Congrats on getting married—and on all those wedding checks you might have received from your very generous, loving wedding guests! Whether you received monetary wedding gifts in the form of personal checks or a cash fund, it’s an incredible blessing to feel like you’re starting your new life together with a little financial cushion. So what are you and your spouse going to do with all of that sweet wedding cash? While splurging on a high-end honeymoon will never go out of style, making smart investment choices early on can set you and your spouse on the road towards financial security for life. Consider investing at least a portion of the money you received from your wedding into an account that you can grow together towards your shared, long-term financial goals.
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Combining your finances with your soon-to-be spouse? You might not have considered what that will mean for your investments. Don’t worry, though, our friends at SoFi are here to make sure you and your partner are on the same page when it comes to investing. Whether you’re both novice investors, or one of you has been stashing cash in a retirement account while the other focuses on paying off their student loans, you’ll want to be open and honest about your investing experience.
And don’t be shy about discussing your financial goals as a couple. Do you want to retire early, or buy a house someday? Do you want to have kids, save for a six-month trip around the world, or both? At the end of the day, talking about why you want to save and invest is just another way of asking your partner: “Hey, where do you see us in five, 15, or 25 years? Now is the time to open up about your dreams, because investing can help you make them happen. If you want to take a mid-career sabbatical, say so! If you want to make sure your kids won’t have to take out student loans to go to college, verbalize that priority.
You’ll also want to discuss your relationship with investing. If one of you is incredibly risk averse, while the other is itching to take risks, that’s something you’ll want to talk about. There’s always a happy medium, and a way for both parties to feel comfortable and confident in their investing choices.
Get the ball rolling with SoFi’s tips for effective investing as a couple here.
This is not an offer, or solicitation of any offer to buy or sell any security, investment or other product. SoFi can’t guarantee future financial performance, and past performance is no guarantee. Zola and its representatives are not affiliated with Social Finance (SoFi). Active brokerage products and services offered through SoFi Securities LLC, member FINRA/SIPC, Automated and advisory services offered through SoFi Wealth LLC, a registered investment advisor. For additional disclosures related to the SoFi Invest platforms described above, please visit www.sofi.com/legal. Zola and its representatives are not affiliated with Social Finance (SoFi).
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