David Lerner Associates News

Couples Retirement Planning

Core Facts

Main Article Image

Friday, January 21, 2022

As a couple, you have more than yourself to think about. There are two of you entering a new phase in your lives which is an exciting and worrying time. No matter what you plan to do, you have to make sure both of you are taken care of for the rest of your lives. Saving money for your retirement isn’t the be-all and end-all of your planning. Ensuring that all the angles have been examined along with budgeting and saving will give you more peace of mind in the long run. When you are planning for retirement there are a few things that need to be addressed to ensure your comfort and security in later lives.



Health care costs in retirement can be very expensive. According to research, an average retired couple age 65 may currently need close to $300,000 saved to cover health care expenses in retirement. This is after-tax so you have to also factor in your tax bill. Both you and your partner’s health need to be taken into account when you are planning for retirement. When you took your wedding vows it was in sickness and in health. Preparing for your later years means you have to think about some factors you may not want to consider.


Estate Planning

When it comes to planning your estate there are some conversations that may feel uncomfortable to have but they are necessary if you want to plan properly. Couples need to think about the survivor benefit. It could make a big difference down the line. If one of the partnership earned more in their working life, then it may be a good idea to delay taking Social Security until full retirement age in order to maximize the survivor benefit. This way if they were to pass away before their spouse they would leave their loved one with a higher yield and a more secure financial future. 


Rafe Klein, Senior Vice President of David Lerner Associates, says “Planning for retirement as a couple means you have to make sure you are both cared for and feel secure in your later years. Getting advice for your future either virtually or in your home is easy to arrange and will help you make informed choices.”



Planning for retirement menus you also have to keep up to date with any laws that may change over time as well as earning thresholds. Work out f your tax situation changed. When it comes to your will and testament and the management of your estate check that the folks named in the document have been updated and are relevant to your life today and in the future.






Material contained in this article is provided for information purposes only and is not intended to be used in connection with the evaluation of any investments offered by David Lerner Associates, Inc. This material does not constitute an offer or recommendation to buy or sell securities and should not be considered in connection with the purchase or sale of securities.

To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. 

Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.

These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable-- we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.

David Lerner Associates does not provide tax or legal advice. The information presented here is not specific to any individual's personal circumstances. Member FINRA & SIPC

Number of views (283)

^ Top


Founded in 1976, David Lerner Associates is a privately-held broker/dealer with headquarters in Syosset, New York and branch offices in Westport, CT; Boca Raton, FL; Lawrenceville, NJ; and White Plains, NY. For more information contact David Lerner Associates Call 800-367-3000 Visit our website: www.davidlerner.com

^ Top

  • Connect With Us