Download the Schwab app from iTunes®Get the AppClose

Starting Out: Ruth & Phil

Click to show the transcript

Ruth: Coming into a second marriage ...

I was ready to share my life with Phil. I wasn’t ready to share my plan, especially when it came to finances, and my feeling of responsibility to my kids. That sounds silly, but it was the hardest part for me to trust and feel safe to plan our future together.

Phil: When I met Ruth, I was single. And so I always felt that I could take certain risks because the downside to that was just going to affect me and nobody else.

Ruth: We kept our finances kind of separate, and we didn't really talk about it.

Phil: It's as the kids got older and we started thinking about what is going to be the best for the kids. How do we afford college?

Ruth: The plan that I had to save as much as I can and hope that it's enough isn't an adequate plan if one of us should lose our job, one of us should get sick. When you have three kids that you're responsible for, you need to plan in a different way.

Sometimes it's hard to talk about money. But once you kind of get it rolling, it gets easier, and it can be fun to think about the future and what we might be able to do.

Important Disclosures

Investing involves risk including loss of principal. Investors featured in these videos are not clients of Charles Schwab & Co., Inc. or its affiliates and were not compensated by Charles Schwab for their time. Investors’ experiences vary and are not representative experiences or results that may be expected. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.

(0418-8ASL)

Thumbs up / down votes are submitted voluntarily by readers and are not meant to suggest the future performance or suitability of any account type, product or service for any particular reader and may not be representative of the experience of other readers. When displayed, thumbs up / down vote counts represent whether people found the content helpful or not helpful and are not intended as a testimonial. Any written feedback or comments collected on this page will not be published. Charles Schwab & Co., Inc. may in its sole discretion re-set the vote count to zero, remove votes appearing to be generated by robots or scripts, or remove the modules used to collect feedback and votes.