Infiniti Point: His and Her Bank accounts.

I came across an interesting article on those pesky MSN messenger pop ups that spit out the news. His and Her Bank Accounts . Friend or Foe?


My current situation is that we have his/her/and ours for everything. Chequing, Savings, Foreign Currency, Investments, Credit Cards, etc. Now the funny thing is that it's not so much about privacy, equality, shared responsibility and all of that. It's for the plain and simple reason that if something should happen to either one of us, we know that the joint accounts might be troublesome to deal with depending on the bank - so we figured to keep separate accounts to allow each other to continue to have access to funds at all times.


I agree that people should share the wealth between partners, but not always at a 50/50 rate. If one of you is better with numbers and investments than the other, then try something like 40/40/20 after paying the bills. (20 to go into investments and savings - or at least as much as possible to be directed by the better numbers person, but of course discussed with both).


Now regarding the investments themselves, for the name on the page ensure that you put the person with the lower income bracket to save on the tax burden. Even better, incorporate both of you under separate companies to take advantage of the ability for corporations to be forgiven X amount of Capital Gains to increase what you keep in your pocket even more. Just don't forget on the beneficiary side to include the name of your significant other / children.

Just my 2 cents. Now the important part - 40% or 20% or 50% of nothing is still ZERO. So get out there and learn how to invest from people at Infiniti Point http://www.ipoint.ca/ and see what they can show you.