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 2015 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.

button coupons
Started 11/8/2013
Started 11/8/2013
Started 11/8/2013
Started 11/8/2013
Started 11/8/2013
Started 11/8/2013
button classifieds

In Other News...

March 20-22 Women's Retreat: 'Holiness in Family Life'

OWENSBORO, Ky. (1/25/15) — "Holiness in Family Life: Lessons from Saint Monica and Elisabeth Leseur" will be the focus… Read More

WBES Council Meeting Today

MADISONVILLE, Ky. (1/26/15) — The West Broadway Elementary School site based council meeting will be held at 4 p.m.… Read More
Started 11/8/2013
Started 11/8/2013

Most Read This Week

January 23, 2015 8283

Local Church's Faith Restored; 71 Souls Saved…

in Video by Gary Gates, SurfKY News
January 20, 2015 7171

Bridal, Prom, Pageant Expo Planned for February…

in Hopkins News by Dana Brown
January 22, 2015 7040

Nortonville Man Accused of Selling Drugs near…

in Local (Hopkins) Top News by Madisonville Police Department/Hopkins County Jail
January 21, 2015 5766

KYDOT Pre-Treating Roads Thursday in Antipation…

in Top News For All Sites by Keith Todd
January 23, 2015 5586

Parents Face Charges after Marijuana Joint Falls…

in Local (Hopkins) Top News by Madisonville Police Department/Hopkins County Jail
January 22, 2015 5331

MCEA Head: Further School Mergers Might Ease…

in Local (Muhlenberg) Top News by Paul McRee, SurfKY News
January 21, 2015 4804

Man Arrested after Allegedly Nodding off on Baby…

in Local (Hopkins) Top News by Madisonville Police Department/Hopkins County Jail
January 23, 2015 4396

Nortonville Woman Charged for Meth Possession

in Local (Hopkins) Top News by Hopkins County Sheriff's Office/Hopkins County Detention Center
January 25, 2015 4005

Dean’s List Announced

in Top News For All Sites Touching Hopkins by Joyce Riggs
January 22, 2015 3650

Local Family Business Changes Hands

in Local (Hopkins) Top News by Doreen Dennis, SurfKY News

Stories Trending Today

January 25, 2015 4005

Dean’s List Announced

in Top News For All Sites Touching Hopkins by Joyce Riggs
January 25, 2015 2234

UPDATE: Two Die, Two Injured in Two-Vehicle…

in Local (Owensboro) Top News by Dispatcher Dustin Staves
January 26, 2015 1975

Man Goes to Jail after Allegedly Attacking Family

in Local (Hopkins) Top News by Madisonville Police Department/Hopkins County Jail
January 25, 2015 1773

Juvenile Hit by Vehicle at McDonald's

in Local (Muhlenberg) Top News by GPD Officer Wes Miller
January 25, 2015 1475

Kynect Enrollment Climbs as Countdown to Feb. 15…

in General News For All Sites by Office of the Governor
January 25, 2015 1404

Market Commentary - Jan. 25, 2015

in Top News For All Sites by Randall L. Franklin
January 25, 2015 1266

March 20-22 Women's Retreat: 'Holiness in Family…

in Owensboro News by Jennifer Kaminski
January 25, 2015 1224

Dave Says - Jan. 25, 2015

in General News For All Sites by Dave Ramsey
January 25, 2015 1140

Legislator's Log - Week of Jan. 25, 2015

in General News For All Sites by Brent Yonts
January 25, 2015 1067

Outdoor Truths - Jan. 25, 2015

in General News For All Sites by Gary Miller

SurfKY News Group, Inc.
Corporate Office & Studio
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 © 2015 SurfKY News Group, Inc.  •  Terms of Use  •  Site Map

social fbsocial twsocial yt
social gpsocial flr subscribevideoitunessocial rss