No matter how long you’ve been together, some topics are difficult for couples to discuss. Typically, money ranks high on that list. A recent study indicates we don’t “talk amongst ourselves” enough about financial matters and, particularly, retirement planning. This is especially true for people who have yet to engage a financial advisor to facilitate the conversation.
No matter how old you are – but especially if you’re over 50 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 couple glasses 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 stress by having a clear picture of where you stand together as you approach retirement.
Better yet, take our free readiness assessment as individuals, then compare your scores as a couple to find where your differences are in terms of preparation and enthusiasm in five categories: Health & Nutrition, Self Identity, Social, Personal Relationships AND Financial. It’s a great conversation starter and a wonderful tool to have as you continue your journey. And, your Fit-To-Retire coach can help you take it from there!