Separate Accounts vs. Joint Goals: What Works Best?

In the Trust the Plan Podcast, hosts Nick Hopwood, CFP® and Jim Pilat, CFP® delve into the changing landscape of financial arrangements among married couples, questioning whether pooling salaries is becoming less common.
They discuss the trend of maintaining separate bank accounts and splitting expenses based on income, highlighting how this can create divisions rather than unity.
Advocating for a unified approach, they assert that merging finances fosters collaboration and alignment of goals, transforming “his and hers” into “ours.”
By working as a team, couples can enhance their financial success and strengthen their partnership, reinforcing the idea that together, they can achieve more.
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