Over the years, I've come to believe that learning to navigate financial discussions and events in a relationship is a "must" that transcends generations. However, recent data shows that Gen Z and Millennial couples are forging their financial path once again. In fact 43% of Gen Z and 31% of millennials say they prefer to keep their financial accounts separate from their partners' to maintain financial autonomy— And for many this may be what's best for their financial situations. However, this approach will almost always require extra structuring when considering investment, retirement, or estate strategies.1 Fortunately, the same communication lessons seasoned investors (and couples) learned in their younger days still apply when maintaining separate accounts. Here are some of my favorite time-tested strategies for maintaining open financial communication with one's partner:
Ted de Groot, Spurstone Partner |
Sources: |
Gen Z, Millennial Couples Prefer Financial Autonomy
February 22, 2024