Pick Your Community: | Hopkins | Muhlenberg | Daviess | Christian | Henderson | Lakes | McCracken | Webster
Davis Motor Sales banner ad

Dave Says - June 1, 2014

dave says1KENTUCKY (6/1/14) — This week Dave discusses if a Millionaire widow needs a prenup and AAA or self-insure?

Dear Dave,

My husband died several years ago. He always worked very hard, and we did very well financially. I am now 48 and have $3.8 million in assets. I’ve found a wonderful man who is very stable and loving with a good job, and we’re considering getting married. Do you think I need a prenuptial agreement?

Heather

Dear Heather,

For years I told people never to do prenuptial agreements. I always said if you love your money more than you love your spouse, then you’re too immature and selfish to be married.

However, I’ve changed my tune on this subject a little bit recently. When one or two wealthy people get married, the problems that can arise usually have nothing to do with those two people. The problem is that it can invite a lot of crazy into your lives from the outside. Whether it’s a parent, cousin or child, sometimes people start feeling a sense of entitlement when wealth is suddenly thrust into the picture.

You both sound like mature, functional people with good values. In most cases, that’s a pretty good indication that crazy isn’t in the immediate vicinity. Still, there’s a lot on the line. So while I would advise a prenup, you might keep an open mind to revisions somewhere down the road. Make it pretty solid and protective for the first five or 10 years. But then, after you guys have built a life together, you’ll hopefully reach a point where you’ll feel safe looking at it as all ours.

So, the only reason I’d ever suggest a prenup is when two parties are bringing really unequal amounts to the table. Yours is an extreme situation, Heather, so I’d give it some serious thought. Let him know you want to do this to protect the relationship, so that there’s never any hint that the money is a problem or will create problems. If he’s as kind and thoughtful as you say, I think he’ll understand.

—Dave

Dear Dave,

What do you think about auto club memberships like AAA?

Jeremy

Dear Jeremy,

I’ve got nothing against AAA. But honestly, I tend to self-insure through savings for these kinds of things. I’ve probably used, or had need of, a tow truck twice in the last 20 years. When it comes to this kind of product, I always look at it from the perspective of, “Where does it leave me if I don’t sign up for their service?”

Again, I don’t think AAA is a big rip-off or anything like that. It’s just a type of insurance, if you will, for which I have no need. I guess it could be a handy thing to have if you were in a situation where you were using their services a lot. But if their average customer were like that, they’d probably end up losing money on you.

—Dave

Dave Ramsey is America’s trusted voice on money and business. He has authored five New York Times best-selling books: "Financial Peace, More Than Enough," "The Total Money Makeover," "EntreLeadership and Smart Money Smart Kids." His newest best-seller, "Smart Money Smart Kids," was written with his daughter Rachel Cruze and recently debuted at No. 1 on the New York Times best-seller list. The Dave Ramsey Show is heard by more than 8 million listeners each week on more than 500 radio stations. Follow Dave on Twitter at @DaveRamsey and on the web at daveramsey.com.

Disclaimer: The content supplied by columnists and letters to the Editor on this site does not in any way, shape or form, implied or otherwise, necessarily express or suggest endorsement or support of any of such content, statement, or opinions therein. SurfKY News does not necessarily adhere to or endorse content provided by outside non-staff sources.

© Copyright 2014 SurfKY News Group, Inc. All rights reserved. This material may not be published, broadcast, or rewritten without permission. SurfKY News encourages you to share this story by using one of the social media links below.

Started 11/8/2013
Started 11/8/2013
Started 11/8/2013
Started 11/8/2013
Started 11/8/2013
Started 11/8/2013

In Other News...

HCHS Students Participate in Outstanding Youth and Variety Contest

HENDERSON, Ky. (10/22/14) — Three Henderson County High School students, JT Payne, Michaela Boeglin and Addie Farley,… Read More

Alliance for a Drug-Free Owensboro-Daviess County Coalition Meeting

OWENSBORO, Ky. (10/21/14) — The Alliance for a Drug-Free Owensboro-Daviess County Coalition will hold a meeting at 12… Read More
Started 11/8/2013
Started 11/8/2013

Most Read This Week

October 17, 2014 12214

UK Women's Soccer Welcomes Ole Miss, No. 5/4…

in General Sports For All Sites by UK Athletics
October 20, 2014 5955

Uncle Lee's in Greenville is Closing Its Doors…

in Local (Muhlenberg) Top News by www.unclelees.com
October 17, 2014 4117

Single Vehicle Collision Results in One Injury

in Local (Muhlenberg) Top News by Trooper S. C. Recke
October 19, 2014 3989

Kentucky Energy Department Releases Virtual Solar…

in General News For All Sites by Dick Brown
October 16, 2014 3291

Madisonville Police Arrest Reports - Oct. 16, 2014

in Hopkins News by Madisonville Police Department
October 21, 2014 3192

UPDATE: Pedestrian Struck by Vehicle on Shamrock…

in Local (Hopkins) Top News by Officer C.P. Haynie
October 18, 2014 2940

Muhlenberg County Celebrates New Farmer’s Market

in Local (Muhlenberg) Top News by Charles W. Riley II, SurfKY News
October 17, 2014 2862

Madisonville Police Arrest Reports - Oct. 17, 2014

in Hopkins News by Madisonville Police Department
October 17, 2014 2823

Woman Arrested at Taco Bell for DUI

in Local (Hopkins) Top News by Madisonville Police Department
October 20, 2014 2723

Man Charged for Assaulting Pregnant Wife

in Local (Hopkins) Top News by Madisonville Police Department

Stories Trending Today

October 21, 2014 3192

UPDATE: Pedestrian Struck by Vehicle on Shamrock…

in Local (Hopkins) Top News by Officer C.P. Haynie
October 21, 2014 2147

Madisonville Police Arrest Reports - Oct. 21, 2014

in Hopkins News by Madisonville Police Department
October 20, 2014 2103

Hopkins County Board of Education Recognizes…

in Local (Hopkins) Top News by Tammy Holloway, SurfKY News
October 21, 2014 1995

Man Charged for Switching Plates on Vehicle;…

in Local (Hopkins) Top News by Madisonville Police Department
October 22, 2014 1838

Failure to Signal Ends in Drug Arrest

in Local (Hopkins) Top News by Madisonville Police Department
October 20, 2014 1832

Providence Police Reports Released

in Local (Webster) Top News by Chief Brent McDowell
October 21, 2014 1776

Arrival of Overpass Beams for I-69/Pennyrile Pkwy…

in General News For All Sites Touching Hopkins by Keith Todd
October 21, 2014 1635

Alliance for a Drug-Free Owensboro-Daviess County…

in Owensboro News by Carla Shelton
October 21, 2014 1493

Meade County Set to Host Third Region Boys'…

in General Sports For All Sites by Steve LeMaster
October 21, 2014 1354

RWRA Sewer Repairs Starting Tomorrow

in Owensboro News by Abby Shelton

SurfKY News Group, Inc.
1125 Nebo Rd.  •  Madisonville, KY 42431
270.452.2727 (phone)
  •  270.452.2249 (fax)


Contact a member of our staff: www.surfky.com/contact
Copyright © 2014 SurfKY News Group, Inc.  •  Terms of Use  •  Site Map

social fbsocial twsocial yt
social gpsocial flrsocial rss