How Couples Can Invest Together

by TTMK on September 15, 2013 · 0 comments

When it coms to money and couples, there are often different approaches each person might have.  One person might be a spender, and the other could be a saver.  One might want to live for today and enjoy every moment, thus buying whatever suits the present interest.  The other person might be afraid of being short of money when older, and might want to focus on living frugally today so that the future is more secure.

I guess you can generalize that I tend to be 25% in the first group, and 75% in the second group.  Life is to be enjoyed every day, and sometimes that means that – gasp – we actually have to spend a little bit! However, I tend to think that we can often find alternatives that are less costly in terms of how we spend our money, and frankly we have to take care of our needs first.  Not only our needs for today, but also our needs for the future.  After all, when we’re older and unable to earn as much as we can when younger – if able to earn at all – we’ll still have expenses.  Some of which, such as health care, will likely be a lot more costly than earlier in life.

So, we need to build wealth in order to have money for the future.  But back to that type couple I referred to earlier, where they’re on a different wavelength when it comes down to how to handle money.  What’s a way that they can work together to grow their nest egg together?

Well, one way is to invest together.  They say the family that eats dinner together is the family that stays closer.  How about, the couple that invests together is the one that stays closer?

Really, it’s important to build wealth, as well as be aligned on money decisions or at least be able to compromise on the choices that are being made.  Both have a chance to be accomplished with investing online.  Buying shares via a brokerage such as e*trade Australia or others could be a way to potentially accomplish both.

A couple could make decisions together, with the full transparency of going online to buy shares and build an investment portfolio.  With a joint account, everything one person does can be seen by the other.  Any trades are there to be seen, for the other person to observe.  This transparency keeps both people accountable to one another, just as online banking might do for paying day-to-day bills and discretionary expenses.

Of course, investments should be a part of a bigger plan for the couple.  Coming to an agreement or compromise on long-term financial goals is a great start.  From there, allocating assets appropriately to help set us up for progress is s next step.  Within that asset allocation will most likely be stock investments.  For this portion of a couple’s portfolio, the aforementioned online investing can be utilized as a step to jointly make decisions together that could impact their financial future.


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