Financial planning for divorce is smart. The reality is that a staggering proportion of first time marriages fail; approaching 50%. Thankfully there are several things we can do to prepare for this regrettable outcome: ensure retirement accounts are equally funded for both partners, title assets jointly, keeping career skills current, and being aware of your financial picture are great places to start.
The prenup’ was once the exclusive domain of the rich and famous but is increasingly being adopted by middle-income couples as a financial planing tool. If either partner is bringing sizeable assets to the union then it may be prudent to execute a prenuptial legal agreement to ensure an orderly decoupling of financial assets, as unromantic as that sounds. Kevin at Thousandaire produced this entertaining music video and makes no secret about where he stands on this issue. Enjoy!
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