Couple Retirement Planningby Debbie Vasen | More from this Blogger 21 May 2008 08:49 AM Ideally, couples should plan their long range and retirement goals together. Of course, it isn't always easy to formulate a plan that both agree on. As a couple, you will need to take the time to sit down and discuss both individual goals and joint objectives. If you take the time to work together and come to some agreement on mutual goals and expectations, you are far more likely to come out ahead. It is easier to gain financial momentum when a couple can combine their assets and strengths. You don't even have to have the same goals to do this -- just an agreement to work together. Each spouse should share his or her financial priorities with the other. These should be discussed in a respectful way. It is perfectly acceptable to have both individual and joint goals. The key is to be supportive of your differences as well as building on your similarities. All couples will have different ideas on when they hope to retire and what they hope to do. Therefore, it is critical to explore these opposing views early on, so you can begin to plan appropriately for them. The ultimately goal is to find a way to accommodate both individual's needs. Important questions to explore in these discussions are: 1. Are there significant age differences between you and your spouse that will affect timing on retirement? 2. When is both of your target retirement ages? 3. Do either one of you plan to still work in retirement, either freelance or part-time? 4. How is your current health? Given your current situation and your family history, what do you expect from your health in retirement? 5. Where do you want to live when you retire? 6. Do you have any special activities you want to do, like traveling or civic involvement? 7. Are there other financial obligations you will continue to have in retirement, like children? Give all of these questions serious thought before and during your discussions. Working through these details will help you ensure a successful transition into your last life stages. Related Articles: Learn more about Debbie Vasen  Debbie Vasen is a published web content editor and writer, as well as a freelance writer for various print publications. In addition to blogging at Families. Relevantmoney tags User Comments ana (20) 07 Jan 2009 06:04 AMNice Article! My wife and I are taking a double strategy approach. She is doing the normal career thing while investing in a 401k and mutual funds so we can retire when we are older. I am trying to start businesses and figure out how to increase our income and wealth in the short term in order to achieve retirement and the freedom that comes with financial independence at an earlier age. We both are doing pretty well in working toward our goals. We know we will be able to retire comfortably in the distant future and my businesses are starting to pick up speed so hopefully an early retirement is still a possibility. Also visit http://www.expertretirementplanning.com this site helped us a lot to plan. Community Tags long range goals, marriage, Retirement Planning Discuss this article
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