How do you imagine your retirement? Traveling the globe, or perhaps relaxing on the beach with your spouse? Maybe you want to explore a long held passion, or just spend time with family. Whatever scenario you picture, you should talk about it with your spouse, because when your expectations are aligned, it will be easier to plan for that shared future.
One way of gauging how prepared you are for retirement is to compare the lifestyle you have in mind to the funds you actually have saved. For example, if you both want to be able to travel, you need to build that into your retirement budget. Funding that dream may mean a compromise – maybe one of you continues to work a while longer, or you might choose to downsize to a smaller home (and smaller mortgage!).
The key is, talk about your plan so you can work together to make it a reality.
The information on this page is provided for educational purposes only and is not tax, legal, financial planning or investment advice. Neither the information nor any opinion expressed in this section constitutes an offer to buy or sell any securities or advisory products. The information provided is general and is not information reasonably sufficient upon which to base an investment decision and should not be considered a recommendation to purchase or sell any particular security. You should not regard this information as a substitute for the exercise of your own judgment. Investing involves risk.