How to financially train your spouse; Sugar, spice and every nice savings strategy; 10 questions to ask your financial advisor; Ode to Index trackers; ROI on self employment

Welcome to Take Five for personal  finance, the Friday edition. This will replace my Five-Fold Friday column. Still me, different brand name. Have a great weekend all.

1) Joint finances

I don't know about the accuracy of this often quoted stat but apparently money (and problems thereof) is the leading cause of divorce. I have experience in these matters and can attest to the toxicity of it all. 

When I'm inspired I'll write my own how to train your partner guide (hindsight is 20/20) but in the meanwhile, here's the Coles Notes version from Investopedia.

2) Nice

We had a lively debate on our website this week following an article by women and money columnist Joan Baker on why being nice at work doesn't work for those motivated to get ahead.

I wouldn't disagree with any of Joan's advice but must confess it made me a little sad thinking that being nice was career limiting.

Anyway, I found comfort in this article by NoDebtMBA. about how being nice outside the workplace is hugely profitable.  I have experience in these matters too and would be here all day if I had to write about the kindness of strangers and how much they've saved me over the years in goods, services and time. A special thanks to DS for the most amazing gift of two-wheels in a city full of cars and to the nice bloke up the street who changed my tyre last week. I have your sunnies.

3) 10 questions to ask your financial adviser

New Zealand's financial services sector has recently undergone the biggest revamp in its history. While all these new rules and systems put in place are intended to improve access to and ease of information, they've ironically made things more difficult in some ways.  AFA, QFEs, RAs, FSPR, there's so many new acronyms, policies and requisite layers of disclosure, it's hard to know who's who and what's what.

The new Financial Markets Authority website, is a good place to start for those who want to get up to speed with the new regulatory environment.  When you're dialed in on that front,  here's  10 Questions to ask your financial adviser compliments of FundSource. The link worked for me but if it doesn't you might need to register. Relax, it's free.

4) Index trackers

At the risk of opening a can of worms, the following is a good companion piece to the article above. It's a bit of a puff piece for Vanguard 500 and index trackers but food for thought nonetheless.

The fund management industry is squarely divided into two camps; those who support active management (that is the stock pickers) and those that support passive management (ie. index trackers).

The headline on Forbes Money where I found the article is "Index Funds Hit Mid-Life Strong and Healthy" but it might as well read "Ode to Index Trackers."

To read a more balanced story on active versus passive fund management see this article by yours truly. Alternatively, check out our investment management 101 series by interest.co.nz's Kevin Mitchelson a.k.a James Bond. Shaken but never stirred, isn't that right Kevin?

5) To be free or be bossed

I come from a long line of entrepreneurs, although a conservative stream I'd say. I guess we don't like to be bossed around.

That said, there is something to be said for paid employment, the regularity of a pay-cheque, paid holidays, and routine. To each her own really.

This article from Wealth Informatics looks at the pros and cons. On a purely numbers basis, the ROI is superior for the self-employed.  Net worth profiles seem to back this up as well.