My husband doesn’t read my blog. He convinced me to start it, cheered me on enough to actually convince me to purchase a domain name and self host, and that was about it. Except for one day very early on when he clicked and clicked to get my page to 100 views…and promptly got busted by moi.
To say he’s not interested in personal finance is an understatement. We make smart money decisions together, but it’s not his hobby or his passion. So imagine my surprise when the stock market tanked this past August and again at the start of this year, and Mr. P started spouting off investment advice like he was Warren Buffet read a blog even realized the market was crashing.* Here are some of the little gems here’s shared with me over the past few months:
“You love to buy things on sale. This is like a really big, really long sale.” – I know he’s right. Of course, we’re losing money in the market right now. But by not maxing out our IRAs when the market is this low, we would be missing a huge opportunity to get in while things are “on sale”. If only Vanguard had a 90-day return policy like my favorite stores.
“You just told me you want to teach forever.” – Here’s another inarguable point. Whenever I joke about wanting to be a stay-at-home dog mom, Mr. P laughs at me. Not only because he knows I’d never actually go through with owning a dog in a house full of hardwood floors, but because he knows how much I love teaching. If I’m in no hurry to retire, there’s no reason why we shouldn’t be focused on the long haul when it comes to investing.
“If you’re too freaked out, you can always move it back.” – Thanks to careful consideration and some really compelling last-minute conversation with Des at Half Banked*, I moved all of my hold-back Roth IRA money out of a bank CD and into a Vanguard fund last year. I had already moved half to Vanguard, but I was a supreme chicken. I came home still a bit shaken after that visit to the bank, and Mr. P simply said, “If this is really bothering you, put next year’s money in a CD instead.” We won’t. But sometimes it’s helpful to remember there are options.
“You’ll be more upset with yourself for sitting out.” – I hate having regrets. I hate missed opportunities. I’ll be the first person to try an exotic dish — rattlesnake, anyone? — or seek out a new adventure — cliff diving in Mexico, perhaps — when we travel with family, friends, or just the two of us. There’s no reason to think that I wouldn’t feel the exact same way if I continued to sit on the sidelines when it comes to investing. I might never see the 8%-12% returns that Dave Ramsey goes on (and on and on) about, but I’ll never see anything by keeping my money under my mattress. Waiting is the perfect recipe for regret when we finally do get around to retiring.
*True story. One night, I was lamenting the fact that the market hadn’t had this terrible of a start to the year since the Great Depression. His reaction? “Really? Hmmm.”
**I was live-Tweeting my anxiety sitting in the parking lot waiting for the bank doors to open. No joke.
So Tell Me…Does your partner share your personal finance interests? Have you heard any good investing advice in unusual places or from unexpected sources?
Yep, both my wife and I very much share personal finance interests, and we are both 100% on-board with reaching financial independence and retiring as early as humanly possible so we can begin pursuing what truly interests us – travel and adventure.
Regarding the stock market, it’s a long-haul game, plain and simple. We don’t much care about shorter term ebbs and flows. We care about capital gains over the course of 10 years or more. The market has been pretty crappy as of late, but that’s okay. Stocks are cheaper and investing is a better deal right now. It will go back up. It always does.
And I completely agree – it’s always helpful to remember that there are always options. Very few decisions that we make in this life are 100% permanent.
My darling is everything I’m not. I’m sarcastic, he’s literal. I love finance, he loathes it as if it’s the devil’s spawn. Oh well, at least I convinced him that fixed banks accounts are daylight robbery and started him off on a direct debited mutual fund. My job is done for now!
Cheers
MrRicket
I might never see the 8%-12% returns that Dave Ramsey goes on (and on and on) about <– this line made me lol. When DR uses that number, he makes it sound easy. Just like returns on real estate. ~Of course you're going to make money on houses, of course you're going to make 8%-12% in the market long term, of course of course of course… but then he ALWAYS follow it up with *if you've done your research* and it makes me want to throw things. It is just not always the reality.
Great post!!
Sometimes it helps to have a partner with a nearly objective perspective by virtue of being not at *all* interested in the nitty gritty of personal finance. Sometimes it helps because I’m a control freak who must manage all the money and “no opinions were solicited!” 😉
For someone who’s not interested, though, Mr P seems to have good common sense thoughts.
Most importantly (to me): why wouldn’t you be a full time dog mom? Is it the hardwood floors or the dogs that are a problem? 🙂
My guy is totally not into personal finance. But he is a saver so I guess that is a start. Hopefully I can get him into investing.
Also I wouldn’t say this advice was good but it came from an interesting person so I thouht I’d share. He said to save $100 every month and when the list of the top 100 companies comes out, invest in the top 10.
My husband and I have the same financial interests for sure. We also agree in an investment strategy, which involves buying lots of index funds. I’m not too terribly worried about how the market performs right now. I just invest monthly and try to ignore the news as much as I can.
Jon and I don’t agree on everything, but we’re mostly on board with the same investing philosophy. So, now is as your husband says “one big long sale” for stock that we hopefully have many years to let appreciate.
Nope, Tim has little to no interest in personal finance. Well, except that it dictates how we spend our money.
I just ignore the balance of our retirement accounts because I know things will correct themselves — in both directions. It keeps me calmer that way.
YES! The first quote, “You like to buy things on sale…” – my fiance said almost the exact same statement the other day! He posed it in a question: “If people go crazy when there are sales, why are they pulling out of the stock market?” We then discussed how people like Warren Buffet prefer ‘buying quality items at discounted prices.’ We’re both investing for the long term as well. 🙂 Whenever I feel anxiety, I tell myself that just starting to invest is half the battle. Whenever choices I make from here on out (minus taking out all of my money) I see as positive changes.
P.S. yes to be adventurous, I’ve tried rattlesnake as well! Whenever I feel