Retirement Planning For Couples
Communication is key to a fruitful relationship and retirement planning is no exception. It’s important to have an open and honest retirement plan in place to help prepare for your future together.
A retirement plan should put you and your partner first, and account for current and ongoing needs as you grow together.
At MyFuture, our Retirement Planning professionals are ready to put your retirement dreams to the test and build you a roadmap to get there. With unique retirement considerations, couples need to work with Qualified Financial Advisers who can help them put their retirement plans in action.
Retirement Planning For Couples
Every couple should discuss what their hopes and dreams are for retirement. The fun part is discussing all the things you want to do both together, and individually with all the time you will have.
It’s important to also take into account what will happen if one of you gets sick or heaven forbid, passes away. As upsetting as it can be, these discussions are integral to prepare you should the worst case scenario play out.
The good news is you can share in these discussions as a team. We suggest you:
Consider seeking retirement planning together as a couple from a qualified financial adviser (such as the experts at MyFuture)
Think about end-of-life choices and any financial legacy you’ll leave to loved ones.
As a couple, you have the added benefit of moving assets between parties to benefit from personal allowances and the amount of tax-free income you can earn between you.
Retirement Planning Goals For Couples
Whether you have more traditional retirement plans to live comfortably and simply or if you have loftier goals of a luxurious lifestyle, your retirement goals are within reach.
Whichever path you follow to your dream retirement, we’ll help you put the plan in place to get there.
It’s important to ask yourself these questions when making a plan for retirement:
- How much income do you have or expect to have to retire?
- When would you like to retire?
- Where do you want to live?
- What are you looking forward to?
- What lifestyle do you want for retirement?
- Do you intend to take any trips or make any large purchases?
- Do you want to continue working?
- Do you have any health concerns?
- What are your debts?
Once you’ve thought about how you intend to spend your retirement years, there are some more practical questions that will guide you in figuring out how much you need to save:
- How much do you normally spend from month to month?
- What is your life expectancy?
- How much money do you have saved?
- How long do you have to save and invest for retirement?
- What wealth building sources are available to you?
Get Ahead With Quality Financial Advice
Our Qualified Financial Advisers can help you achieve your retirement goals with a tailored financial plan and proven financial expertise.
When Should You Consider Retirement Planning?
Get started today! If you haven’t started planning for retirement, now is as good a time as any. The earlier you start, the more time you have to secure your future and achieve your dream retirement.
Retirement planning doesn’t have to mean making sacrifices when you’re young, but it does mean investing in your future. By understanding your finances, setting goals, saving, and investing, you’ll be well on your way to financial freedom regardless of your age. It can give you the freedom to spend time or money on what matters most and the confidence that your future is protected.
Retirement planning is not a rigid process. Instead, it means balancing your priorities and choosing how much you spend on the things you value most.
So, what are you waiting for?
What Is Retirement Planning For Couples?
Creating a retirement plan together that aligns as a couple is integral to your individual and shared financial independence and freedom.
It’s also important to express your individual goals to identify where they coincide and where they diverge so you can plan for all the possibilities. By discussing your priorities as a couple, you’ll be able to develop a retirement plan that gets you both going in the right direction, as well as working towards your goals as a couple at the same time.
At MyFuture, we have a wealth of experience in finding the right balance for retirement planning for couples and helping you both to identify and reach your financial goals.
Get in touch with us today for your FREE no obligation Discovery Session to find out more about our retirement planning for couples.
What is our 6-Step Financial Advice Process?
The 6-step financial advice process is the international benchmark for financial planning. This holistic approach is proven to increase the likelihood of you achieving your financial goals.
Understand Your Decision
We start by understanding your goals, financial position, and the decision you’re trying to make. You may already have done your own research, used AI, listened to podcasts, or compared options. That’s completely fine — our role is to understand where you’re at and where you feel stuck. We do this during a Discovery Session.
Validate, Refine or Rebuild
Next, we review your situation, run the numbers, and assess the options available to you. Sometimes your thinking is on the right track. Sometimes it needs refining. And sometimes a different strategy is required. Our job is to help you make a confident, well-informed decision based on your life, your goals and your long-term financial future.
Take Action
A good decision only matters if it gets implemented. Once you decide on the right strategy, we help you put it in place. Whether that involves restructuring lending, setting up investments, reviewing insurance, updating KiwiSaver, or working with other professionals. We don’t just hand you a plan and leave you to figure it out. We're here with you for the entire journey.
Stay Accountable
This is where long-term progress happens. We continue to monitor your position, review your strategy, and help keep you accountable as life changes. Whether interest rates move, your income changes, you receive an inheritance, buy a property, or simply need guidance on the next decision, we’re here to help you stay on track.
Frequently Asked Questions