My friend and financial expert Farnoosh Torabi joins me to answer a relationship & money question from a listener named Janice.⠀⠀
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Janice is engaged, and she calls to ask: Should she get married?
She earns double what her fiancé makes. She has no debt except her mortgage. Her retirement accounts are well-funded.
He makes half of her salary. He’s carrying $20,000 in credit card and student loan debt. He has two children from a previous marriage and pays 25 percent of his income to child support. He has zero retirement savings other than his state-funded teachers pension.
They’ve been together for 8 years and engaged for three. But she’s unsure about whether or not she should walk down the aisle.
Should they get married? Is this a smart financial decision?⠀⠀
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Farnoosh and I both tackle this question together — and we disagree on some points, which makes this conversation better!!
Farnoosh is the bestselling author of When She Makes More, a book that takes an in-depth look at households in which the woman earns more than the man. She hosted a primetime show on CNBC, makes regular appearances on The Today Show and Good Morning America, and writes a monthly financial column for O, The Oprah Magazine. She’s a former reporter for Money Magazine.
She’s the perfect guest for a conversation about relationships, marriage, money, debt, family.⠀
Enjoy!
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Wondering why this did not show up on my Apple Podcast stream?
I feel like all funds once married aside from retirement funds should be joined to one account and then Parceled out to each person for discretionary expenses .all other expenses should be agreed on an paid out of the single account or which may mean moving portions to saving accounts each month
Great Show I really Loved this episode! Especially when you kept it Real! " Hell No". Lol