By Sean F. Gates, CFP®, CLU
As a newlywed financial planner, Sean dives into his advice for Foolish couples out there that are looking to tie the knot. He brings his personal life lessons to the table, along with stories from the trenches of advising married couples over the course of his 12-year career as a planner. (See Seans's Bio)
SEAN’S TOP ADVICE INCLUDES
- Strategic visioning of short-, medium-, and long-term goals with your partner.
- Sharing financial details, discussing values, and exposing skeletons in your closet.
- Leaning in to prenuptial agreements
Please note that Sean is not a lawyer and neither he nor Motley Fool Wealth Management can provide legal advice. Couples should seek formal legal advice when considering a prenuptial agreement.
TOP MISTAKES SEAN HAS SEEN IN MARRIED COUPLES
- Letting either person be “the finance person”
- Combining finances too aggressively
- Leaving women out of the investing conversation
- Book “Prenups for Lovers: A Romantic Guide to Prenuptial Agreements”
- Book “I Do, You Do… But Just Sign Here: A Quick and Easy Guide To Cohabitation, Prenuptial and Postnuptial Agreements”
- Finding a financial advisor to facilitate money conversations – search for a CFP® Professional, and filter by the specialty “Planning for Couples”
- Automated budget tools for tracking such as mint.com, ynab.com, personalcapital.com