Couples Retirement Checklist
Retirement Planning Checklist For Couples
A couple’s retirement checklist is an essential part of
Retirement is a major life transition, which will have
a significant impact on your relationships.
Research Couples Retirement
A study of 648 married couples, ages 46-75, by Fidelity
Investments (May2011), highlighted some of the retirement related differences
couples need to resolve.
- More than three in five couples differ on
their expected retirement ages.
- Almost one half of couples surveyed don't
agree whether they'll work in retirement.
- More than half of couples surveyed say one
of the best pieces of advice they would give to newlyweds is to make all
financial decisions together.
- One-third of couples surveyed don't agree
on lifestyle expectations in retirement.
Retirement checklist-resolving potential conflict
To resolve conflicting expectations and opinions about
retirement, couples should answer the following questions separately. They can
then compare the results and agree on which areas require further discussion
Couples Retirement Checklist
Ideal Couples Retirement
- What is your vision of an ideal retirement
lifestyle-leisure filled, or active? If one partner wants to see the world, and
the other prefers to stay at home gardening, negotiation and compromise is
- Have you individual and joint goals for
- What do you plan to do differently in
- Have you pre-tested your retirement plans,
e.g. Hire and tour in an RV, before purchasing and committing to an RV
- Have you shared your non financial retirement
planning with your spouse or partner?
- Are you both involved in retirement
financial planning? Have you estimated how much income you
would require to support your retirement lifestyle? Do you know where important
documents regarding savings and investments are kept? Could one of you take
over, if needed?
- Have you an agreed timetable for
retirement? Are you both retiring at the same time? Do either of you plan to continue
working part time?
- How will you replace your work role with an
alternative source of meaning and fulfilment?
- Are you ending a career with unfulfilled
ambitions, as you contemplate the gap between your dreams as a young person,
and what you've actually achieved?
- Do you look forward to holiday breaks
together, engaging in social activities, exercising together, walking, jogging,
and swimming or gym activities?
- Will you each keep in contact and make time
for relationships with friends, as well as keeping up with personal hobbies and
- Retirement will give you the possibility of
joining an active retirement community, with time for involvement in local or
other activities. How do your respective personalities respond to this
- Are you aware that the secure social
contacts facilitated by work may not be easily replaced by individuals with a
- Are you in agreement on the degree of
obligations and responsibilities to your adult children and family?
- Do you agree that each should continue to
have the space to follow their chosen pursuits outside the home?
- Have you discussed how your roles may
change regarding household tasks post retirement? Prior to retirement one
partner may have assumed more responsibility for - gardening, cooking, washing
up, laundry, paying the bills, and general maintenance.
- Have you considered the need for personal
space within the home, a place where you can be alone to concentrate or relax?
- Have you a plan for sharing household
responsibilities in a different way? New house rules should be by agreement and
should never give rise to critical comparisons.
- Where do you plan to live in retirement?
Will you stay put, move to a different part of the country, or retire abroad?
Health and Wellbeing
- Have you a plan to maintain your health and
wellbeing, whilst acknowledging that at some stage you are likely to encounter
- Do you understand that occasional
depressive feelings, and health concerns, are a normal occurrence in this life
Have you considered seeking the assistance of a retirement coach
in discussing the above issues? Are you open to participating in that process
with your partner?
you a couple's retirement story you would like to share
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