A wife of noble character who can find? She watches over the affairs of her household and does ot eat the bread of idleness. Proverbs 31:10, 27
Statistically in America, about 85% of the time, a wife is going to outlive her husband. That's an important key to remember when developing an investment portfolio. A wife need to be trained in good money management and investment strategy.
Taken from the Investing for the Future calenday by Larry Burkett.
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Financial education for wife is sorely lacking in most households. Please learn about personal finance and family money management. I know of some cases in which a deceased husband’s life insurance proceeds was spent by the wife in less than 2 years, and she becomes destitute because of lack of financial knowledge.
1. Must have a will, durable power of attorney, and a living will (get a cheap WillMaker software, and do it yourself.
2. Should create a will data form in which all pertinent financial data are listed - including insurance benefits, retirement benefits, disability, health insurance, bank/investment accounts, Social Security, etc.
3. Check all the benefits/insurance beneficiaries. You don't want the benefits going to his ex-wife.
4. Have a good financial advisor whom you can trust implicitly. Don't hire a family or relative unless he/she has no vested interest in your finances.
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