Love conquers most
When it comes to marriage, love overcomes all — including money problems. Having no retirement savings, a…
When it comes to marriage, love overcomes all — including money problems.
Having no retirement savings, a bad credit score or high student loan debt are not enough to break off or postpone marriage plans for most people, according to a recent survey sponsored by TD Ameritrade Holding Corp.
For 32% of those surveyed, potential deal breakers would be a bankruptcy; others include foreclosure (26%), high credit card debt (39%) and unemployment (36%).
“Love prevails,” said Carrie Braxdale, managing director of investor services at TD Ameritrade Inc.
The willingness to overlook some shaky finances “highlights the importance of having that [money] conversation before getting married,” she said.
Couples-to-be need to figure out how to manage their debt, know what they bring financially to the relationship and come to an understanding of how they plan to spend, invest and make major financial decisions.
With marriage occurring later in life, more people bring a longer financial history into the marriage — from credit card debt and student loans to 401(k)s and other investments, Ms. Braxdale added.
Women as a rule are more concerned about shaky finances than are men. And Midwesterners are more conservative than people in other regions of the country when it comes to the financial stability of a partner.
Respondents to the April online survey were a random sample of 1,014 American consumers with Internet access, and included both single and married people.
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