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Should I Invest in Property with My Wife Even if We Have Different Goals?

Anu

Anu Krishna  |1437 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Dec 25, 2024

Anu Krishna is a mind coach and relationship expert.
The co-founder of Unfear Changemakers LLP, she has received her neuro linguistic programming training from National Federation of NeuroLinguistic Programming, USA, and her energy work specialisation from the Institute for Inner Studies, Manila.
She is an executive member of the Indian Association of Adolescent Health.... more
Asked by Anonymous - Dec 17, 2024Hindi
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Relationship

Hi Anu, I need some advice that’s a bit out of the ordinary. I’ve been married for 8 years, and my wife and I have recently been discussing investing in property together. The twist is, we have very different ideas on what to do with it. I’ve always been more of a numbers person—thinking about it as a solid financial investment. I want to buy something that will increase in value over time and add to our financial security. On the other hand, my wife sees it more as a home. She’s emotionally attached to the idea of a cozy, dream house, somewhere we can raise our family and enjoy life together. So, we’ve been butting heads a bit, as I’m leaning more towards an investment property in a growing area, while she’s looking for something more in line with what we want to live in now. It’s getting a little tense between us because I feel like she’s not seeing the financial side of things, and she thinks I’m too focused on money and not on our happiness. Is there a middle ground where we can both be happy?

Ans: Dear Anonymous,
Well, it's dream v/s practicality, yeah?
When you get to a stalemate situation like the one you and your wife are in, the best way is to go back to the Square A.
Start where you began when you married...list down what's important to each of you and somewhere in your case, it will lead not just to her wants and yours, but it will go back to money and financial prudence. When you hit this, come to an understanding as to how you will overcome this; it has to be mutually agreed upon. Then bring your current home buying issue and solve it just like the way you sorted your differences over finances. Try it...it will work...

All the best!
Anu Krishna
Mind Coach|NLP Trainer|Author
Drop in: www.unfear.io
Reach me: Facebook: anukrish07/ AND LinkedIn: anukrishna-joyofserving/

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Vivek

Vivek Lala  |301 Answers  |Ask -

Tax, MF Expert - Answered on May 18, 2023

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Money
Dear Sir, I am a NRI (46 years) just return and settling in India, so far my finance portfolio is cash in hand 3.5CR and asset of 4cr on land and agriculture which i know intention to sell as of now and i too start build house as to get passive income from our saving apart above, now my problem is currently we (my kids 10standard and 7 standard my wife) staying rental appartments and i have issue as i intent buy apartment and remaining put in FD but my wife refusing and makes so much decision with other people opnion to put all 3.5cr on land on industrial area...and the thing is i am so confused as she dont know anything last 20 years but once we in india all kind of thoughts she have and i cant able to make right decision and for info i am almost semi retire due to my health issue and i dont any insurance coverage , so please give guide line to follow
Ans: Hello,
As per your description of your assets, you have 3.5 + 4 = 7.5crs total
For living you can buy a house upto 3-3.5crs inclusive of taxes and interiors ( this will net of taxes paid for the property sold previously )
The remaining amount which is 4crs , you can park that in a balanced portfolio of mutual funds to get SWP of Rs.2L per month which is 6%. What this will do is take care of your day to day expenses and also give an appreciation of your portfolio to beat inflation VS FD which will give you 6% but no capital appreciation.
You can do as follows in terms of the funds
Emergency fund - 20L in a short term debt fund or FD
Investment portfolio - 3.8crs
Small cap - 15%
Mid cap - 15%
Large and mid cap - 20%
Multicap - 20%
Consumption fund - 10%
Equity hybrid / BAF - 10%
As per choice - 10%

Do spend some money for medical insurance no matter how expensive with a good medical insurance company after consulting an advisor.

Please note that these suggestions are based on your stated goals and the information you provided. It is always a good idea to consult with a financial advisor in person to better understand your risk tolerance, time horizon, and specific financial goals.

..Read more

Ramalingam

Ramalingam Kalirajan  |7545 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Apr 24, 2024

Asked by Anonymous - Apr 24, 2024Hindi
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Money
I'm 33 yo technologist, working at a reputed firm. I earn about 3L pm in hand. My wife, 33yo technologist, working at a reputed product company, gets about 2L in hand pm. We have loan of about 50L & we get about 50k pm in rent. Illiquid funds (SGB, silver bar, bonds) of about 30L & properties worth of about 1.5cr. PF & PPF of about 40L. Jobs are highly insecure - we might find another job soon, but we might not get this high salary. We both have dream of buying a site & constructing a home, which will easily cost 3-3.5cr in Bangalore. We should also think of retirement corpus, children education & factor in our old-age health expenses. We have a 6mo daughter, Also we want to have another kid. With this setup, is it wise to chase our dream? Or is it best to start investing/saving, as risk mitigation of our insecure jobs/early retirement.
Ans: Navigating the intricate tapestry of financial planning, especially with dreams as grand as yours, requires a blend of optimism, pragmatism, and foresight. Given your combined monthly income and assets, you're in a solid position, but the uncertainty of job stability adds a layer of complexity.

Let's begin with the dream of owning a home in Bangalore, a city where property prices can be quite steep. While the desire to build your dream home is admirable, it's crucial to strike a balance between your aspirations and financial security. With a loan of 50L and dreams of a 3-3.5cr home, taking on additional debt might strain your finances, especially if your incomes were to fluctuate.

