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Nov. 21, 2020 9:00 am ET
For some couples, the continuing stress of the pandemic and the economic downturn have fueled new disagreements about money and intensified existing ones. Financial advisers say they are hearing from more partners who aren’t seeing eye-to-eye about how much to save, invest and spend.
“The nature of this pandemic, characterized by job losses and business setbacks combined with more day-to-day contact than many spouses have had in years, can raise issues,” said Robert Friedman, a financial planner in New York.
Not only are many couples confined together, but some also are facing new challenges in uncertain times. In the past, they might have quarreled about how much to spend on their children’s tuition or where they could afford to go on vacation. Today, they might be more likely to fight over how much to save for a rainy day or the best time to move to a new house.
Advisers say they are helping clients by running the numbers to find more common ground.
Since the pandemic, how much to save in an emergency fund is the largest point of friction, says Ryan …
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