Marriage: How to Achieve Your Financial Goals

Are You Financially Compatible?

• Signed a pre-nuptial?• Know about personal finance?• Discuss money regularly?

Are You Financially Compatible?

• Discussed financial goals?• Who will handle money management? • Know partner’s money personality?

Are You Financially Compatible?

• Checked risk tolerance?• Know how marriage affects taxes?• Determined joint debt?

Are You Financially Compatible?

• Can you trim expenses?• Will you pay yourself first?• Established an emergency fund?

Creating a Budget

• Use personal finance software• List sources of income• Identify major expenses

o Record every expenditureo Cut back where necessary

• Monitor regularly

Protect Yourself with Insurance

• Life insuranceo Termo Whole life

• Beneficiaries

Protect Yourself with Insurance

• Disability insuranceo Deducted by state?o Offered by employer?o Purchase on own?

Protect Yourself with Insurance

• Health insurance• Auto insurance• Homeowner’s or Renter’s insurance

Distributing Your Estate

• Write a willo Determine who will get what assetso Name guardian

• Check estate-tax exemption

Distributing Your Estate

• Make annual gifts• Select an executor• Provide guide to important

documents

Distributing Your Estate

• Draft a living willo State acceptable medical

procedureso Appoint healthcare proxy

• Draw up power of attorney

Minimizing Divorce Expenses

• Hire an attorney?• Do it yourself?• Use a mediator?

Minimizing Divorce Expenses

• Divide your propertyo Community propertyo Equitable distribution

• Freeze joint accounts

Minimizing Divorce Expenses

• Notify credit card carriers• Close equity line• Request credit report

Minimizing Divorce Expenses

• Plan for retirement• Avoid tax traps

o Child supporto Alimonyo Capital gains

Minimizing Divorce Expenses

• Prepare a financial plan• Check insurance coverage

Searching for a New Job

• Review your financial status• Update your résumé• Improve your skills

Searching for a New Job

• Network• Check the ads• Don’t overlook the obvious• Rehearse the interview

Searching for a New Job

• Write thank-you notes• Have patience• Do part-time work• Become an entrepreneur• Reward yourself

Thank You!