Strategies for overcoming a spouse's bad investment decisions

I tell people we lost a huge chunk of money in the Great Recession, but it wasn’t the downturn that did us in. My husband made some incredibly poor choices. I’m embarrassed to admit that he absolutely refused to listen to me and stop the financial self-destruction until I grew a backbone. I told him I’d divorce him unless he stopped. He has mended his ways and we’re still together .

He’s now being very transparent and prudent about investing, but we’re still looking at an underfunded retirement and I’d like to maximize what we have. We’re both 71 and still working . Our home is worth about $800,000 and we owe $160,000. We have a rental nearby with about $100,000 in equity that pays for itself, but there’s no extra income from it. We have $210,000 in investments and $25,000 in savings with no debt.

I think more real estate would be a good investment vehicle for us, but we’d have to cash out some of our limited portfolio in order to purchase more. So instead, I make an extra principal payment equal to half the regular mortgage payment on each of the properties each month. I’m not sure if that’s the wisest thing to do, but I figure it’s still investing in real estate and will help us when we finally retire, sell and downsize.

Given all that, you may want to consider purchasing a single premium immediate annuity when you retire. These annuities offer a guaranteed stream of income for life, in exchange for a lump sum. This would be income that can’t be lost to stock market downturns, real estate recessions, bad investments or fraud.

That’s something to discuss with your planner, along with ways you can use your businesses to maximize your retirement savings. plans and traditional defined benefit pension plans.)

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Called divorce.

hey - fsuphil and MurphGolfer - if I wanted to send this article to your wives, how might I do that?

Divorce?

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Blackstone warns that stocks normally rally when bond yields invert, so recession still a risk'The yield curve never inverts when conditions are bad. It inverts when conditions are good,' Blackstone's chief investment strategist says. So blackstone caught short , thanks for warning ,close your short and keep your advice . If there is a rally during the so called inverted yield it means they don’t care. That’s correct ✅✅✅
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