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Navigating Financial Disagreements: Insights for Couples

Posted at 6:15 PM, Feb 09, 2024

According to a study by Fidelity Investments, a staggering 45% of couples find themselves in occasional money-related arguments. To shed light on this common challenge, Meredith Stoddart, Vice President of Education at Fidelity, recently joined Inside South Florida to discuss the financial disconnects that couples often face, including disparities in retirement savings and lifestyle choices.

Stoddart revealed key findings from the study, highlighting that about one in three couples experience misalignments on major financial goals, such as retirement savings targets, while one in four cite money as their biggest relationship challenge.

Despite these challenges, there is hope for couples to overcome financial disagreements by implementing proactive strategies. Stoddart emphasizes the importance of setting regular check-ins, actively listening to each other's perspectives, and collaboratively creating a shared financial plan.

To facilitate productive conversations, Stoddart suggests using conversation starters like discussing income levels, retirement plans, healthcare considerations, and budget allocations for lifestyle choices. She notes that among younger couples, priorities often revolve around saving for a home and planning for the financial responsibilities of raising children.

Fidelity offers a helpful checklist on their website to guide couples through these discussions, covering key themes essential for financial success.

Stoddart emphasizes the importance of recognizing that each couple's financial norms may differ, even among those with seemingly similar backgrounds. By embracing their unique experiences and perspectives, couples can create a new financial norm that leverages their diversity as an asset.

For more insights and resources on navigating financial conversations as a couple, visit Fidelity.com/Couples.

This Inside South Florida segment is sponsored by Fidelity Investments.

Inside South Florida

10:49 AM, Jul 26, 2019

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