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Sex and Retirement, sort of.
Old 04-26-2007, 08:34 PM   #1
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Sex and Retirement, sort of.

http://www.investmentadvisor.com/pri...=&article=7641

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Joint involvement in their finances was also low on the list of priorities, as only 23% of the spouses said they partnered in making financial decisions. Nearly two-thirds, or 63% of the couples polled, said they didnít consult with each other on financial matters. Of those who did take counsel with each other, the study found that they are generally older, are more prepared to deal with unexpected crises in retirement, and are more optimistic about their retirement.
Pretty much like it is at my house...but I still am trying after 30+ years.
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Re: Sex and Retirement, sort of.
Old 04-26-2007, 09:25 PM   #2
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Re: Sex and Retirement, sort of.

As it is at my house too.

I actually kind of like it, as it lets me (the control freak) implement the investments as I see fit, without any concerns from my other half, nor any need to educate my other half. I'd have to start with stocks vs. bonds, how volatility is your friend over time, etc.... and if I don't have to do that, all the better in my view!

- John
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Re: Sex and Retirement, sort of.
Old 04-27-2007, 03:44 AM   #3
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Re: Sex and Retirement, sort of.

DW is not too interested in managing the money. So I do it. I am coaching her and intending to set things up so she knows what to do if something happens to me. We have an estate attorney. But so far, I have been the financial advisor. Since we will ER in 4+, I am lining up a financial advisor to cross check our plans. This will be her source of fina advise if something happens to me. I will make sure she understand the traps and a common sense plan to navigate the waters. I also intend to work closely with our attorney to have a plan incase we become unable to make financial decisions.

What we all need to do is plan for the time when we are both possibly unable to make financial decisions. This might be best done with a trust using an estate attorney. This can put some oversight into the process and what happens with (and to) the money. That way if you and spouse are unable to make decisions... and little johnny is an inept boob (even though you may love the well meaning son...) he will not ruin you (financially). Beleive it or not, there is a high occurance of elderly people have their money p!$$ed away by someone up to no good or just incompetent and making bad decisions.

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Re: Sex and Retirement, sort of.
Old 04-29-2007, 11:41 AM   #4
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Re: Sex and Retirement, sort of.

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Beleive it or not, there is a high occurance of elderly people have their money p!$$ed away by someone up to no good or just incompetent and making bad decisions.
You are undoubtedly accurate. However, I doubt that many of them are regular visitors to this place of financial sanity.
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Re: Sex and Retirement, sort of.
Old 04-29-2007, 12:35 PM   #5
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Re: Sex and Retirement, sort of.

I expect to have more of it in retirement.

Nooners. Definitely more nooners.
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Re: Sex and Retirement, sort of.
Old 04-29-2007, 02:13 PM   #6
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Re: Sex and Retirement, sort of.

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I expect to have more of it in retirement.
Why wait for retirement?
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Re: Sex and Retirement, sort of.
Old 04-29-2007, 02:49 PM   #7
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Re: Sex and Retirement, sort of.

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Originally Posted by mickeyd
Why wait for retirement?
Monday-Friday 6:30-7:00 is currently booked for the next 2-3 years.

All kinds of possibilities open up after that.
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Re: Sex and Retirement, sort of.
Old 04-29-2007, 03:25 PM   #8
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Re: Sex and Retirement, sort of.

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Joint involvement in their finances was also low on the list of priorities, as only 23% of the spouses said they partnered in making financial decisions. Nearly two-thirds, or 63% of the couples polled, said they didnít consult with each other on financial matters. Of those who did take counsel with each other, the study found that they are generally older, are more prepared to deal with unexpected crises in retirement, and are more optimistic about their retirement.
It used to be like this in our house until our best friends had a terrible experience about 6 or 7 years ago. "Bill" looked after all the finances and they were multi-millionaires although Bill was still working at the same place as myself. We lived a very short walk from one another and spent a lot of time together outside of work. When Bill finally decided to retire at age 62 his last day was to be Dec. 31st. We car-pooled on Dec 24th which was my last day in the office for the year, and on Dec 30th Bill's wife called me from the emergency room. He had dropped dead in the kitchen. Even though he was apparently in excellent health he had a shortage of potassium and his brain stopped sending the electrical signals to keep his heart beating.

Anyway, it turned out to be a huge hassle for his wife because she knew absolutely nothing about their finances which were quite extensive. A few weeks later night classes were available on planning for retirement, investing etc. DW signed us both up and since then she has kept up a keen interest and I involve her in all the things I do, including the routine annual re-balancing (or twice annual if it gets out of balance by 5%).
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