Ladies... See It In Writing!

Do you trust your husband to do the right thing?  I do.   That is probably why we are married. When we talk about health children or financial matters, he tells me it’s taken care of. That we are ok.  It will be alright. Those words are often reassuring.  But, you can’t take those reassuring words to the bank.  And, if some aspect of building a strong financial home got overlooked, those sweet words become meaningless.   I’m here to share, ladies it is important to take a proactive role in protecting your household.   There is no room for victims here.

Many of us women still have these old traditional values whispering in our ears.  Perhaps it’s a bit of the fairy tale. Prince charming will save the day. Perhaps it is not a romantic thought at all,  but rather conflict avoidance.  A recent article in the Washington Post on April 12, 2015, Titled “How Couples Can Resolve their Biggest Fights Over Money” By Andrea Coombes stated “Money is one of the biggest sources of marital discord – and it can be one of the toughest to resolve.”  Perhaps the desire to avoid conflict is causing woman to not knowing their financial picture or being as financially prepared as you might have assumed.

Women you need to know where you stand financially. Husband and wives both need to know the household financial picture. Here are some critical items to address:

1.  LIFE INSURANCE:  Do you and your husband have it? How much?  Who are the beneficiaries? And see it in writing.  Review once a year.

2.  RETIREMENT ACCOUNTS:  What types of accounts? Who are they with? Review statements regularly

3.  HEALTH, DISABILITY & LOND TERM CARE INSURANCE:  Who is it with?  Is the policy active and in good standing. Verify!

Don’t assume all is in good standing. Know for a fact.  Life can throw your financial home financial curve balls, better to be prepared and KNOW you are prepared.