About 43% of couples who are married, in a civil partnership or living together only have joint accounts, according to a new survey
"Whatever is the right answer is the one that allows for the most harmonious relationship between two people along the way," said Jesse Sell, a certified financial planner and managing principal at Prevail Financial Planners in Stillwater, Minnesota.Make communication a priority
"This is the kind of topic that makes people feel vulnerable, maybe a little bit defensive, because nobody is perfect when it comes to finances," Staples said."Everybody has their own issues, their own fears." Many workers have a 401 plan or other employer-sponsored plans offered through their jobs. Individual retirement accounts, which can be opened independently of an employer, also do not permit joint ownership.
While couples may come into a relationship with their own investments, they should open a combined after-tax brokerage account to save for goals that are five or more years away, Weber said.