Despite claims of open communication regarding finances, many couples are unaware of each other's financial realities. Surveys show that over a third of couples can't accurately identify their partner's salary, while more than half disagree on retirement savings needs. Issues like hidden debts and undisclosed spending further complicate financial transparency. Experts warn that this lack of understanding can impede crucial financial planning for retirement and shared goals, highlighting the importance of discussing not just facts, but also long-term visions for financial success together.
About 50 percent of the couples I talk to don't know their combined household income and 90 percent of those with debt don't know how much they owe, said Ramit Sethi.
Nearly nine in 10 couples say they communicate well with their partner about money, and 94 percent say they are open about finances, but the reality is different.
Most important thing couples don't know about their partner is what their vision is of a rich life, and what their money will allow them to accomplish together.
The Fidelity survey found that more than a third of couples couldn't correctly identify their partner's salary within at least $25,000 of their actual pay.
#financial-communication #couples-finance #retirement-planning #financial-transparency #money-management
Collection
[
|
...
]