Talking about money can be a difficult subject and even more so, with your partner. It can be a major hurdle to overcome without an easy flow of communication. In his latest column, Bill outlines the steps to achieve good financial health. He acknowledges that you and your partner may have grown up approaching money issues differently, which can create their own challenges. However, forming an emotional space where both of you can talk freely is the first step to success. “The big challenge is to move forward with this understanding, recognizing that although there will be differences, you still can create financial harmony.”
The Three Principles
1. Save for a rainy day.
Develop a long term financial plan.
2. Don’t put all your eggs in one basket.
Diversify in different asset classes.
3. There is no such thing as a free lunch.
Capture the entire return of each basket, or asset class, through low cost index funds.
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