Money Matters with Jim Doyle
Episode #5 – Money Doesn’t Have to be a Relationship Wrecker
What was the motivation behind this episode?
We’re taught from an early age that money is personal, it’s private; so, we don’t share. Most of us grew up in families where money was never talked about in a rational way.
After 30 years as a financial planner, it’s rare to find someone who says they were educated about money and investments at home, taught about the value of saving, or had a complete understanding of the family’s financial situation.
The emotional load that money carries is substantial. For many couples, money represents so much more than dollars and cents. It can be difficult to talk rationally about money, with openness and clarity as to each person’s financial vision and goals, when different money personalities are involved. Without knowing where to start, or having a framework for discussions, establishing a proper time and place to discuss important family wealth issues can be difficult and conversations can end up going nowhere. Sometimes families just need a little encouragement to develop healthy money conversations – fostering connection, communication, and objectivity.
We invite you to tune in Thursday, Jan. 9 at 5pm PT or Sunday, Jan. 12 at 7am PT on Joytv.
What is this episode about?
All too often, family wealth decisions are made by one person without input or feedback from others. Think your partner isn’t keeping financial secrets from you? You might be surprised. If you believe you’ve successfully avoided conflict by having your spouse handle all the financial stuff, we’ll explore some of the dangers of letting your spouse make all of the financial decisions.
Join myself and guests, Ida Harvey and Alyson Jones of Alyson Jones & Associates Inc. and Darrin Hotte of NewSolution Mediation, as we explore the significance of families and spouses talking openly about money, offering tips for healthy money conversations. Financial literacy rarely seems important – until a time of crisis, when we’re asked to make important decisions affecting our futures – with whatever financial skills we have.
The weekly television series Money Matters with Jim Doyle was created in an effort to encourage Canadians to explore some of the financial issues we help clients address throughout their increasingly complex lives.
What are we hoping will come out of this show?
When it comes to money, couples and families often accept an uneasy truce. Old habits die hard, but with a little work, couples and families can be enjoying so much more! Could it be time to start a new legacy – one of openness, respectful curiosity and a sense of sharing? You could be on the path to a richer financial experience!
On our next show we’ll be talking about … ‘Divorce & Money- The Unplanned Journey’, encoring Thursday, Jan. 16 at 5pm PT and Sunday, Jan. 19 at 7am PT.
Jim Doyle, Doyle & Associates Private Wealth Management, Investors Group Financial Services Inc.
This is a general source of information only. It is not intended to provide personalized tax, legal or investment advice, and is not intended as a solicitation to purchase securities. Jim Doyle is solely responsible for its content. For more information on this topic or any other financial matter, please contact an IG Wealth Management Consultant. Views of guest speakers may not be shared by IG Wealth Management.