Marriage Prep: Financial Planning for Your Future
By Azure Nelson,
Published Apr 1, 2010
Special to OneWed by Stephanie Schranz of Waddell & Reed
It seems like there is so much focus on planning the perfect wedding. The bride and groom want everything to be perfect and usually there is a budget that must be followed. While couples realize the importance of a budget for a wedding and try to remain on the same page regarding what is important for them to have at the wedding, the same isn’t always true after a wedding.
What comes after the wedding day is even more important. It’s important to sit down with a financial advisor who can talk to you as a couple and find out your goals and dreams. It’s easiest to start in the beginning forming a financial plan. While most couples may think of forming a budget to afford a car or house they want to purchase together, there also needs to be some thought to future goals. For instance, if you are interested in having children it is never too early to start planning for saving for college. Retirement may seem like a long way away, however, you may not be able to retire comfortably unless you start saving today.
Some important questions a couple should ask their partners include: Do we want to help pay for our children’s education? Do we want to send our children instate or to out of state colleges? Where do we want to retire? Do we want to plan on taking any trips during retirement? So while it’s important to ask each other what kind of car you want to buy together or where you should purchase a house, don’t forget the big picture.
A financial advisor sits down with couples to help them plan for their futures together. A financial advisor will ask you many questions, some that you may not even have thought of, to help you plan for your future together.
In closing, remember that the big day is only one day. However, you can start planning today for your lifetime together.
Best of Luck!
Stephanie Schranz is a financial advisor with Waddell & Reed. She is licensed to offer securities and investment advisory services in IL and can be reached at firstname.lastname@example.org or 630-245-1156 extension 130. For more information about Waddell & Reed, visit www.waddell.com.