Be Careful Who You Choose to Spend the Rest of Your Money With

Moneywise

Hampton

Business, Entrepreneurship, Investing

4.8 • 674 Ratings

🗓️ 30 July 2024

⏱️ 33 minutes

🔗️ Recording | iTunes | RSS

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Summary

Falling in love, getting married and spending the rest of your life together with someone can be one of the most magical things in the world. But when the matter of money gets involved, things can get well… complicated. What was once a dream can very quickly become a nightmare and reveal something much more sinister. Which is what Jennifer experienced first-hand. At the start of their marriage, Jennifer and her husband were on the same page on everything. Everything except how they were going to share their money. In this episode, Jennifer shares the journey of their relationship and how things took a turn for the worse, and how amidst the calamity she figured out how not to lose everything. Money may not be everything, but it sure as hell makes a difference who you share it with. This is Moneywise, a podcast where host Sam Parr is joined by high-net-worth guests to explore exclusive insights into personal finance and lifestyle tailored for other high-net-worth people, or those on their way. They'll get radically transparent about the numbers, revealing things like their burn rates, portfolios, and spending habits. Who is Sam Parr? Sam is a serial entrepreneur and the co-founder of The Hustle, which he sold to HubSpot in 2021. He's also the co-host of one of the world's top podcasts for entrepreneurs, My First Million. Known for his insightful business acumen and candid communication style, Sam Parr continues to be a prominent figure in the world of media and entrepreneurship. Sam's newest and biggest venture yet is Hampton, which he co-founded in 2022. This podcast was made for the Hampton community, a private, highly-vetted, peer membership community for founders and CEOs of fast-growing, tech-enabled startups. Chapters: Introducing Jennifer's Story (01:06) Jennifer's Financial Journey (03:09) The Relationship and Financial Dynamics (04:45) The Turning Point: Infidelity and Divorce (18:54) Navigating the Divorce Settlement (20:36) Life After Divorce: Jennifer's New Beginning (26:34) Final Thoughts and Advice (30:25) This podcast was produced in partnership with Lower Street and distributed by Morning Brew.

Transcript

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0:00.0	There was something about us that really clicked and we really got each other,
0:10.7	and there were many ways in which we just, we like to spend time the same way,
0:15.1	we thought the same way about things, including about money.
0:18.3	So we were just very, it felt very familiar.
0:21.5	In my opinion, choosing the right spouse or life partner is arguably the most important
0:27.0	financial decision that you're ever going to make in your life. There are all sorts of things
0:31.2	that couples want to agree on when deciding to tie the knot. Money being the biggest thing.
0:36.6	And if you don't see eye to eye, it can quickly
0:38.4	become a huge source of conflict. So I just said, you know, let's have a conversation about how we
0:43.8	combine assets. And he basically said, I'm not comfortable with that. Like, I can't get there yet.
0:48.6	But even worse, what do you do when it turns out the person you chose cheated on you?
0:53.7	He gave me an STD and Ben lied about it for seven months while I went to different doctors
0:58.8	to try and take her out what it was. I basically just wrote him a learner and said, I'm moving out.
1:04.5	I'm filing for divorce.
1:06.0	So for this episode of MoneyWise, we're not going to share the name of the guests.
1:09.4	And after you listen to the podcast, you're going to understand exactly why we did that. So, let's call her Jennifer.
1:15.2	Jennifer has built a thriving consulting business and it's worth around $10 million. She walks us
1:20.5	through how she handled every stage of her divorce, both emotionally and financially.
1:24.8	I took a settle link because it would be over. I've just decided to
1:28.7	treat it as a bad investment, get my money back and walk away, and I got it in cash. I've had a ton
1:34.2	of these money conversations on this podcast. And honestly, Jennifer is in the top 1% of people I've talked to.
1:40.4	She's got a positive attitude despite all the crap that she's been through that I frankly find incredibly inspiring and I think you will too.
	...

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