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Bloomberg Businessweek

Overcoming Financial Anxiety to Build Long-Term Wealth

Jan 24, 2024
09:24
Snipd AI
Topics discussed include: strategies for a stress-free financial life, keeping finances separate for a stress-free marriage, the cost and value of college, understanding the Federal Reserve's influence, and asset allocation and diversification for financial security.
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Podcast summary created with Snipd AI

Quick takeaways

  • Keeping separate bank accounts can help couples avoid arguments over money and maintain individual control.
  • Carefully consider the return on investment before prioritizing expensive, prestigious colleges as networking opportunities may outweigh the benefits.

Deep dives

Financial arrangement with separate bank accounts

One strategy for a stress-free financial life is to keep separate bank accounts within a marriage or partnership. By keeping finances separate, couples can avoid arguments over spending and maintain individual control over their money. This approach has worked well for the author and his wife, who have never fought about money in their 26-year marriage. They simply use methods like Zelle to transfer money back and forth, based on agreed-upon contributions.

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