dealing with debt and a financially irresponsible spouse

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dealing with debt and a financially irresponsible spouse

I am married to a man that isn't exactly financially responsible. When he finds something that he wants, he will do whatever is necessary to buy it. This has caused us a lot of debt over the years. What can you do when you are married to someone that doesn't take being in debt seriously? How do you approach him or her about their spending habits? I have worked with a financial professional to learn how to manage my money, how to discuss our money problems with my husband and to learn how to reduce my debt as quickly as possible. Find all this information and more here on my blog.



How Precious Metals Can Help Your Investments

When you invest, you have to diversify, especially when dealing with retirement accounts. Your retirement funds now depend mainly upon your efforts, and you don't want to concentrate funds in one vehicle, lest you lose a lot. Adding an IRA account that focuses on precious metals adds another egg to that proverbial basket. Precious metals aren't always an option in many IRA portfolios, so by adding it yourself, you can expand your investments in an interesting way.

They'll Always Be Precious

One big advantage to precious metal IRA portfolios is that they will likely always be precious. Even if lab-created versions become common, the natural metals will likely still retain value. For an example, see diamonds; you can get lab-created diamonds that are less expensive than natural ones now, but if you try to buy a natural diamond, you'll still pay a lot. Chances are it will be the same with precious metals, with actual mined gold and silver commanding better prices than any lab-created version that may one day debut.

One More Avenue

As mentioned, many IRA investment portfolios don't include precious metals, instead concentrating on company stocks. By adding precious metals, you have another avenue for IRA growth that isn't dependent on the performance of a company. The stock of a business can tank after an employee does something horrible, for example; gold prices would likely not suffer such a quick blow.

Increases Over Time

Precious metal prices can fall, of course. But like the current stock market, the overall prices can keep going up over time, and any time there's a correction, investors swoop in to grab cheap shares. That brings the price back up again. So if you are worried that your precious metal investment could drop and wipe out, don't be too nervous. Some drops are to be expected, but overall growth is and has been very positive. You have to be patient and not sell at the first sign of trouble; if you can hang on and ride out any corrections, you should see your portfolios increasing again after a time. As with any retirement investment, you want to become more conservative the closer you get to retirement age, so be sure to review your investments each year.

You will find a number of precious metal portfolios to consider, from gold to silver and more. Keep precious metals in your investment pocket to further round out a diverse financial picture that should grow nicely.