Anonymous
My husband doesn't seem to see the value in investing, how do I go about convincing him that it's an important part of personal finance? Should I just invest without him?
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No, maybe you invest together. maybe he is afrai?
show him this chart:
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Rais M
27 Feb 2020
Accountant at SME
Communication is very important in a relationship. Have a chat with your husband on financial planning. On how putting money in the bank have very low interest, whereas investing will give better returns.
Do note that you do not have to convince him. Just share with him your plan. If he agrees, great! You can do this together. If not, you can take the lead and invest, and share with him the outcome on a constantly basis. And when he see your achievements, he might even join you.
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Sharon
27 Feb 2020
Life Alchemist at School of Hard Knocks
Yes, you should just invest without him.
May I quote the words of Lorna Tan, the ex-Invest Editor for The Sunday Times:
https://www.straitstimes.com/business/invest/a-...
"A husband is not a financial plan.
Years ago, your grandma advised me not to be financially reliant on any man. Today, I offer you the same advice.
Be responsible for your own money management and equip yourself with financial knowledge. It is better to bite the bullet now, get over any fear of financial jargon and pick up know-how like budgeting, credit management, getting a basic financial plan, sorting out your insurance needs and planning for your golden years.
Remember that women generally live longer and usually the family savings are already spent on the children's education and husband's medical bills, with nothing much left after his death."
I'd think money going into your bank account is the best persuasion.
All the best!
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Tan Li Xing
27 Feb 2020
Financial Consultant at Prudential Assurance Company (Singapore)
Hi Anon,
I think it would be good to share with you spouse on the concept of inflation. Cause what ...
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Saving money in a bank account is a good habit but it's not enough to beat inflation. Investments allow you to generate higher returns and stay ahead of inflation. The first step towards starting is always the hardest but don't give up! Introduce him to simpler instruments like high yield savings account, SSB or even bonds before going straight into stocks.