What You Should Ask (But Probably Forgot) When Planning For Retirement With Your Spouse

Today’s Prep:

Did you take the trash out? Oh, and what is our income plan after one of us dies? One of these is a question you might ask your spouse regularly after dinner while the other one is important but often overlooked. We’ll talk about five questions you should start to ask now when it comes to planning your retirement with your spouse.

 

Equipping Points:

You don’t always know what is ahead in life, but there are a number of possible scenarios that are worth talking through with your spouse. It’s easy to get caught up in the mundane of daily life now, but have you discussed these questions regarding life in retirement?

What happens if you end up supporting elderly parents? Or your adult children? Or both? How will you handle emergencies? What’s it like to spend a lot more time together all day long?

You may be surprised by some of the answers. It’s good to remember that planning for retirement is more than just about having money. There’s a lifestyle and routine to consider. Maybe you’ll need new hobbies or a part-time job to keep you busy. Or maybe you’ll have more family members to care for at home.

You’ll want to figure out what motivates you in retirement, as well as what your income plan is. While these may not be typical dinner conversation, having the discussion now could save you from a lot of confusion or frustration down the line.

Listen to the entire episode above or click on one of the questions in the timestamps below for more details.

1:22 – Are you supporting your kids and your parents simultaneously?

3:24 – How does your family feel about you quitting your job and being home more?

6:15 – Are you retiring from your job or to something else?

8:48 – How will you be prepared to handle emergency fund expenses?

9:57 – What happens to the income plan after the death of the first spouse?

 

Related Resources:

Taking Care of Family

Grandma’s Financial Wisdom

Today’s Takeaway:

[spp-tweet tweet=”There’s nothing wrong with working in retirement and a lot of employers love hiring retirees because their work ethic is so great. –Eric Peterson“]

More From Eric:

The host: Eric Peterson - Contact - Call: (515) 226-1500

Subscribe To The Podcast:

Apple Podcasts  -  Google Podcasts  -  Spotify  -  Stitcher  -  iHeartRadio  -  TuneIn

Check out some other recent episodes

What 400+ Advisors Say Really Keeps Retirees Up at Night

April 3, 2025

What are Americans really concerned about when it comes to retirement? In this episode, we unpack the results of an insightful survey from Financial Advisor Magazine, which was completed by over 400 financial advisors. We’ll also compare these answers with the real-world concerns we hear every day from the clients in our own practice.

Read More

Bracket Busters and Stock Flops: The Risky Game of Picking Winners

March 27, 2025

March Madness is here, and just like filling out a bracket, picking individual stocks can feel like a thrilling gamble. But the odds of winning big are slim. In fact, history shows that most stock picks, like most brackets, end up busted.

Read More

Are Hidden Fees Draining Your Retirement Savings?

March 20, 2025

In this episode, Eric reveals the true cost of investing and how to protect yourself from unnecessary financial drains.

Read More

What Game Night Can Teach Us About Financial Planning

March 13, 2025

In this episode, Eric breaks down the surprising financial lessons hidden in classic board games, offering valuable insights to help you navigate your retirement strategy.

Read More

Mailbag – Upsizing, Financial Advisors & Business Owner Planning

March 6, 2025

Join us as we answer questions about the challenges of downsizing, the emotional aspects of planning for family gatherings, and the realities of transitioning into a financial advisory career.

Read More

Planning for Unique Situations in Retirement

February 27, 2025

While many face the same general retirement concerns, each individual’s situation is unique, requiring tailored solutions.

Read More

Planning for Kids, Grandkids, & Your Future

February 20, 2025

As many nearing retirement age are discovering, adult children and grandchildren can significantly influence financial strategies, making it crucial to understand how to navigate these relationships effectively.

Read More

Financial Planning Conversations for Couples

February 13, 2025

This episode is focused specifically on that planning we do with couples with insights on how we help them navigate tricky conversations about money and retirement.

Read More

Is Your Retirement Based on Wishful Thinking?

February 6, 2025

Many people fall into the trap of wishful thinking when it comes to what they expect will happen in retirement, but a successful retirement isn’t built on hope and assumptions.

Read More

Spending With Confidence in Retirement

January 30, 2025

Eric shares strategies to help retirees enjoy their savings while ensuring financial security.

Read More

Leave a Comment