Retire Richer: 3 Ways To Get on the Same Page as Your Partner
Written by
Emily Fowler
Edited by
Jenna Klaverweiden
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Most couples think they’re aligned on retirement, but the reality can be more complicated. According to Edelman Financial Engines’ Everyday Wealth in America 2024 report, 67% of those surveyed agree with their partner on their retirement vision. That still leaves a sizable number who don’t, setting the stage for conflict over how to spend, save and invest for the future.
Kelli Smith, director of financial planning at Edelman Financial Engines, sees the same key disagreements come up repeatedly.
“Some of the recurring areas where couples disagree include travel, purchasing a vacation home, the kind of care they want to plan for later in life and how much money they want to leave to their beneficiaries,” she said.
Getting on the same page takes open conversations, clear planning and sometimes a little outside help.
Start the Tough Conversations Now
Not all couples naturally discuss money, lifestyle and long-term goals. Some assume they’re aligned because they’ve built a life together, but that doesn’t mean they see retirement the same way.
In fact, Smith pointed out that over half (52%) of survey respondents reported fighting with their partner about finances. The key is communication.
“Our EWIA report from 2022 actually found that people who discuss their finances in detail were twice as likely to say their relationship was stronger than ever,” she said.
That means talking openly and regularly about priorities, trade-offs and expectations — whether that’s traveling the world or settling into a quiet retirement close to family.
Find a Middle Ground on Risk
Couples often have different levels of risk tolerance when it comes to investing. One may want a conservative, low-volatility approach while the other sees aggressive investing as the path to long-term wealth.
Smith helps couples navigate this by asking questions about their fears and experiences. “It’s important to explore why somebody feels a certain way about investment risk. Did they have an experience? Would educating them with some financial or market concepts or history help?” she explained.
Perhaps it would help a risk-averse partner to see how much extra savings is needed to offset lower returns, for example, whereas a risk-tolerant spouse may need to see how volatility can impact withdrawals.
Keep Retirement Plans Realistic
Underestimating expenses is one of the biggest mistakes couples make when planning for retirement.
“A lot of couples will tell me their expenses are far less than the income they bring home, which means they may be disappointed in retirement and truly have less to live on than they’ve been spending,” Smith said.
This is where regular financial check-ins matter. If retirement is still a way off, yearly reviews would probably work. If a couple is closer to retirement, however, more frequent check-ins would be helpful. Checking in on spending, adjusting savings and being honest about financial habits ensures the plan stays on track.
Retiring richer isn’t about having more money. It’s about having a shared vision. That means talking, planning and adjusting along the way. Couples who put in the work now will be the ones who retire stress-free together.
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