Elfin Recite

A Money magazine survey found that 73 percent of men claim they’re in charge of the family’s investments. That review launched earlier this year’s worldwide economic disaster—lots of people don’t even want to open quarterly statements, let alone take charge. Two-thirds of husbands proudly call themselves the couple’s biggest risk takers, which is what got Wall Street in trouble.

Solution: Don’t do anything major without professional advice. Women tend to be more careful with money, says James Morris, who holds a Ph.D. in family therapy. Play to your complementary strengths. Jonathan Rich. Ph.D., a clinical psychologist and author of The Couple’s Guide to Love & Money, calls cautious people “Bankers” and risk-lovers “Gamblers.” The Banker should make sure all possible savings are being made and play devils advocate if the Gambler argues for a move in a new direction- If the Gambler has a big idea of investing in windmills, then he must convince the Banker that he’s examined the pitfalls. Compromise is best: Cautious, standard investments get most of the picture with a small slice for risk.

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