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Marriage: How to Achieve Your Financial Goals Are You Financially Compatible? • Signed a pre-nuptial? • Know about personal finance? • Discuss money regularly? Are You Financially Compatible? • Discussed financial goals? • Who will handle money management? • Know partner’s money personality? Are You Financially Compatible? • Checked risk tolerance? • Know how marriage affects taxes? • Determined joint debt? Are You Financially Compatible? • Can you trim expenses? • Will you pay yourself first? • Established an emergency fund? Creating a Budget • Use personal finance software • List sources of income • Identify major expenses o Record every expenditure o Cut back where necessary • Monitor regularly Protect Yourself with Insurance • Life insurance o Term o Whole life • Beneficiaries Protect Yourself with Insurance • Disability insurance o Deducted by state? o Offered by employer? o Purchase on own? Protect Yourself with Insurance • Health insurance • Auto insurance • Homeowner’s or Renter’s insurance Distributing Your Estate • Write a will o Determine who will get what assets o Name guardian • Check estate-tax exemption Distributing Your Estate • Make annual gifts • Select an executor • Provide guide to important documents Distributing Your Estate • Draft a living will o State acceptable medical procedures o Appoint healthcare proxy • Draw up power of attorney Minimizing Divorce Expenses • Hire an attorney? • Do it yourself? • Use a mediator? Minimizing Divorce Expenses • Divide your property o Community property o Equitable distribution • Freeze joint accounts Minimizing Divorce Expenses • Notify credit card carriers • Close equity line • Request credit report Minimizing Divorce Expenses • Plan for retirement • Avoid tax traps o Child support o Alimony o Capital gains Minimizing Divorce Expenses • Prepare a financial plan • Check insurance coverage Searching for a New Job • Review your financial status • Update your résumé • Improve your skills Searching for a New Job • • • • Network Check the ads Don’t overlook the obvious Rehearse the interview Searching for a New Job • • • • • Write thank-you notes Have patience Do part-time work Become an entrepreneur Reward yourself Thank You!