The topic of pooling finances together is one that every married couple has probably discussed at some point. But maybe the topic should be less about how couples can store money together and more about how couples can make money together. Shrewd joint investments can enhance your married life in several ways:
Nowadays, it’s far more common to live together before marriage, with studies suggesting that 70% of newlyweds are already living together. But if you’re not already sharing ownership of a home, your first investment as a married couple might also be your first home.
One of the best investments you can make as a newly married couple is investing in a family home for your post-marriage life. That’s because benefits go far beyond return on investment, although investing in real estate is generally considered the safest long-term investment.
But as well as being safe, passive and profitable, owning your own home together is generally seen as an important step in your journey together and can potentially bring you even closer to your partner.
Owning your own home might’ve already been ticked off pre-marriage, or if you’re residing in the pricey heights of London or LA, maybe it’s more of a long-term goal. Whatever your reason, if you’re not interested in investing in a home with your spouse, there are still plenty of other options.
A nice way for an investment to double as a sentimental item is to consider a high-value collectible as a wedding gift from yourselves, to yourselves. Items like wine, movie memorabilia and fine art can all take pride of place in your home while increasing in value by the day.
Stocks, bonds, ETFs - this is probably more what comes to mind when people hear the word investment. Joint brokerage accounts allow 2 people to invest in financial assets together. While this type of investing can seem the most complex if you have no prior experience, the benefits include being able to set aside as much or as little as you want, going as high or as low risk as you desire and also being able to target short, medium or long term investments to suit your goals.
This is great if you want your investments to align with a specific time goal such as saving for a house, the arrival of a baby or a child’s tuition fees. On the flip side, make sure you know what you’re doing when it comes to investing in financial securities. Fraud in this area is rife and you don’t want to spend your honeymoon searching for investment fraud attorneys!
© 2024 Created by Christine Dyer.
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