The Big Payoff: 8 Steps Couples Can Take to Make the Most of Their Money--and Live Richly Ever After

by Sharon Epperson

Middle-class couples are working harder than ever. So why are they finding it more difficult to finance their homes, send their kids to college, and save toward retirement? Couples who are strapped for time and weighed down by costly fixed expenses need more than a personal finance pep They need a plan. In The Big Payoff , CNBC correspondent Sharon Epperson lays out a nuts-and-bolts program that couples of all ages can use to realize their financial dreams. From stretching your budget and investing wisely in your home to protecting your family's money and building wealth over the years, The Big Payoff offers a concise bounty of precious information and practical steps toward financial wellness. Epperson begins by showing couples how to communicate better about money. She helps them realize that the same qualities needed to create a lasting relationship—understanding, compromise, and patience—are vital when it comes to building a secure financial future. Every important decision couples make, whether it's buying a home, having kids, changing jobs, or preparing for retirement, will inevitably involve a discussion about money, and Epperson teaches them how to handle finances with a cool hand while keeping the marriage vibrant and healthy. In addition, she empowers couples to take money matters into their own hands and shows them that by taking control of their finances, they can stop fretting about cash and start focusing on the important things in life. Each of the following chapters is designed to get partners talking and thinking about their financial life together. In eight easy-to-understand steps, Epperson unpacks the various options for saving money; creating emergency, retirement, and college savings plans; investing in a home; choosing the right life and health insurance; and drafting an estate plan. A wife and mother of two herself, Epperson knows a thing or two about the pitfalls of financial planning and doses her advice with plenty of humorous anecdotes, hard-earned experience, and down-to-earth language. Additionally, through helpful worksheets and exercises, The Big Payoff helps readers customize a plan that will work best for them and reap the most payback. It's never too late or too early to start, and now is the best time to start planning. Whether you are newlyweds or fast-approaching retirement, just starting a family or soon to be empty-nesters, this book is for you. After working hard to provide for your family, the reward of discovering your financial strength will be the peace of mind to enjoy your marriage, your family, and the rest of your lives together.

Genres: Finance, Personal Finance, Nonfiction

240 pages, Hardcover

First published May 1, 2007

Reviews

[Becca · Rating 4 out of 5]

I liked this book. So many personal finance books start with the premise of "so you're $30,000 in debt? What now?" For people who are doing financially fine, but like learning about their options when it comes to maximizing investments and retirement savings, this is a great book. Besides the general coverage of 401(k)s, Roth/Traditional IRAs, etc., it also covers things like buying your own health care or getting the best deal out of your employer's health care coverage as well as strategies for buying houses and saving for educational expenses. This is a personal finance book written for grown ups who already have their acts together, instead of the population of people who think their credit card is full of free money.

[Trina · Rating 3 out of 5]

This book was pretty helpful. I don't read a lot of financial books, so like other people said, it's probably similar to others, and the topic can be over your head if you aren't very familiar with money matters already. This book includes chapters on how to set up a budget, different types of savings accounts, retirement savings, good and bad types of debts as well as tips for paying it off, buying a home and what a house is really worth, health and life insurance, saving for kids college funds, and preparing your final will. I felt like the book was helpful, although all of the recommended savings and insurance plans are a little above the average person's reach, maybe?

[RiyriaReads · Rating 3 out of 5]

A great book with many good instructions. I will put many of them to use in my own discussions about finances. However, some topics were only applicable to a small number of people, specifically those of higher incomes (perhaps a symptom of the author's tax bracket) and people who were fairly far into their relationships. It also became rather technical at times, so if you are not overly familiar with the concepts associated with finance or are not particularly inclined toward mathematics, it could be difficult to fully comprehend the information being presented.

[Katie Grillo · Rating 4 out of 5]

This book was not what I was expecting. I thought there would be a greater focus on the couples as opposed to general financial advice. Still very informative, but I already knew about most of this content.

[Holliann · Rating 4 out of 5]

I really liked this. This was another one of those make yourself better seminars at Reg's work. This was a lot more my pace. No motivation, just the facts. It really had a lot of little things like the ins and outs of 401ks, roths vs. seps. Quite a bit of it I knew, but it was a good refresher.

[Reggie · Rating 4 out of 5]

This is mostly a nuts and bolts book. It has great information on how to actually take care of your finances. I read it at the same time that I read Dave Ramsey's Financial Peace which is more of a motivational book. Together they make a good combination.

[Shannon · Rating 3 out of 5]

This book would be great to inspire someone who hasn't been involved/interested in money management before. It was a little basic for me, as I have always had an interest in personal finance - but I can see the value in the book.

[Beth Gordon · Rating 2 out of 5]

Read one personal finance book, read them all.

[Stacie · Rating 3 out of 5]

Probably helpful to some one already savvy with money. For some one who really knows nothing it's not an easy read.

[Kelly · Rating 2 out of 5]

Can someone write a finance book that doesn't assume everyone lives in New York and can retire a millionaire if only they give up $10 cups of coffee?