Ask Jenn: Separate accounts, saving money

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April 29, 2013, 12:04 pm
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(NECN) - Money between you and your significant other can sometimes be a tricky subject.     

Joining NECN to help us navigate through these potentially rough waters is Certified Financial Planner, Jennifer Lane from Compass Planning Associates.
The first question is from Melissa in Holden, Mass.
She wants to know about separate accounts in a marriage

Lane says that fewer accounts are easier to plan and deciding on all allowances can definitely help in the long run.
Jason in Sturbridge, Mass. wants to know how to get his husband to be willing to save money instead of spending.
She says that some habits are hardwired, to come up with a joint long-term goal and have monthly money meetings to stay on the same level.

Stephanie in Manchester, Mass. says her husband wants to take Social Security at 62, but doesn’t know how it will impact her.

Lane says it will impact both and won’t have as much yield as waiting for later ages. She says that retirement planning is key and so is finding how much one will need without the other there.

For more, watch the attached video

Tags: Jennifer Lane, taxes, finances, money, marriage, Social Security, accounts
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