Couples should think as a team for retirement planning
A new survey conducted by Harris Interactive has revealed differences in saving and spending tendencies for men and women, and experts suggest that the results show how couples can come together to plan retirement and build a nest egg with specific savings strategies.
Overall, the findings showed that 88 percent of Americans keep their financial promises to appear trustworthy to loved ones. Wonder why this sometimes proves difficult for both men and women? Male respondents were more likely to blame time constraints and forgetfulness on savings issues, while women attributed the problem to "finances," which likely refers to volatility in investments and unexpected costs.
Both genders seemed to have their strengths, as well - men were more likely to invest and save for goals such as retirement, while women were more likely to set up an organized budget.
"By working together and building on each other’s strengths, couples can find ways to help each other keep their promises and reach their goals - whether it's a promise to save... stick to the family budget or provide a fruitful retirement," said Dr. Kathleen Gurney.
She recommends starting a team strategy for saving funds, a practice which can be key for couples who are planning - or already enjoying - retirement. Instead of viewing financial reminders as nagging, think of them as helpful. Additionally, both parties should be fully committed to a dependable and accountable financial plan. One way to ensure that a couple is on track is to have a shared goal, such as a vacation or early retirement.
In the intimate settings of Del Webb retirement communities such as Sun City Peachtree, residents often come together to share their investment strategies in weekly Investment Club meetings. This can foster a welcome atmosphere that can be useful for those who are still working part-time or looking for better ways to save or diversify their portfolios.
You might also find these articles interesting.
Baby boomers are more tech-savvy than older adults of generations past. Whether they're updating their Facebook feed, picking up the latest release of the iPhone or checking their email on tablets, retirees are becoming increasingly connected.
Baby boomers are helping reshape retirement in a wide variety of ways. Some of them are big changes - such as working longer or heading back to the classroom - while others are more geared toward healthy living and staying active.
Since it was signed into law in 2010, the Affordable Care Act (ACA) - often referred to as Obamacare - has received a great deal of attention.
When Congress reached a deal to avoid the fiscal cliff, the reaction was generally mixed, but baby boomers heading toward retirement were given some good news.