Considering your illiquid assets, properties, PF, and PPF, you have a strong foundation. However, prioritizing risk mitigation and building a safety net is paramount, especially given the insecurity of your jobs. A Certified Financial Planner would likely advise you to create an emergency fund, diversify investments, and consider income protection plans to safeguard against unforeseen challenges.

Moreover, planning for your children's education, retirement, and old-age health expenses is essential. Starting early with systematic investments tailored to these goals can make a significant difference over time.

In essence, while the allure of building your dream home is compelling, it might be prudent to focus initially on strengthening your financial foundation and mitigating risks. With strategic planning and disciplined saving, you can work towards both securing your future and realizing your dreams, ensuring that each step you take is a step towards financial well-being and fulfillment.

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Anu

Anu Krishna  |1437 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on May 15, 2024

Asked by Anonymous - May 13, 2024Hindi
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Relationship
Dear Anu, Me and my brother always wanted to buy a 2bhk. I got married a couple of years back & my younger brother is unmarried. We both have been looking for properties for years now but nothing would fit our budget. This is something my wife knew before marriage as well. Now she wants me to abandon the plans of buying a house with my brother and to plan with her. I am of the view we all can come together to buy the house but she is not ok with my brother contributing. As she believes it will create issues later on and during inheritance. I am in a dilemma about how to navigate this. As we all live in rented flat along with my parents?
Ans: Dear Anonymous,
You are taking an emotional stance on this and your wife is on a fear-ridden path...both of you are not wrong BUT is it possible to agree to what your wife is saying and yet not lose your brother's favor. Then you will have nothing to lose and everything to gain.
Separate finances keeps relationships healthy and we have enough evidence where mixing financial matters and personal stuff can get messy...
There is nothing emotional about it, so think of the future...it's better to be safe and he's your brother...I am sure that he will understand...I have a question for you though: Why is it so important for you to have your brother's presence in buying the house? What will happen if you go ahead by yourself just like he can go ahead himself?
There are other things that you can share like going on holidays together, family gatherings, doing some charitable work together...
Prioritize relationships over finding what ties them...and your brother is not married...his future bride may not like the arrangement as well and then it will be one big mess to separate things...
Better keep things separate now than later...mending scars is more difficult than making a sane decision now...

All the best!
Anu Krishna
Mind Coach|NLP Trainer|Author
Drop in: www.unfear.io
Reach me: Facebook: anukrish07/ AND LinkedIn: anukrishna-joyofserving/

..Read more

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Ravi

Ravi Mittal  |505 Answers  |Ask -

Dating, Relationships Expert - Answered on Jan 16, 2025

Asked by Anonymous - Jan 16, 2025Hindi
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Relationship
I am 31 years old and have been married for 6 years. My relatives keep pressuring me and scaring me, saying that I haven’t had a child yet and that I should have one now. However, we are not financially prepared at the moment. We have just bought a house, and the loans have recently started, which exhausted all our savings for the down payment. My husband’s family had a very weak financial background. They had nothing, and he struggled a lot, even living in someone else’s house to complete his education. Only he knows how hard it was. Now, his salary has improved, and I am also employed. Additionally, we are entirely responsible for my in-laws, as my husband’s elder brother neither got married nor provides any support for the parents. We are under a lot of pressure right now, but everyone just keeps asking us when we are going to have a child. I’ve seen how my husband struggled with limited finances when the family was financially weak, and I don’t want to show such hardships to our children. On top of that, I am overweight and focused on losing weight to ensure I can be healthy. I feel very stressed and confused, but my husband is fully supportive of me.
Ans: Dear Anonymous,
First of all, I am really glad that you are being so responsible and practical, rather than making such life-changing decisions based on emotions alone. Second, don't worry about other's opinions; they might have your best interest at heart, but this should be solely your decision. You should have a child only when you are ready to have one- both mentally, physically, and financially. And no hard and fast rule says you should have a child within a certain year of your marriage. Two people in a marriage is a whole family too; a child can add to the joy if that is what you want. But if not, your family is still complete. Please remember that.

Take care of your health and your mind. If you are worried about your age, you can always go see a doctor and see how many years you can delay this. Rushing is never a good idea.

Best Wishes.

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Radheshyam

Radheshyam Zanwar  |1144 Answers  |Ask -

MHT-CET, IIT-JEE, NEET-UG Expert - Answered on Jan 16, 2025

Asked by Anonymous - Jan 16, 2025Hindi
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Career
I'm a bsc botany graduate and now got admission and doing msc. I'm in first year and just gave my 1st semester exam but somehow now i feel i can't do botany at all its not just in my interest. I can't continue further with it as i dont think there's much scope too. I have interest in fields like geography or law related subjects. I'll be attempting for upsc too this year and also had a second thought to go for Law. Should i drop the msc? ....I've cried a lot thinking about that and its affecting my mental health too.
Ans: Hello dear.
First I would like to suggest that, in any way, you first complete your M.Sc. (Botnay) either with interest or without interest. Who told you that there is less scope in Botany? There are a lot of career options after M.Sc. (Botany).It is good that you are interested in geography and are attempting UPSC this year. Dear, along with your M.Sc. you can easily appear for UPSC and do the study of Geography, after completing your M.Sc. you can take the admission to Law course. Many people do the law even after their retirement or in due course of their service. There is no need to cry about the things which happened to you.
Suggestions: (1) Completer M.Sc. (Botany) by any means (2) Space-time to read Geography and UPSC Syllabus (3) Develop your overall personality and try to engage in some extracurricular activities of your interest.
Best of luck for your upcoming bright future.

If satisfied, please like and follow me.
If dissatisfied with the reply, please ask again without hesitation.
Thanks.

Radheshyam

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