This piece is part of my 2016–2026 archive migration. Some original formatting, content, and external links may be missing, changed, or not be optimized.
Even if you’re married, save like you’ll be a divorcee
Why You Should Save As If You’ll Always Be Single
People die.
People change.
People break up.
People get divorced.
Ultimately, things don’t always work out – even when everything points to the relationship working out. Sometimes relationships fail. It might not even be your typical reason to divorce (e.g., money or irreconcilable differences); it might be an addiction or death that sabotaged the relationship.
Secondly, just because you’re in a relationship or partnership doesn’t mean it’s time to give up your financial independence; this is the perfect time to boost your financial independence even more and possess double protection.
One Income Households: What To Do
If there is only one income earner in your household, save for two people in two different retirement or investing accounts. Ensure your retirement account is in your name, and your partner’s retirement account is in their name. You can make each other the beneficiary if one transitions out of this life.
Also, have a joint account; if things go awry, you can split this money down the middle (be sure to put this in writing somewhere with a witness).
In total, maintain at least three accounts, one of which you two own together; the other two independently owned.
Note: I do encourage one-income households to add an additional income source. For the person who is not bringing in income, this is an opportunity for you to build a passive or part-time income stream, so you always have money coming in from your efforts.
Two-Income Households: What To Do
If there are two income earners (ideal situation) in the household, each person can have their own account and fund the amount they consider needed in their future years.
Finally, the two people can both contribute an equal amount to a joint account. Once again, be sure to decide how you will split the assets in this account if one of you were to exit the partnership; furthermore, get your exit plan notarized.
If you’re investing aggressively, I’m sure you’ll have more investment accounts (401ks for traditional employees, brokerage accounts, real estate accounts, etc.) aside from your retirement accounts. These accounts can be financed individually, but you can also create investment accounts together.
For example, you might want to have accounts for crypto, REITs, or general investing accounts funded together. As long as you two remain together, these will be the assets you hold and utilize together. If you two split, do that with the money, too: split it.
Marriages Fail 50% of The Time
Though the average rate at which relationships fail is 50%, the other 50% of relationships are successful. Should your relationship work out, not only will you have pooled resources to share but individual resources to share.
Maintain Your Financial Identity
This article aims to encourage others to maintain their financial independence and identity within relationships and partnerships, which most people don’t do.
Even if it seems safe to rely on your partner’s income, don’t fall for this.
Always have your own money to maintain your financial freedom in the relationship and ensure you never have to think twice or get permission about what you do with your money.
Additional Resources
Note 1 // Have a conversation together about withdrawing the money, so everyone is on the same page.
Note 2 // Max out the contributions for all of your joint and individual accounts if it makes sense for your budget.
Note 3 // Be sure to write out how you will divvy any money shared in writing, so there are no misunderstandings.
This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.