Community Chat

[gertrudecloset]

I am of the firm belief that if you don't read ~ you won't learn anything.  This is especially true for subjects you're not familiar with.  Read.  Read.  Read.

Borrow from the library or listen to books (audible).  There are various schools of thought about finances, but the basics (everyone should know).  There are sources on TV for one to begin to understand the jargon used in financial circles.  The Financial Times and Wall Street Journal are excellent sources to begin to read on a daily basis.  If you want to learn anything new, you must READ.

It is no longer complicated to acquire the knowledge we need because the right sources are available with quick click of your computer. 

Good luck!

[gertrudecloset]

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@Porcelain wrote:

I do our taxes but DH and I share the other financial responsibilities. I try to keep things as simple as possible with them. Putting everything in a shared Google calendar helped a lot.

On the other hand. I will freely admit I don't know how to work our lawnmower and I don't want to learn because then sometimes I'd probably have to use it. I should learn...

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@Porcelainsame for me.  Actually, I did the taxes as well.  They weren't complicated and I never required an accountant or CPA.  If there was something that came up during the course of tax year that I was a little leery of, then I would have them done professionally.  This was rare, however.

I don't like things done on anyone else's time but my own!  LOL.  I don't like putting off things around the house too long either.  Sometimes you have to; but wherever I can, I take care of it expeditiously!

[gertrudecloset]

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@NEvans2 wrote:

It appalls me when women say " oh my husband takes care of all that." It's such a disservice to the other spouse, male or female, to not know what's going on in your own household. That's how my brother always did things. A couple years ago I told him he needed to sit down with my SIL and go over everything with her. God forbid anything would happen to him and she would be clueless. I asked my friend a year or so ago how much her water bill was after we had a price increase, and she didn't even know what it was before the increase. Another case of "my husband takes care of that." I pay the bills and my husband takes care of taxes and our retirement funds. But we both know what is going on. There are some instances where ignorance is not bliss.

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This!  I could never be this kind of wife.  I have to have a partner.....it strikes the right kind of balance for me. @NEvans2 .  Some women do let men do this and don't take the initiative.  It's not all his fault.

[PamfromCT]

One situation that I haven’t seen here is a husband who is retired and is heavily involved in the stock market.  Buying and selling, selling and buying.  That’s my DH.  Watches the investment shows, reads a good deal, and such.  If stocks go down a certain amount, they automatically sell.  We need this, as we are up in years and don’t want to risk long term losses.

I am interested to an extent, understand the basics, but I would have no interest in spending all this time and energy into this.  I applaud him, and we have done well with this.  But this is something he loves.  I would have to find someone I trusted to handle our investments if I were widowed.  He has suggested a few firms to me.  

[Mom2Dogs]

@homedecor1   Yes, I understand what you are saying....our financial advisor is rated #1 in the state and both DH and I watch things (our money) closely.

When we have a financial meeting with our advisors we ask lots of questions and we also have a meeting yearly that discusses how we will handle finances during retirement...our yearly budget is included and they show us how we will be spending down our money once we are not working.  So far we feel very comfortable, fingers crossed that continues.

I watched the Bernie Madoff docuomentary...I'm cautious, ha ha

[qualitygal]

I started this same thing about a month ago.  He figures one way, and I think I'd do it differently.  It is scary, I don't think it's hard, we just need to find a way to put the puzzle pieces together.  I think it has to do with how our minds work.  His is math, mine was more English, on those lines.  So, gather the information, and translate to how you understand it.  But yes, ask questions while you can, I always think, if he's in the hospital and tending to the bills totally drops on me, I need to know this stuff.  I know it's our responsibility, I've had to help twice in the family in this area, time for me.