No matter how long you’ve been together, some topics are plain awkward for couples to discuss. (Just ask Dr. Ruth.) Typically, money ranks high on the list, too. A recent study indicates we aren’t doing enough talking amongst ourselves about financial matters and, particularly, retirement planning. No matter how old you are – but especially if you’re over 55 and keep separate retirement accounts – it’s a good idea to begin communicating openly, complete with dollar amounts, about where you stand and where you’re going.
It doesn’t have to be a scary, confrontational discussion. Make it fun! Meet on the back deck with your laptops – maybe a bottle of wine – and have a grown-up, financial game of “you show me yours; I’ll show you mine.” By getting out of your comfort zone and assessing what each of you have and need, you can alleviate some of the stress of retirement planning by having a clear picture of where you both stand…together.