Well, first, congratulations on your engagement. I hope it leads to a long and happy life together. YOu didn’t ask, but there’s a lot to discuss before you tie the knot or move in together. May I suggest going on Amazon to get a copy of my book The New Love Deal, written with my two dear friends — one a divorce attorney and the other a retired divorce court judge! We have some important ideas for discussions and plans to be made and financial aspects to be considered right now!
Well, that’s not what you asked about, but I couldn’t resist! It’s difficult to give good advice without knowing our entire financial situation. And whether these are good advisors for you depends on the individual — far more than the firm. My suggestion is that you set up a free appointment with a FIDUCIARY, FEE-ONLY financial advisor. And the best way to find one is to go through Wealthramp.com — a sort of matchmaker for trusted financial planners. All have been carefully chosen to be fiduciaries — putting your interests first.
In the meantime, put the money in a money market account in your bank. Read that book. Then set up a meeting–and perhaps a second, including your husband to be. You are no longer planning just for yourself, and you should have full disclosure of assets and debt — and perhaps a prenup. It’s wise to get these things sorted out in advance. A fiduciary financial advisor can help you both through this process.
(And if you don’t trust each other enough to give FULL disclosure, I suggest NOT getting married!)
You can learn more about Wealthramp by going to the little box top right of my website that ways: “Find a Financial Planner”. Or go directly to Wealthramp.com.