Fraught but necessary: The money conversation when one half of a couple retires

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Ameriprise Financial News

Retirement Savings,Financial Planning Association,Spending

Nearly half of couples haven’t figured out how they will recreate their paychecks in retirement. Talking about it is essential.

Everywhere we’ve gone this week, my husband Cliff is fielding congratulations from friends and neighbors on his retirement.

The truth is that 1 in 4 couples disagree over retirement spending priorities, according to Ameriprise Financial. For us, keeping a few accounts individually has let my husband and me maintain some autonomy, so we haven’t had to ask permission to invest in something we love or sock money into a pastime that creates our work/life balance.

These chats can dial back the emergence of festering financial problems. Importantly, we review our overall financial picture at least once a year with our financial planner; we rebalance our accounts and look at new investments. As for my new “retiree,” we will keep the lines of communication open and, on our July 4 anniversary, once again read the Navajo wedding blessing from our wedding day:

They'd been married for 20 years and had just bought a beautiful home for their four children, then out of the blue, her husband left...Shape-kapselit rasvanpolttoon: Hitti vai hutiAn aptly-named calf born near Kingston, Ont., is causing quite a stir due to her unusual markings. Eclipse was born with a white crescent moon-shaped mark on her forehead. Not only that, but she was born on Apr. 8, the same day a historic total solar eclipse briefly plunged the region into darkness.

Retirement Savings Financial Planning Association Spending Marcy Keckler Retirement Social Security

 

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