Second Look Sundays – Nov 12 2017
NOVEMBER 12, 2017 AUTHOR: SHAUN
This week I recap how to have money conversations as a couple and why saving and investing are dramatically different
Welcome to this week’s edition of “Second Look Sundays” – a recap of my favorite money-related posts of the week. It’s a chance for me to lay-low for a day, and highlight some other fantastic folks!
Whether new, or just new to me, these posts caught my eye, and I wanted to share them with everyone.
Check back weekly to see what’s on deck!
By: High Five Dad
Read Time: 4-5 mins
Summary & Why I like it: In this post, Eric highlights the importance of having money conversations with your partner. He outlines five simple strategies to help make money less stressful in a relationship. I like how Eric addresses this issue head-on. Merging two sets of finances can be a very nerve-wracking process for many, and Eric gives some useful tips on how to make this easier. He also takes it one step further to help plan for the future. I really liked the idea of a “money vision.” Sure it’s important to be able to manage the day-to-day finances, but you also need to know where you’re working towards as a couple. Definitely a good read!
“A financial house built on a weak foundation is bound to collapse on itself.”
“As a couple create a money vision… She may want to retire in the city and you may want to a brand new boat. But it is better to create the vision NOW rather than push it off until later. This will get both of you on the same page financially which will assist when tough decisions come up.”
By: Half Banked
Read Time: 3-4 mins
Summary & Why I like it: First off, a lot of articles coming from Half Banked have a good ‘edgy’ joking feel, so it’s pretty hard to find a bad read. In this post, Desirae takes the time to highlight why saving and investing are very different. She sheds light on the fact that it’s much easier to reach retirement goals if we put our money to work (by investing) rather than storing it up (in savings). To be honest, it’s a very relevant topic everyone needs to hear! I appreciate how Desirae gives an honest perspective on how she started investing herself. I also like how she was genuine in addressing how it can be difficult to start, but that’s not an excuse not to! Overall, I think this is an excellent read for anyone who is new to finance.
“When you rely entirely on your savings to hit those retirement targets, of course it’s going to feel like an insurmountable number—especially in later decades, when that 1x multiplier turns into a 3x multiplier (hello, 40). But if you invest your money, it will do some of the work for you. (And it’ll do more work the longer you invest.)”
“Yes, retirement is scary, and hitting the “recommended” numbers is hard. That’s why you don’t have to start there—you just have to start.”
“It’s even more important that you invest your money if you’re not able to save gobs and gobs of money for retirement right now, and the earlier you start investing, the better.”
- The high cost of waiting to invest – why are you waiting?
- Learn how to pay yourself first and save more money