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Old 05-30-2014, 09:42 AM
 
Location: Central Massachusetts
4,800 posts, read 4,861,663 times
Reputation: 6379

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Get on the Same Page: Retirement Planning for Couples | Wealth Planning content from WealthManagement.com

I know I am one of the few lucky ones and I will not deny that. Married 33+ to the same darling wife who looks better today then she did when I met her. So here is a posting on the net and yes it is by a company selling stuff it does have some good information for us married couples looking to retire soon.

I will quote a few items here that can be used in discussion. First are these.

Quote:
Here are some key questions financial professionals can use to get the conversation started:
  • Do you want to downsize to a smaller home?
  • Move to a new city?
  • Utilize home equity for income?
  • Will one or both spouses work part-time in retirement?
  • Are one or both willing to delay retirement by a few years?
These questions are crucial but there are so many. I will say these are things we have talked about for years. For years I said no to a move. Once I built this house I was adament that I would not move. Now I cant wait to move.

Quote:

By sharing positive retirement stories, financial professionals can inspire clients to take the first steps to ensuring their own happy retirement.
Good idea if you are selling stuff. It also helps to know for people like us that there are success stories. It would be nice to know the unsuccessful ones and the reasons.


Quote:

Married individuals can claim a spousal benefit at 66 – which equals the higher of the claiming spouse’s worker benefit or one half of the other spouse’s worker benefit. The claiming spouse, who can continue to work, can switch to their own retired worker benefit at a later date.
This point we talk about a lot but it is important to keep mentioning it.

Over all this is one of the reasons I came here. I am different then a lot but I am also like everyone wanting to know and learn. C-D here is a great source of knowledge and friendship.
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Old 05-30-2014, 11:29 AM
 
Location: Texas
1,029 posts, read 1,220,157 times
Reputation: 1985
Quote:
Originally Posted by golfingduo View Post
These questions are crucial but there are so many. I will say these are things we have talked about for years. For years I said no to a move. Once I built this house I was adament that I would not move. Now I cant wait to move.
I think this is important - that financial and retirement goals do change over time. Having frequent discussions help make sure that both partners are aware of what the other is thinking and how their opinions are evolving.

My H is currently saying he wants to stay in our house forever. I think we'll be downsizing after the last child is successfully launched. No need to argue the point right now - we have 15-20 years before we'll get to that point.

We have out retirement discussions every quarter to make sure we're on track with our goals.
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Old 05-30-2014, 12:00 PM
 
Location: Miraflores
787 posts, read 897,479 times
Reputation: 1531
I am almost 61 and my beautiful Wife is 33. We are in the early family planning stage (2nd child due in 2015), So my wife (working)can not even grasp the notion of retirement. Myself, (retired 27 years) has been doing retirement planning for most of my adult life. I figure, if I just leave her a big pile of money and teach my son to manage it ( it's in our genes), YW will be good to go!
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Old 05-30-2014, 12:52 PM
 
11,953 posts, read 20,430,746 times
Reputation: 19384
I've lived in a smaller home for 27 years... in retirement I want to UPSIZE! I really want a separate quilting space and a separate exercise space. I'm tired of having a multiple slash room -- a dining/library/quilting/exercise/cat toy room space...
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Old 05-30-2014, 01:10 PM
 
Location: Whereever we have our RV parked
8,857 posts, read 7,740,377 times
Reputation: 15223
Welcome to the zoo. You can learn a lot here. As we have planned retirement, we have changed our minds time and time again about a variety of things. Don't be afraid to explore options together and then discard them if they don't appeal to you. We're married 38 years. Highest priority is that we are both happy.
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Old 05-30-2014, 01:23 PM
 
Location: Miraflores
787 posts, read 897,479 times
Reputation: 1531
Quote:
Originally Posted by golfingduo View Post
Get on the Same Page: Retirement Planning for Couples | Wealth Planning content from WealthManagement.com

I know I am one of the few lucky ones and I will not deny that. Married 33+ to the same darling wife who looks better today then she did when I met her.
I think I am even luckier, I've had two beautiful wives and also got to be rich/handsome/single throughout my 40's!
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Old 05-30-2014, 02:52 PM
 
Location: Near a river
16,042 posts, read 19,011,439 times
Reputation: 15649
Retirement lessons from the 1950s:

Vital retirement lessons from the 1950s - CBS News
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Old 05-31-2014, 05:58 AM
 
Location: Floyd Co, VA
3,416 posts, read 5,148,345 times
Reputation: 7231
Quote:
Originally Posted by Tallysmom View Post
I've lived in a smaller home for 27 years... in retirement I want to UPSIZE! I really want a separate quilting space and a separate exercise space. I'm tired of having a multiple slash room -- a dining/library/quilting/exercise/cat toy room space...
That's what I did when I left my 1160 sq ft, 2 bed, 1 bath, bungalow in the Maxwell Park section of Oakland and retired to VA. This house is 2,800 sq ft, plus a 24 x 48 garage. No regrets about going much bigger.
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Old 05-31-2014, 09:47 AM
mlb
 
Location: North Monterey County
3,199 posts, read 2,868,733 times
Reputation: 4902
Married 25 years this month.

Started having the retirement conversation 15 years ago....after our efforts to have kids never materialized. Time to turn around and start living and saving for US.

We converse about retirement goals constantly - we balance our portfolio at least twice a year. We are on the same page. There will be tweaks - but the goals are the same.

I have been luckier in employment than he has - but that does not mean he doesn't bring something to the table. I decided - through his rocky work experience (mostly sales- so rarely benefits or retirement) - that I would save FOR him - so I have been saving around 30% of my income.

We have another 5-6 years before retirement. I would say we are on-track. I'd also say I'm pretty lucky to have someone who can converse intelligently about money and who has the same level of risk - that I do.
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