Ask HTM - Deciding How Much ‘Fun $’, Prepping for Long Term Care, & Doubling Down on Employer Retirement Accounts #967
Apr 7, 2025
This week, the hosts tackle engaging listener questions about fun money for newlyweds and the best strategies for retirement accounts. They discuss the pitfalls of long-term care costs and how to secure assets. The conversation also navigates joint finances in relationships, offering tips on budgeting and communication. Listeners learn to balance enjoyable hobbies with financial responsibilities, all while enjoying a unique craft beer. It's a lively chat full of practical advice for managing money and enjoying life!
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volunteer_activism ADVICE
Managing Finances as Newlyweds
Combine finances and use a joint account for most expenses.
Maintain some autonomy with separate spending money or credit cards.
volunteer_activism ADVICE
Benefits of Combining Finances
Combine finances for shared goals, easy tracking, and transparency.
Consider separate credit cards for individual spending instead of multiple accounts.
volunteer_activism ADVICE
Determining 'Fun Money' Amounts
Discuss individual spending amounts and consider needs and expenses.
Don't aim for perfect fairness; find a balance that works for both.
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Let’s dive into the week with some fresh listener questions we have lined up for you! And don't just stand on the sidelines- if you have a question you’d like us to answer, toss your voice memo our way. It only takes about 90 seconds to record and you can find a step by step guide over at HowToMoney.com/ask . Regardless of how random or bizarre you might think it is, we want to hear it!
1 - As newlyweds, how do we decide how much money we each get to spend as fun money?
2 - Should I further invest with my employer provided retirement accounts or should I open my own?
3 - What assets are vulnerable to the high costs of a long term care facility?
4 - Does it make sense to commingle my emergency fund with money I use to fund my hobby?
5 - Why is there a difference between different brokerage funds that all track that same index?
Want more How To Money in your life? Here are some additional ways to get ahead with your personal finances:
Knowing your ‘money gear’ is a crucial part of your personal finance journey. Start here.
Sign up for the weekly HTM newsletter. It’s fun, free, & practical.
Find the best credit card for you with our new credit card tool!
Massively reduce your cell phone bill each month by switching to a discount provider like Mint Mobile.
During this episode we enjoyed a Bossy Blonde by Contrast Artisan Ales! And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money!
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