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Investing With Your Partner

Investing TogetherA Better Future Together

Planning now for you and your partner’s financial future is important. Investing can be a great way to build wealth if both of you understand the basics, make informed decisions and do the research.

Simply put, investing is putting money into a securities product with the expectation it will grow over time. However, you are never guaranteed to make money. There are several types of investment products, each with their own level of risk. For example, purchasing stocks carries more risk than a bond, meaning you may stand to gain or lose higher amounts of money with stocks than with bonds. To learn more about the different types of investment products check out A Beginners Guide, How to Start Investing.

With so many different products, knowing where and when to invest can be overwhelming. Keep in mind not every investment may be right for you and investing in products that are suitable, or appropriate, for your needs should be the top priority. When determining how you should invest, consider asking each other the following:

  • Why are you investing? Your reason for investing will influence the type of products you want to invest in. For example, as a couple you may be planning for retirement, saving for your child’s college, or for a down payment on a house. The most suitable investment product will differ based on each scenario.
  • How long do you want your money to be invested? Are your goals short-term or long-term? Some investment products like Certificates of Deposit (CDs) are designed for short-term investing whereas others like annuities are designed for long-term investing. Help your money work for you by making sure the product is suitable to your timeframe.
  • What is your risk tolerance level? Your risk tolerance level is essentially how comfortable you are with big gains and losses versus smaller gains and losses. You and your partner may not share the same risk tolerance level so be prepared to openly discuss and compromise investing styles.

Over time you and your partner’s investment goals, investing timeframe and risk tolerance level may change. Re-evaluate these questions on a regular basis and adjust your investment strategy accordingly.