“A Man is Not a Financial Plan”
When I say ‘A man’s not a financial plan,” besides quoting the great free bumper sticker available from WIFE.org, I am not saying I dislike men. I have been happily married for more than thirty-five years and have two great sons. I AM saying that your financial plan is your individual responsibility and that you may not wait for a prince or your daddy to lift this job from your shoulders. and I have been married for more than thirty-five years but unless we ‘go through the Stargate together’ ( which is our silly way of saying we hope to die together), one of us may predecease the other and other marriages may end in divorce.Talk about money- You need to know what’s going on and bring your views to the joint money table. Different attitudes about money are important to share and help provide better security for both of you. You see things differently, and those views are each helpful.Map out your money plan- Make a budget for how the money is spent today and a plan for where you’ll live in retirement, how much your income will be at the phase of your life, and get your legal documents in place so that when trouble comes, you will be more able to manage the pain.Set priorities- Speak your mind about what’s important to you about money. Communication is not a perfect medium so use various approaches to make your point heard. Be willing to compromise on issues on which you feel more flexible. Examine your attitude to check for fear and try to operate in good sense and not too much emotion.Credit in your name – make sure you know how the family credit is used and have credit in your name. I have told you stories of rich and famous who have been ignorant about their money suffered badly because of that error. Please learn from their mistakes! And for a free bumper sticker or an electronic newsletter sign up at www.wife.org. Citation:My book, Real Deal: Making Big Changes with Small Changehttp://www.wife.org/man-is-not-a-plan.htm Marion R. Syversen, MBA – PresidentNorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out our website that includes weekly streaming videosWWW.NorumbegaFinancial.com Voted Bangor’s Best Financial Planning Firm 2008, 2009 & 2010 by Market Surveys of America In compliance with requirements from FINRA, all e-mail sent via the WSFG domain will be subject to review and archiving by Wall Street Financial Group, Inc. Email management, archiving & monitoring technology powered by Smarsh, Inc. Disclosure:Only securities and advisory services offered through Wall Street Financial Group, Inc. Registered Investment Advisor. Member FINRA/SIPC. Wall Street Financial Group, Inc., Norumbega Financial and all other entities listed herein are separate entities, independently owned and operated.