Home Financial Advice #503: Q&A: “My Husband is Not Dependable with Cash. Ought to We...

#503: Q&A: “My Husband is Not Dependable with Cash. Ought to We Cut up Funds?


Paula Pant - aboutLindsay’s husband struggles with a psychological incapacity. She’s fearful concerning the impression on her household’s funds. How does she keep concord in her marriage and shield her youngsters’ future?

An nameless caller is stoked about her younger nephew’s curiosity in saving for retirement. What’s Paula and Joe’s recommendation for a teenage saver?

Following up on a dialogue from episode 494, Melanie has thrilling information to share about automating ETF investments at Vanguard.

One other nameless caller desires to get private about Paula’s private funds.

Former monetary planner Joe Saul-Sehy and I deal with these 4 questions in right this moment’s episode.

Get pleasure from!

P.S. Bought a query? Go away it right here.


Lindsay asks (at 01:25 minutes): What’s your recommendation to somebody who desires to cease sharing management of cash of their marriage to guard the household’s monetary future?

I’m 44 with three lovely kids and a husband who’s neurodivergent and self-admittedly unreliable with cash.

My husband is a phenomenal artist however makes a variable earnings because of his psychological incapacity. He will be extremely productive however typically he’s not succesful.

I make $104,000 a 12 months and on common, he makes $50,000 a 12 months. I’ve $40,000 saved in an IRA at Vanguard.

My firm’s 403b plan presents a two % match and I plan on ramping up my contributions to set myself up for retirement.

I need to separate our funds to make sure that the cash I’ve put away for myself is secure and can ultimately go to the youngsters.  How do I hold my household safe financially?

Nameless asks (at 30:29 minutes): My 15-year-old nephew just lately requested me if he ought to open an Particular person Retirement Account (IRA) and this was the happiest day of the 12 months.

He has a summer season job lifeguarding, and he’s able to open a Roth IRA for 2023 earlier than the tax submitting deadline.

My query is, the place? Constancy has a youth account for teenagers aged 14 to 17, however I’m unsure what occurs when he turns 18. Is it massive charges? We might at all times pivot then if we wanted to.

He’s additionally planning to ask his mother and father the place they make investments, so possibly he can get a no-fee account there. However I don’t suppose he’ll earn sufficient to speculate the required minimal of $50 to $100 a month.

What’s your recommendation for us? Would a dealer let him open an account the place I’ve investments as his aunt? I’m so excited to get him began, however I need to begin him off on the suitable foot.

Melanie asks (at 49:18 minutes): I’m at present listening to episode 494 and somebody talked about that there isn’t a strategy to automate shopping for ETFs.

I need to let the listeners know that there’s a means via Vanguard with a pilot they only began. I just lately obtained an electronic mail invitation for it.

After clicking the hyperlink and logging in, I now have an choice to arrange weekly, month-to-month, or bi-weekly ETF investments. I arrange a month-to-month funding, and the primary transaction hit final week.

I set it up on a Monday to begin as soon as a month, and on Wednesday, it executed my commerce for VTI.

And so now I don’t have to consider it. No less than as soon as a month, some ETFs are going to be bought.

Nameless asks (at 1:01:36 minutes): Paula, given your latest life modifications and lots of accomplishments, I’m questioning for those who might discuss your private monetary planning targets?

Amongst different issues, you moved to New York Metropolis, accomplished a fellowship at Columbia, starred in a Netflix documentary, and continued to develop the Afford Something enterprise.

Some questions that come to thoughts are:

  1. How do you concentrate on private monetary danger at present? And is it totally different than what it seemed like three years in the past?
  2. Are you trying to develop your actual property portfolio right this moment? Why or why not?
  3. How are you shifting your broader funding portfolio over time, if in any respect?
  4. How and the place do you see your time, vitality, and focus allocations altering? And might you touch upon which of these modifications have been intentional?

I notice that these are deeply private questions, so be happy to disregard any and all of them, however I’d love to listen to what you’re desirous about nowadays.

Sources Talked about:
Episode 494: My Husband Makes Double My Earnings, However Saves Nothing! Ought to I Be Anxious? | Podcast Episode

listen to afford anything on itunessubscribe on android afford anything

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