Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

Friday, November 25, 2016

How Couples Are Ruining Their Future Retirement

Retirement coupleCoupling can provide a lot of benefits, but there are many couples today who are not taking advantage of them. In fact, American couples could be making mistakes that are seriously undermining their financial advantage. One mistake is that the couples who are saving are doing so in the wrong accounts. Instead of first matching their earning in an employer-sponsored retirement plan, they are using savings accounts that have low interests rates, which makes it hard to grow your money. Additionally, couples are placing the responsibility for saving for retirement on one partner. Savings for retirement should be a shared effort between both partners, which helps to protect against uncertainties. Another huge problem is that couples are not discussing how much they need to save for retirement. Ultimately, it is important for couples to plan for their future retirement together. 

See Arielle O’Shea, How Couples Are Sabotaging Their Retirement, Market Watch, November 23, 2016.

https://lawprofessors.typepad.com/trusts_estates_prof/2016/11/how-couples-are-ruining-their-future-retirement.html

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