Verbal Sparring

jacobtedBehavioral Finance

Are communications with your spouse productive or combative? Does your advisor educate you or patronize you? Imagine the impact this poor communication has on the quality of your retirement plan.

When my wife and I started our business, we fought a lot. And we fought hard. We both wanted our venture to be successful. But damn, we couldn’t get 3 minutes into a discussion before the gloves came off. Every time we sat down to talk, ding, round 100. The winner is the last spouse standing.

Something had to change.

At my suggestion, we adopted a new approach to our discussion. Whenever the discussion becomes heated, either one of us calls out to Alexa to start a timer. The person who starts the timer then has the option to either:

  • control the discussion and the other must speak only when asked, or
  • cede control to the other spouse.

When the timer ends, the discussion ends. The person who did not call the timer has the option to either continue the meeting or end it right then and there.

Sounds like Congress. So far, we have negotiated more treaties in a week than Congress has in a year!

Are communications with your spouse productive or combative? Does your advisor educate you or patronize you? Imagine the impact this poor communication has on the quality of your retirement plan.