Is Theresa getting a prenup?
This Golden Bachelor theory has me concerned...
Dear Friends,
Before you judge: know that I am one of almost 7 million people who watched the finale of ABC’s Golden Bachelor.
Let’s move on to an important financial red flag that is the elephant in the room.
Fans of the show are concerned about protecting this woman’s financial security from a man she just met. In fact this article says fans are urging Theresa to get a prenup- especially because the wedding is being rushed to air January 4th on ABC.
Let’s recap.
The show followed a 72-year old widower, Gerry, looking for a new life partner. By the finale Gerry had narrowed his choices down to two women.
Leslie looked to be set up to win. She is 64 years old, twice divorced and a fitness instructor. Gerry had told her she was the one, and even confessed to the camera that he was thinking about her when on a date with the other finalist, Theresa!
But when he was with 70-year old Theresa later that evening, something changed. He asked her about her job in the securities business. It becomes clear pretty quickly that she had been a very successful trader, and in fact was still working and earning money. She too was a widow after a long marriage. In financial terms, divorce is expensive and decreases your net worth. Losing a spouse late in life after decades of building financial security together, in general, would create a bigger financial cushion.
All this to say: why aren’t we talking about the fact that Theresa seems to be the more financially stable match? To be clear, we have no hard evidence that this was even a factor in Gerry’s decision to seemingly change his mind. After all, they went to the “fantasy suite” and we don’t know what happened there. Gerry may not even care that she is likely in a better financial position.
But he should!
After all, regardless of his own finances, if he were to marry someone in a less-than-ideal financial situation, that will impact his “golden” years. He needs to protect his own retirement savings! (You can read more about Gerry’s financial and career history in this article.)
I tell young people that part of choosing a life partner is going in eyes wide open on the financial picture. The stakes are even higher in our golden years.
I hope Gerry and Theresa are talking about money and that they're both protecting their assets while following their hearts.
6 tips to help you avoid getting stuck with holiday debt
I personally struggle so much with the holidays. I feel like I SHOULD be having the best time shopping for gifts and getting in on the “fun” but I know the consequences of buying in to buying up so much stuff.
The good news: I spoke with Philadelphia’s ABC 6 reporter Nydia Han and shared what I’ve learned over the years, including the secret question I always ask sales clerks - even when it is not the holidays. Trust me, it has a much higher success rate than you would expect.
Click on the link below to watch Nydia’s piece and then share your best holiday tips!
Speaking of holiday tips and tricks, gift giving often extends to the office and you’re probably thinking “what should I get my team this year?” Sure, gift cards are great, but what if you gave your team an experience that would empower and elevate their financial well-being? And what if you could give that gift to your entire organization?
You can. And it’s simple. With our Financial Wellness programming, you can support your team during — and after — the holidays when financial stress is peaking. For many, holiday stress can last for months due to overspending on gifts, travel and festivities with perhaps a longer timeline to pay it all off. Also, consider that women are more likely to experience higher stress levels than average during the holidays. According to Ellevest, 38% of women face holiday spending stress, and that’s on top of their existing money stress.
With Financial Wellness Strategies, your team will have the opportunity to attend a live, shared community event. Not only will we address financial pain points, present strategies, and help attendees find the right path to their personal financial goals, we’ll improve productivity, engagement and morale within your organization. And to support the women on your team in particular, check out our program “Financial Wellness for Women” that’s dedicated to the unique challenges women face on their journey to financial wellness.
Don’t wait, this is the perfect time to give the gift of financial wellness to your team. It’s easy, affordable and yes — fun. Plus, I'm offering an exclusive 20% discount for programs booked by December 31st (event can take place this year or next year).
Feel free to reach out for a complimentary 15-minute consultation to learn more.
Not in event planning or HR?
Please put us in touch with your company’s HR department, ERG leaders, or employee engagement team so we can get rid of those money fears and put you and your team on the path to financial wellness.
Still looking for the perfect gift?
Pick up a copy of my latest book “Launching Financial Grownups: Live Your Richest Life by Helping Your (Almost) Adult Kids Become Everyday Money Smart” for your favorite grownups.
It is perfect for parents, grandparents, aunts and uncles and anyone who cares about the financial well-being of the next generation.
“Launching Financial Grownups” will teach GEN X-ERS AND BABY BOOMERS how to help Millennials and Gen Z become financial grownups. After all, we all have a stake in their success!
The book is full of ways to open the conversation about money, and guide those next generation emerging adults to live their best financial lives.
So pick up a copy of my book Launching Financial Grownups for yourself, or for anyone you know and care about who has teen or young adult kids doing their best in high school, college, or their first “real” job so you can help “launch” a young adult and set the next generation up for success!
And yes, it makes a GREAT gift for parents, grandparents, and anyone in an older generation looking to learn how to help emerging adults.
Please follow me on Instagram - and let me know you are part of the financial grownup community by DM-ing me so I can follow you back.
Thank you for reading. If you enjoyed it please share with family and friends.
I truly appreciate your support and feedback.