Retirement Basics: What Every Spouse Should Know

Apr 2, 2025

Ask episode

Chapters

Transcript

Episode notes

💬 Show Notes

In this episode, we kick off a month-long series on retirement basics, emphasizing the crucial role of partnership in planning for retirement. We discuss why it's vital for both spouses to be actively engaged in financial conversations, ensuring that neither partner feels overwhelmed or excluded. Plus, we hear inspiring stories from a couple of listeners who are thriving in their retirement journeys! Don't miss this episode!

OUTLINE OF THIS EPISODE OF RETIREMENT ANSWER MAN

(00:38) We're starting a month-long series on retirement basics.
(00:56) Today we are going to talk about what every spouse should know about their retirement plan.
(01:45) It's important for each spouse to delegate responsibilities when planning for retirement.
(03:00) Roger talks about the pressure of being the retirement planner in a couple and the risks of being the non-planner.
(05:00) Audio clip from our paraplanner Erin about a recent experience volunteering for Tax Aide.
(07:40) What spousal participation should there be in retirement planner meetings? And what meetings need to happen?
(08:07) Roger goes through the four initial meetings of building a retirement plan of record.
(15:19) At least twice a year, the non-planner spouse should participate in a planner meeting to refresh all of these things.
(15:30) What should the planner spouse do to help create a productive meeting?
(17:45) What are the risks as the financial manager spouse?
(19:29) What should non-financial manager spouses do?
(22:50) Roger talks about what the non-financial manager spouses should know.
(25:30) What should your advisor do if you are working with one?

PUBLIC SERVICE ANNOUNCEMENT RELATED TO SOCIAL SECURITY

(27:50) WEP and GPO changes are causing confusion with Social Security recipients.

ROCKING RETIREMENT IN THE WILD

(29:56) Listener shares about the challenges of decumulation and overcoming a lifetime of frugal habits.
(32:28) Listener Kathleen talks about dog-sitting in retirement.

SMART SPRINT

(33:53) In the next seven days, review the time sensitive action items that may apply to you when it comes to the month of April.

BONUS

(35:19) Roger reads an excerpt from his grandfather's WWII journal.

REFERENCES

Retirement Answer Man
Sign up for The Noodle (previously known as Six Shot Saturday)

Show notes created by https://headliner.app