Bobby Barrett

Is a storm coming ? Just saw my neighbor got Walmart delivery of about 10 cases of water..

Want to know one of the primary reasons couples fight about money?

Separate accounts.

I see it every day as a financial advisor.

→ He has "his" money
→ She has "her" money
→ Neither knows the full picture

This can create a dangerous cycle:

→ Less communication
→ More financial secrets
→ Growing resentment

Here's what I suggest newlywed couples consider:

Merge your finances from day one.

I know it may be controversial.

But here's the strategy we suggest:

1. The Reservoir System

→ All income flows into one account
→ Complete transparency
→ No financial surprises

2. Give space for each other

→ Each spouse gets their own spending account
→ Set monthly "fun money" transfers
→ Zero judgment on personal purchases

3. Be one in the same

→ Shared account for household expenses
→ Automated investment transfers
→ Built-in accountability

Look, studies show financial problems are a leading cause of divorce.

But here's what they don't tell you:

The problem quite possibly isn't money.
It's the potential impacts of having separate systems.

When you're truly building a life together, your finances generally should reflect that.

That's why Mattia and I merged everything immediately.

Zero regrets.
Zero fights about money.
Zero financial secrets.

Because remember:

Marriage isn't a business partnership. It's a life partnership.

Start acting like one.

BLESSED 2025

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The 401(k) isn’t the only employer-sponsored retirement account around. SIMPLE IRAs may be an option for employees of smaller companies and the self-employed who want tax-advantaged savings for their futures.

SIMPLE IRA contribution limits
The annual SIMPLE IRA contribution limits in 2022 are:

Under age 50: $14,000.

Age 50 and older: $17,000.

The annual SIMPLE IRA contribution limits in 2023 are:

Under age 50: $15,500

Age 50 and older: $19,000.

These contribution limits are lower than those for a 401(k). But people with a SIMPLE IRA may take part in another employer-sponsored plan (say, if a person had more than one job) and make contributions up to a total of $20,500 in 2022 and $22,500 in 2023.

What's more, while employers are not required to match employee contributions to a 401(k), generally they must kick in on a SIMPLE IRA, either matching contributions of up to 3% of employee compensation, or fixed contributions of 2% to every eligible employee. (The "SIMPLE" stands for "Savings Incentive Match Plan for Employees.")

Aside from the different contribution limits — and the fact that SIMPLE IRAs are available only at companies with fewer than 100 employees — the two work similarly. Just as a 401(k) does, a SIMPLE IRA allows investors to defer taxes on contributions and investment growth until the cash is used in retirement.

Hey Ladies, You're invited:

Women's Financial Literacy Session * Learn How Money Works * Understand your money mindset * Practical tips to have more money now! * A safe place to ask your money questions