if she'd got a police report so that I could do that for her. Or if she'd contacted Social Security for a new number.

Huh?

Twenty minutes later she still doesn't understand that folks who get hold of her information can steal her identity. If you asked her what a mutual fund was her eyes would roll back in her head. (In fact, I'm seeing her on Sunday. I think I'll try that and report back!)

I think we've all got to exercise our financial muscles regularly, or we end up unable to use them if and when they're needed.