Want to build and protect wealth as a couple?

Money can either divide couples or bring them together. The difference often comes down to how they plan and manage it (Photo: iStock)

Building wealth as a couple means agreeing on shared financial goals and making deliberate decisions about earning, saving, investing, spending and managing risk.

Financial literacy expert Patrick Wameyo says that building wealth as a couple involves acquiring and maintaining income-generating assets. This also includes reviewing and adjusting investments as the business environment changes and as the couple’s willingness to take risks changes.

He says that having shared financial goals helps couples agree on an investment strategy that can provide the income they want. Lack of alignment can lead couples to miss opportunities, misallocate funds and make losses.

Before building wealth together, he encourages couples to discuss their expectations and fears about money and investments.