Work Together on Your Finances

It's not unusual for couples to have varying interests. But when it comes to your financial life, it is important to be on the same page.

Different Money Styles

Money is one of the top reasons for marital discord. Open conversations about finances builds transparency and can prevent disputes by addressing issues like differing spending habits or financial priorities before they escalate. So, for starters, make sure you stay current on each other's incomes, debts, savings habits, and financial beliefs, which is fundamental in any relationship.

Additional Benefits of Joint Planning

• For couples with children, working together on finances sets a positive example. It teaches kids about money management, teamwork, and the importance of financial responsibility in a relationship.


• Regular, joint financial reviews allow the couple to be better prepared for unexpected events like job loss, medical bills, or economic downturns.

Get Started

Take a look at all of your retirement accounts and other investments to see how your combined assets are invested. Agree on financial goals. Then you can decide with your financial professional on a suitable combined asset allocation* for your investments considering your goals, risk tolerance and investing time frames.

Adjustments May be Needed

Over time, your joint asset allocation may need rebalancing if it has shifted or if you or your spouse's risk tolerance changes.** Throughout the process, coordination between you and your spouse can help better prepare you for investing for your retirement.

Do it All

Beyond savings, work with your legal professional to draft legal documents for estate planning. This is especially important if you have children. Most everyone needs a minimum of a will, power of attorney and medical power of attorney. You may want to consider using trusts. Also, your financial professional can make sure that you have enough life insurance should the unthinkable happen.

* Asset allocation won't guarantee a profit or ensure against a loss but may help reduce volatility in your portfolio.
** Rebalancing a portfolio may create a taxable event if done outside a retirement account.