Maybe it’s your time for retirement. You’ve worked hard, saved enough money for a comfortable lifestyle, and you’re looking forward to spending your time volunteering, traveling, or relaxing. But what happens if your spouse decides they want to continue working? Do the vacations now become solo?
As reported recently in the Wall Street Journal, a study from Fidelity Investments found that more than half of Baby Boomers say they disagree with their significant others about their retirement plans.
“Many women have entered the work force later and are at their peak when men slow down and want out,” Dorian Mintzer, retirement expert and author, told the newspaper. “The timing can create some struggles.”
The news source reported that fewer than half of Baby Boomer partners retire within two years of each other. Currently, men retire four years later than women.
Traditionally, men were the primary breadwinners and when they retired, they could look forward to a company pension which would provide enough support for a comfortable retirement lifestyle, but as fewer employers offer company pensions, and as more women are in the workforce now than ever before, negotiating retirement plans, especially when assisted living or Alzheimer’s Care communities are involved, can become tricky.
But open communication and planning are the key.