Investing as a Couple

Your Financial Future

Whether you and your partner are saving to buy a home, saving for college tuition for the kids, saving for retirement or all of the above, the first thing you both need to decide is how to invest. If you're both market-savvy, then chances are you'll have no conflict beyond which companies to invest in.

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However, if one of you is a fan of investing and the other is more cautious, consider making the most of your existing investments. Contribute the maximum annual amount to your respective 401k plans and IRAs. If there is money left over in your investment budget, consider diversifying in a moderate way, with some money market funds and some stocks and bonds. A financial planner will be able to assist you in finding the right combination for the two of you.

When setting up a retirement program, couples need to consider a few very important aspects of their lives. Sit down with your partner and answer these questions:

1. What are your financial responsibilities now and how might they change once you are no longer working? Don't forget to factor in post-retirement health insurance costs.
2. At what age would you like to retire?
3. If you haven't already done so, will combining your assets increase your retirement benefits?
4. What kind of retirement do you both see for yourselves? A more active retirement will generally cost more.
5. What are the age differences between you and your spouse, and how will that affect your expenses between one's retirement and the other's?

Once you've answered these initial questions, consult your financial planner to work out a program that will suit your needs.

Couples who are considering setting up an investment program need to take a hard look at what they expect from their financial future. Finding the right investment program may not always be easy. Your best bet is to discuss investment options with a financial planner.

If you cannot agree on a joint program, you may consider investing your money in separate plans, but buying a house together instead. A home is an excellent investment for a couple, whether or not you are married. Most professionals recommend you and your partner draw up a legal partnership agreement that includes how much each partner will contribute to the down payment, what percentage of each person's income should be applied toward the mortgage, and who will pay for repairs, utilities, and other expenses.

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