Why Stay Married To The “Financially Right” Person?

The quickest way to a financial downfall is divorce. Think about it: Besides the emotional turmoil, at best you split your money in half. At worst, you lose almost all of it through legal fees, administrative costs, excess living costs, alimony, and child support.

I always tell my wife that staying married to her is the main reason I was able to retire at age forty-five. Sure, I did well in business and followed my principles of money management.

However, thousands of executives who made more money than I still have to work to support their third or fourth family. Be happy with what you have. The grass is rarely greener on the other side.

Do your homework with principle 1.

Make sure your spouse is frugal, shares the same “money philosophy” as you, and understands that marriage is forever. Have honest discussions about your financial life throughout your marriage.

By this, I mean write down and talk about your monthly budget, net worth, financial problems, opportunities, and future financial goals.

These need to be ongoing discussions—not once a year, but monthly or more often.

This thought process will extend to other aspects of your marriage.

If you do this, you’ll be setting yourself up not only for financial success but also for an open, honest marriage.