When Fidelity Investments asked couples how much they thought they’d need to save for retirement to maintain their current lifestyle, 49%said they had “no idea.” Over half the survey respondents – 54% – disagreed on the amount needed to retire, and 43% had differing answers when asked their planned retirement age.
In some ways, that’s not surprising – many couples disagree on financial and lifestyle matters long before they’ve stopped working. But adjustments can become more difficult in retirement, when you’ve generally stopped accumulating wealth and have to focus more on controlling expenses and dealing with unexpected events.
Ultimately, the time to talk about and resolve any differences you have about retirement is well before you need to. Let's look at some of the key areas where couples need to find common ground.
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