A new study published by Fidelity Investments finds that couples approaching retirement are often not aligned in their expectations.
The report states that nearly two-thirds, or 62%, of couples approaching retirement don’t agree on the age they will retire. Further, nearly half of couples don’t agree on whether they will continue to work during retirement.
Less than half of the couples surveyed (41%) stated they are handling investment decisions jointly. The result is that only 35% of wives surveyed said they were comfortable assuming household retirement finances if needed.
Wives surveyed also had a lower threshold for risk, with 21% stating their main objective was preserving wealth (a key reason to obtain long term care insurance).
The survey makes clear that as Americans age and approach retirement, they need to be clearer in their retirement and long term care financing plans.
Filed under: Uncategorized