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Money Monitor: How wealthy singles can protect their riches

The obstacles to finding a perfect romantic match can be compounded for wealthy singles. The rich, famous and single need to be wary of suitors who are more interested in their pocketbook than personality. Experts say there are ways to protect their wealth from opportunists. For those searching for an easier way to take money out of the equation, the simplest solution is to date within ones financial strata. There are matchmaking services that cater specifically to affluent individuals. However, finding a financial and personal equal can be quite difficult. Experts say in that case that the wealthy can take some precautions early in the dating game. Conversation about the extent of their riches should be limited. Watch out for red flags such as the other person insisting on extravagant vacations or expensive gifts. Make sure that personal and expensive items in the home are properly ensured. If the couple starts spending nights at each others homes, the wealthy individual should think about having their partner sign a cohabitation agreement. A cohabitation agreement is similar to a prenuptiual agreement, but for a couple who are not married. Another step worth considering is a non-disclosure agreement (NDA) which, prevents a partner from stealing their ideas or taking them to a competitor.

Money Monitor: How wealthy singles can protect their riches

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Money Monitor: How wealthy singles can protect their riches

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