Investors Shouldn’t Fly Solo If They Have A Co-Pilot

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One of my closest friends manages his family’s money.

His wife doesn’t know where their money is invested. Nor does she know how it’s invested. She claims she doesn’t care.

I’ve spoken to many financial advisors who say that’s common.

Men know more about money. That’s according to the 2012 study, “What Explains the Gender Gap in Financial Literacy?” 

Men talk more about money. And, according to a Pew Research study, they read more about it.

So, should married men have control of the investments? 

Image by Pixabay

Read the rest of the article at AssetBuilder.com





Andrew Hallam

I’m a financial columnist for Canada’s national paper, The Globe and Mail, as well as for AssetBuilder, a financial service firm based in Texas. I’m also the author of Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School (2nd Ed. Wiley 2017) and The Global Expatriate’s Guide To Investing: From Millionaire Teacher to Millionaire Expat (Wiley 2015). My mission is to educate, motivate and inspire people on basic retirement planning and best practices for investing, using evidence-based strategies. I’m happy to comment on your questions. However, please read the Terms of Use, Privacy Policy and the Comments Policy.

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2 Responses

  1. RetireJapan says:

    My family definitely had this situation. I got into personal finance first, and my wife wasn’t particularly impressed with my ‘cut spending and save large proportions of our income’, even though she is fairly frugal naturally.

    I try to sit down with her and explain what we’re doing every couple of months or so. She’s still not particularly interested, but has come around and now agrees with our direction. Baby steps!

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