Years ago, when Annette and I bought our first boat, we both took the coastguard safe boating course. While I grew up around boats and was comfortable operating them, this was the first time Annette would have the opportunity to operate a boat.
She wasn't interested in operating the boat that much, but it was important to me that she learned the basics so that, heaven forbid, if something ever happened to me while we were out on the water, she would be comfortable enough getting back to shore.
What does this have to do with the single biggest money mistake couples make? Way too often, I see one spouse being responsible for the money and investments, which is understandable. Divide and conquer kind of thinking.
Annette and I even do this to an extent, but the danger is you want your spouse to have at least a working knowledge of what's going on with your finances if, heaven forbid, they one day have to take over temporarily or permanently.
If you aren’t actively involved in your investments, the first thing you should do immediately is make an appointment with your financial advisor to go over everything in a way that you would.
Making sure both of you and your spouse know the basics of your financial situation will move you one step closer to experiencing your version of an incredible retirement, doing what you want when you want.