Marriage: How to Achieve Your Financial Goals

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Marriage How to Achieve Your Financial Goals
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Are You Financially Compatible?

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

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Are You Financially Compatible?

• Discussed financial goals?
• Who will handle money management?
• Know partners money personality?

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Are You Financially Compatible?

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

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Are You Financially Compatible?

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

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Creating a Budget

• Use personal finance software
• List sources of income
• Identify major expenses
• Record every expenditure
• Cut back where necessary
• Monitor regularly

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Protect Yourself with Insurance

• Life insurance
• Term
• Whole life
• Beneficiaries

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Protect Yourself with Insurance

• Disability insurance
• Deducted by state?
• Offered by employer?
• Purchase on own?

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Protect Yourself with Insurance

• Health insurance
• Auto insurance
• Homeowners or Renters insurance

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Distributing Your Estate

• Write a will
• Determine who will get what assets
• Name guardian
• Check estate-tax exemption

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Distributing Your Estate

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

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Distributing Your Estate

• Draft a living will
• State acceptable medical procedures
• Appoint healthcare proxy
• Draw up power of attorney

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Minimizing Divorce Expenses

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

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Minimizing Divorce Expenses

• Divide your property
• Community property
• Equitable distribution
• Freeze joint accounts

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Minimizing Divorce Expenses

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

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Minimizing Divorce Expenses

• Plan for retirement
• Avoid tax traps
• Child support
• Alimony
• Capital gains

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Minimizing Divorce Expenses

• Prepare a financial plan
• Check insurance coverage

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Searching for a New Job

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

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Searching for a New Job

• Network
• Check the ads
• Dont overlook the obvious
• Rehearse the interview

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Searching for a New Job

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

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Thank You!