Love & Money

When I am asked what is the secret for a strong happy marriage. I always answer that for more than 20 years I have found that sharing values, respect and trust are often key ingredients. Over time a willingness to plan and share our lives has deepen our relationship.

Serious relationships should include open and honest discussions about credit, debt, income, retirement, savings along with a serious conversation about family & career plans. They should also include a healthy participation by both in family finances. Since there is NO BLISS IN NOT KNOWING I would encourage you to begin these conversations by reviewing each other’s credit reports. Begin healthy financial communications before you solidify your social contract with each other.

You can obtain each agency’s credit report, and

Long before you say “I DO” ensure that you really do accept each others past, present and future behavior around money.

Communication is critical in any relationship and failure to discuss finances is at the core of many failed relationships. It is a huge red flag if you are both ready to join your lives and yet are not able to discuss and plan for your lives together.

If you need assistance consider a third party which may be covered by your benefit plan at work.

Edi Alvarez, CFP®

Begin 2010 with a plan in mind!

2010 has begun and you should have received our annual financial planning calendar.

You should review the calendar adding your own important dates and family target dates. Post it somewhere that will be visible daily. This will help you enjoy the inspirational views from around the world as well as regularly target you and your family to think of the financial consequences of our actions.

Don’t forget to mark your personal financial review/planning times as well as your family meetings. We recommend that financial family meetings be set quarter or semi-annually. Allow for enough time to prepare your financial data for these family financial planning meetings.

Engage our help if you need a third party to run or coach you to run these family meetings.

I encourage you to focus on your career, family life and worthy causes with a solid financial plan/structure for you and your family. Although we live in an interconnected world it is up to us to ensure that we keep moving towards our goals and dreams.

Edi Alvarez, CFP®