Money, power and politics were some of the earliest reasons for marriage in Western civilization. Today those same reasons are among the leading causes of divorce.
“Interestingly enough, 60% of divorces are caused by money problems,” says personal finance expert Carol Pepper, author of The Seven Pearls of Financial Wisdom. “That’s the number one cause of divorce; it’s not infidelity, it’s money.”
And Pepper has seen plenty of it as an investment manager and adviser to families who have over $100 million in assets, which includes a role as portfolio manager with the Rockefeller estate, overseeing $1 billion in assets.
She explains that keeping track of your finances can be challenging, and when you add another person into the mix of bank accounts, bills, assets and investments, it could become an outright disaster.
On this Valentine’s Day, our Investing 101 series highlights four steps to successfully merge your money as a couple.
1. Maximize Your Incomes
“Once you’re together and you’re in love and you’re thinking like a team, really think about who’s the best person to earn money for the family,” says Pepper.Read More »from Merging Your Money as a Couple