I’ve done a lot of reading on the subject of FIRE and consider myself literate enough to write this blog and be aware of how to maximise my savings, invest, be frugal (to a point) etc.
I’m having real issues with my wife.
Not generally, but in a financial way. She is very much on-board with saving money as a concept and is (generally) good at limiting spend on things like groceries, and frivolous consumerism overspend. Notable exception, quarterly haircuts, 140 GBP!
The issue lies in the fact that she is completely risk-averse. She is a savings in the bank type person who doesn’t understand pensions, investing, or anything remotely financial that requires some thought. She refuses to put her money into investments in any way as they are risky, and I have had to lie to her (in all honesty) when I’ve been putting our money away into my Stocks and Shares ISA, not to mention our Rainy Day fund in Ratesetter. She would have a fit!
She sees that I read books on this and I reference them in conversation when trying to educate her on small things, like her pension and trying to get her to understand how taking control of them and grouping them into a SIPP is important. Her eyes glaze over and she gets stressed and freaks out. We never really get passed this and this is the major reason, if you look back a few posts to #3, we do not have her side of the equation in terms of pensions etc in order to be able to fully understand our net worth and how close we are to financial freedom. Admittedly, still a long way away, but there will be a point where this is necessary to organise.
I’m assuming that you all read a lot and so I’m pleading with you for some help. What is the very best, most basic book, that you would recommend I get her to read. I’ve seen some books written by women for women on the subject, but I fear that would be seen as sexist! Any recommendations you may have on the most basic layman’s terms books for total beginners, would be most gratefully received.