We (DW and I) both came from disastered previous relationships. We each kept checkbooks and savings separate, and split the bills. Now, I maintain most of the investing, but decisions are joint. She has the business and finance degrees.
My situation is similar - except for that "young" part.I'm still young but nevertheless most likely to depart this life before she does, and you can imagine how worried I am about her post my departure. Anyone have any ideas to help motivate her?
I try at least a couple of times a year, but my DW really doesn't want to know the details, and is happy to leave it all to me.
I maintain a file on my computer called "Open on my death" that contains many pages of detailed information and instructions.
I handle investing and budget variance tracking, DW handles checkbook, bill paying, bank statement reconciliation.
I recently wrote an investment policy statement for the same reasons. If something should happen, I wanted DW or DD, or even DGrandD to have a clue on finding a way to follow the asset allocation plan and avoid the sharks and shoals. Reading the directions and staying away from fakir fiduciary friend /brokers should be enough to take care of all my dependents.I am worried about her post my departure. Anyone have any ideas to help motivate her?
R
Judging by your avatar, you are quite the looker for a guy!My GF lives with me. Separate financial lives completely. I don't know her net worth. She does not know mine. Without getting into too many details, I give her a limited free ride, but it's all under my control. When I was married I was way too nice with the wife financially, which ended up being a main cause of the divorce.
Judging by your avatar, you are quite the looker for a guy!
Us too. I do the big picture stuff and DW handles the checkbook. Couldn't even tell you where it is. Seems to work for us. I can't handle th day to day stuff, and that's what she seems to want to do.
I have tried to explain our assets & investments to her, she gets the same look on her face as when trying to explain differential calculus to the dog. She pretends she's interested in hearing me speak, but really.....
I recently went through some major surgery so I had everything updated in THE BINDER - wills, trust, insurance, investments, etc... I tried to go over it with her and was getting the look again. I said "hey - you really need to pay attention to this stuff in case". She says "oh your so organized everything will be fine"
Several years ago I put a sarcastic remark on the first page of instructions of what to do "in case" in THE BINDER". - " if you're reading this I must be dead, because up to now you have shown absolutely no interest in our financial affairs". Still haven't heard any comment.