Do you and your DH have different saving styles?

[stichy]

My family is coming into a large sum of money soon. DH and I plan on using our portion to pay down our debt. We'll still have a good bit of debt so all of our money (minus some that we'll hold back for taxes) will go towards the debt. We plan on saving some of DS's portion for his college and keep some liquid for when he turns 16 and wants a car. If it were up to me it would be in a cd even though the rates are low right now. DH on the other hand is much more aggressive with investing. He prefers to put it into stocks. He is very good with picking stocks. He put about 2k in stocks a year or 2 ago and has doubled our money so I have to give him credit for that. Do you and your SO have different views on how to invest your savings?

 

[sarah4770]

How old is your son?
edited: sorry didnt read the question right.
no, my s/o usually leaves it up to me.

 

[crisi]

My husband also lets me deal with it. He isn't a saver at all, he'd just spend it.

BTW, wasn't that hard to double 2k in the market last year. You will not see that sort of gain again unless you have cash at the next market bottom - that sort of thing tends to only happen once every ten years or so. Unfortunately, if you buy in at the top, it can be hard to remake your losses if you don't have more cash to throw in to even out the gain/loss.

Experts would recommend a diversified portfolio - stocks plus those nice safe CDs or bonds. You guys would probably do well if he had a "allowance" to play with in the stock market and you had an "allowance" to be conservative with. Would probably be a good investment strategy since you natural risk tendancies would serve you well.

 

[DawnM]

Will you be able to pay off all of your debt? I couldn't quite tell because the statement said, "We'll still have a bit of debt" If so, I would take care of ALL of that first. Maybe even paying down some mortgage if you have any.

Dawn

 

[Acklander]

Will you be able to pay off all of your debt? I couldn't quite tell because the statement said, "We'll still have a bit of debt" If so, I would take care of ALL of that first. Maybe even paying down some mortgage if you have any.

Dawn

I think she was talking about her son's portion. She wouldn't be able to pay off HER debt with money that belongs to him.

OP, I'd split the money and invest half/save half in CD's.

 

[stichy]

Will you be able to pay off all of your debt? I couldn't quite tell because the statement said, "We'll still have a bit of debt" If so, I would take care of ALL of that first. Maybe even paying down some mortgage if you have any.Dawn

DH and I will still have some credit card debt. We will continue to pay the same amount that we pay now each month but it will be spread over fewer cards and make a bigger dent. I don't want to use DS's share since it is supposed to be used for his benefit. It just doesn't feel right to use his money for our debt (even though our spoiling him rotten has contributed to it). He's 7 so we have plenty of time to make the most of the investments to make him more money. We are hoping to have enough to cover college and a portion of whatever car he wants.

 

[luvmarypoppins]

Dh and I have the same ideas, very conservative. Stocks - No Way!! I let dh decide stuff but he always runs it by me lst.

We only usually do municipal bonds and also no stocks with his retirement fund either.

Our investment guy always says, I know..I know..no or very little risk. I think he has us figured out for sure!!