What advice to you give him?Feminists moms, your wealthy son comes to you for advice on financial matters about marriage?
Not a mom, but here you go:
=find someone who doesn't need your money
=never make money so important that you have to choose between it and the people you love
=never show your money to induce anyone to do anything, unless they are clearly working for you [be clear about who are your friends and who are your employees]
=never speak about your personal wealth with anyone except those who need to know
=have a modest wedding as a party for friends and family, not as a show for others to envy
=keep your wife happy, but make her responsible for managing her money wisely. teach her or provide her with education if she needs it. there may come a day when she will need to back you up
=always keep an emergency fund, about a years worth of expenses. keep a vacation fund as wellFeminists moms, your wealthy son comes to you for advice on financial matters about marriage?
I wish I'd been told by my dad that I was going to inherit stocks and a farm so I wouldn't have been so clueless about managing it (I ended up selling it 3 years ago but regret it a bit now). I will give my children financial advice to the best of my abilities but I will encourage them to take a class at school.
I will assume that he is marrying a professional woman who has a career on a par with his. Both will be earning good $$ and can afford a nanny. I would still advise a pre nup so that the parties are clear what will happen when they split.
If he is a professional and she is a hooker than he certainly needs a pre nup ha ha
I'd advise my wealthy (step)son to speak to his father, because his stepmother is clueless and his mother is batshytt crazy. The kid is going to be loaded someday and I'm not going to risk giving him advice. His dad can teach him what to do.
Cover your assets would be my advice.I would tell both my sons and my daughters to make sure they had a pre nup. Divorce is something that happens far to frequently.
I would tell my child, regardless of gender, to get a prenup if the wedding was fast (they hadn't known each other for long) or if I had my doubts about the young man or woman.
Pre-nup and/or separate accounts, joint solely for *join* expenses. But that account you contribute and draw from *equally.*
Get a pre-nup....and I'd say the same for the daughter, too.
dnt get marred!!
I'm not a mom, but I would tell him to get a prenup.
i agree with a pre nup
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