A Few of the Finer Things - August 2016

This month I want to share something that I put on social media recently…it is a Raymond James piece titled, “20 Financial Things Couples Should Know.” It is about how having a solid understanding of your financial status is crucial to planning, budgeting and saving toward your goals. In most relationships there is one partner who is the dominant decision maker (or one who has more knowledge of accounts, passwords, information, etc.) when it comes to finances and investments. I have found that it is important for the other partner to have familiarity with some of the basics as well. When Debbie (now my wife) was widowed at a young age, she got a crash course in financial management as her late husband was the primary decision maker. Thankfully, she had advisors who helped educate her on what they had accumulated, what they owed and how she would handle things financially going forward. It is a much more pleasant experience when the surviving spouse has a basic understanding of a household’s financial affairs so he/she can continue somewhat seamlessly on the path to achieving financial goals. Having a reliable team in place (attorney, financial advisor, tax advisor) is highly recommended and as a critical part of this “team” I am always available to help. My annual Ladies’ Day events (coming up again this fall) are designed for this very purpose—as I tell my guests at each of these events, some of you are involved in your household’s financial affairs and some of you are not…there may be a time when you are going to be more involved and it is very important that we have the kind of relationship where you will have trust in me and what we are doing. This article has some good discussion topics and I hope that you find it helpful.

20 Financial Things Couples Should Know

- Gary Weiss, August 2016