My husband doesn’t read my blog. He convinced me to start it, cheered me on enough to actually convince me to purchase a domain name and self host, and that was about it. Except for one day very early on when he clicked and clicked to get my page to 100 views…and promptly got busted by moi.
To say he’s not interested in personal finance is an understatement. We make smart money decisions together, but it’s not his hobby or his passion. So imagine my surprise when the stock market tanked this past August and again at the start of this year, and Mr. P started spouting off investment advice like he
was Warren Buffet read a blog even realized the market was crashing.* Here are some of the little gems here’s shared with me over the past few months:
“You love to buy things on sale. This is like a really big, really long sale.” – I know he’s right. Of course, we’re losing money in the market right now. But by not maxing out our IRAs when the market is this low, we would be missing a huge opportunity to get in while things are “on sale”. If only Vanguard had a 90-day return policy like my favorite stores.
“You just told me you want to teach forever.” – Here’s another inarguable point. Whenever I joke about wanting to be a stay-at-home dog mom, Mr. P laughs at me. Not only because he knows I’d never actually go through with owning a dog in a house full of hardwood floors, but because he knows how much I love teaching. If I’m in no hurry to retire, there’s no reason why we shouldn’t be focused on the long haul when it comes to investing.
“If you’re too freaked out, you can always move it back.” – Thanks to careful consideration and some really compelling last-minute conversation with Des at Half Banked*, I moved all of my hold-back Roth IRA money out of a bank CD and into a Vanguard fund last year. I had already moved half to Vanguard, but I was a supreme chicken. I came home still a bit shaken after that visit to the bank, and Mr. P simply said, “If this is really bothering you, put next year’s money in a CD instead.” We won’t. But sometimes it’s helpful to remember there are options.
“You’ll be more upset with yourself for sitting out.” – I hate having regrets. I hate missed opportunities. I’ll be the first person to try an exotic dish — rattlesnake, anyone? — or seek out a new adventure — cliff diving in Mexico, perhaps — when we travel with family, friends, or just the two of us. There’s no reason to think that I wouldn’t feel the exact same way if I continued to sit on the sidelines when it comes to investing. I might never see the 8%-12% returns that Dave Ramsey goes on (and on and on) about, but I’ll never see anything by keeping my money under my mattress. Waiting is the perfect recipe for regret when we finally do get around to retiring.
*True story. One night, I was lamenting the fact that the market hadn’t had this terrible of a start to the year since the Great Depression. His reaction? “Really? Hmmm.”
**I was live-Tweeting my anxiety sitting in the parking lot waiting for the bank doors to open. No joke.
So Tell Me…Does your partner share your personal finance interests? Have you heard any good investing advice in unusual places or from unexpected sources?