Reach your financial goals by taking a business leader's approach to your family's finances.
By Susannah Snider, Staff Writer |May 3, 2018, at 10:45 a.m.
How to Be the CFO of Your Financial Household
Consider it a promotion. From now on, you are more than a humble household money manager, a bill payer and a check writer.
Instead, you are the chief financial officer of your household. You're the CFO of your finances, the C-suite executive of your personal capital. No corner office is required, but you're welcome to make business cards if you'd like.
Your new role as household CFO will require... Read More
Lili Vasileff is quoted in a recent article by Brittney Laryea for Magnify Money on how to handle a spouse who is chronically overspending. Lili says, "Financial infidelity is not a financial exercise, its an emotional exercise. Sometimes overspending may be the result of miscommunication, emergency spending, or unrelated, deeply seated emotional issues like an addiction."
How to confront an overspending spouse
By Brittney Laryea for MagnifyMoney.com - February 15, 2017
You’ve brown-bagged lunch for weeks and even cut out your morning latte and other non-essential purchases because you and your partner agreed to save up for your next vacation. A few months into saving, you’re riding in the passenger’s... Read More
In this article published in Bloomberg News, Lili Vasileff contributes to a discussion of the state of information sharing in marriages -- especially when it comes to financial details. Lili says, ‘‘Most couples don’t share fully financial details about private accounts, the nature of investments, or the amount of savings." By Suzanne Woolley
Published in Bloomberg News, August 31, 2016
Trust of politicians in America seems to have reached a new low in this election season.
But who would have guessed how little trust exists across the kitchen table?
Many American couples don’t share even basic financial details of their retirement savings account, beyond the fact that they have one. Twenty-one percent of couples either married... Read More
In this article for LifeHealth.com, Lili Vasileff explores the topic of late in life divorce. She says, "As a Baby Boomer approaching retirement, let us assume that you and your spouse have been fiscally responsible for most of your lives. But what happens when one household now unexpectedly divides itself in two with a late in life divorce?"
Planning Through Life's Disruptions: Advising Late in Life Divorce
How to help your client untangle, and protect, a mature retirement portfolio
by Lili A. Vasileff, CFP, CDFA
Ms. Vasileff received the national 2013 Pioneering Award for her public advocacy and leadership in the field of divorce financial planning. Lili is the President Emeritus of the national Association of Divorce Financial Planners and is a member of NAPFA,... Read More
As you approach your golden years, you realize you may be heading toward divorce. Now you start asking questions: how does one start the process, how much is it going to cost, and how long does it take?
Many Baby Boomers have misconceptions about divorce. These misconceptions arise from all sorts of people who mean well but mislead when sharing their own experiences and “knowledge from the battlefield”. Everyone has a story to tell. It seems that either they came through divorce reasonably well or they are financially devastated by divorce. The perils of not knowing what lie ahead seem enormous. Your anxiety is clearly growing as it becomes increasingly confusing to know... Read More
In this article by Jean Chatzky for Fortune.com, Lili Vasileff contributes to the discussion of recent research that finds many more men than women have bank accounts or credit cards that their spouse or live-in partner don’t know about. Should a married woman have a slush fund…a stash of cash that her spouse doesn’t have access to and maybe doesn’t even know about?
Lili says: “The idea of a secret puts up a flag. The idea of something being secret is that you’re fearful of being discovered…the more this idea of secrecy starts to creep in, the more you’re driving a wedge through your marriage.” So what to do?
In this news article by Anna Robaton for CNBC.com, Lili Vasileff offers her advice on the financial steps to take before exchanging vows. Lili says, "Set aside time to talk about money issues so that it becomes routine. This also minimizes the emotional impact of being caught unprepared to discuss money."
By Anna Robaton CNBC.com
Tom Grill | Getty Images
In the 14 months leading up to their wedding last September, Howard Gutman and his fiancé did what many other engaged couples do. They got... Read More
Every household must work out its own records management system, but some general guidelines can help. A good system will provide an overview of what happens to property after a major life event occurs. Lili offers her advice in her latest blog post...
Managing Household Records and Documents: Security and Necessity
PREPARED BY LILI VASILEFF
When was the last time you couldn't find an important paper you knew you had carefully put away? How do people decide where to store and keep such records? And how do they know what to keep, what to throw away, and when? Do you have a simple system or roadmap for important papers to which you or a loved... Read More