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Ask Sallie: What’s Your #1 Piece of Advice for Married People? (Video)

By Sallie Krawcheck

If Sallie could give married people one piece of advice about money, what would it be? Hear from her yourself.


Sallie’s answer:

I think the most important money advice I can give is when you are in a relationship, please do not outsource the management of your money — oversight of the money, control of the money, etc, etc — to your partner or spouse.

If we women are married to a man, we tend to outlive him by six to eight years. And if we outsource the management of our money, when that money comes back to us, we have a negative surprise 74% of the time. That’s not random. These things just tend to end sort of unhappily.

So keep control of the money with your partner throughout your marriage.


Disclosures

© 2020 Ellevest, Inc. All Rights Reserved.

All opinions and views expressed by Ellevest are current as of the date of this writing, for informational purposes only, and do not constitute or imply an endorsement of any third party’s products or services.

Information was obtained from third-party sources, which we believe to be reliable but not guaranteed for accuracy or completeness.

The information provided should not be relied upon as investment advice or recommendations, does not constitute a solicitation to buy or sell securities, and should not be considered specific legal, investment, or tax advice. The information provided does not take into account the specific objectives, financial situation, or particular needs of any specific person. Investing entails risk, including the possible loss of principal, and there is no assurance that the investment will provide positive performance over any period of time.

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Sallie Krawcheck

Sallie Krawcheck is the Co-Founder & CEO of Ellevest. Her life’s mission is to help women to reach their financial and professional goals.