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Retirement and Marriage

Core Facts

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Friday, June 8, 2018

Planning for retirement can sometimes be stressful, so much so that there is a rising trend in what is fast becoming known as “grey divorce,” which describes a couple divorcing after 50. There are a lot of details to consider when planning your retirement, and even more so as a married couple. For one thing, you’ll be seeing a lot more of your spouse than you are used to. Gone are the times when you got up in the morning and wished your spouse a happy day as you departed for work with your coffee in hand.In a marriage where everything is peachy, retirement may go just as smoothly. But in a marriage where things are already tense, retirement may just be the straw that breaks the proverbial camel’s back.

Just as communication is essential to any successful marriage, the same applies to a successful retirement. A recent study revealed that while the majority of couples (72%) say they communicate exceptionally or very well, over 40% failed to correctly identify how much income their partner makes, and of that, 10% got it wrong by $25,000 or more. The same study showed that only one in five couples had developed a detailed retirement income plan. 

Starting the conversation early and getting on the same page makes it a lot easier to progress toward a common goal. That includes being completely transparent with one another in terms of income and spending and formulating an accurate long-term common plan.

If you think of the marriage as a metaphorical company, the job of CFO has to be executed by one of the partners. And if that partner happens to fall ill or becomes unable to do the tasks required, the other partner should be able to step in and keep the financial motor running smoothly.

Communication is the only viable way to resolve disagreements. While many couples are on the same page about their ideal retirement lifestyle. Almost two-thirds were in agreement on where to live, while roughly 40% did not agree or had not discussed the topic. Surprisingly, almost a quarter of couples who were already retired were not in agreement or had not talked about it. 

While it’s not expected that couples will agree on everything, communicating openly and respectfully with one another will smooth any ruffles along the way. Consulting an advisor to help with the retirement plans is a good idea. That way you can get another perspective and some professional assistance in the matter.



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


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Author: Sally Falkow

Categories: Retirement Planning Information


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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

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Jake Mendlinger
Account Manager
516.829.8374 X 232

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