Out Money by Jeremy R. Gussick

OutMoney covers a variety of financial planning issues that LGBT singles and couples may face throughout their lives. From paying off debt, to saving for retirement, to filing for Social Security and Medicare, OutMoney will help guide you to making educated, sound financial decisions. Readers can submit questions directly to PGN columnist and CERTIFIED FINANCIAL PLANNER™ Jeremy Gussick at This email address is being protected from spambots. You need JavaScript enabled to view it.


Q: My husband and I are planning to adopt a baby! As hopeful same-sex parents, we want to begin thinking about our short- and longer-term planning. Can you offer any thoughts to get us on the right path financially?

 

Q: I contribute to a retirement plan at work. Within the plan, I can allocate some of my contributions to my company’s own stock. Is that a wise move?

A: Thanks for your question. Many publicly traded companies today offer their own stock as an investment option in their employee-retirement plans. Here are a few things to consider which may help you answer your question. 

Q: My advisor talks about how my accounts are doing compared to the “benchmark,” but I’m not really sure I understand what that means. Can you please help explain this?

A: Thanks for the question. It’s good to use benchmarks to track your investments over time. I’m sure your advisor would be able to explain this to you as well, but I’m more than happy to help you get started.

Q: My partner and I were recently married and are beginning to discuss buying our first home in the coming year. What information do we need to know to make this a thoughtful and hopefully enjoyable experience?

A: First, congratulations on your recent marriage and for preparing to take this next exciting step. For many people, buying their first home represents the biggest financial commitment they’ll ever make. Before making such an important decision, you should consider a variety of factors, starting with whether home ownership is right for you. 

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