What Happens When One Spouse Wants To Retire, The Other Doesn’t?
This is becoming a common challenge as boomers age and spouses find they have different trajectories imagined for their later years. A client forwards this excellent discussion of the issues that arise from the NY Times. A short list:
- Different daily schedules
- Different abilities to travel
- Different priorities around discretionary spending
- Whose money is it when only one is still earning?
- The “leap” when starting to dip into retirement assets can be a bit scary.
These are only some of the challenges and many couple do not even have the basic conversation about how they are going to cope. The situation can be unexpectedly stressful on a marriage. For anyone in, or considering, an extended period where one spouse has left work but the other has not, I strongly recommend the Times article. And making time to discuss and negotiate how to accommodate each person’s wishes.Tags: Employment, Retirement