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Two isn’t better than one, it’s critical.March 12, 2019

As wealth advisors, when we work with couples it is a lot easier to have one point person on money issues. However, the other partner, no matter their age, needs to participate in discussions and decision-making. If they don’t, then two unfortunate consequences can occur:

  1. Couples that need to make changes to put them on a good financial path struggle to do so and watch their goals slip away;
     
  2. If the point partner dies, the surviving partner is left to learn and execute an estate and financial plan under duress and, once they understand it, they don’t like it.

Couples often think that the person who is most financially literate should manage their money — yet research shows why, especially as partners age, that’s a problem.

Read more about it in this New York Times article:

You’re the ‘Money Person’ in Your Relationship? That’s Problematic

Author: David Bauer
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Tags: Financial Plan, Personal Finance, Uncategorized

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Why Work with Nauset?

  • SEC Registered Investment Advisor
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Michael Lombardo President

Michael has over 20 years experience in the financial services industry as an investment manager, consultant and marketing manager. He is responsible for investment policy and portfolio management as well as financial planning activities.

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David Bauer Principal

David develops holistic wealth management and retirement programs for clients with a particular expertise in meeting the needs of financial services professionals. He is a member of the firm’s investment committee.

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