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Couples Fail To Discuss Retirement

More than two-thirds (68%) of not-yet-retired Canadians aged 50 and older have yet to discuss their hopes for their post-career lives with their spouses or partners, says the annual ‘RBC Retirement Myths & Realities Poll.’ Three of the topics these Canadians have been most reluctant to discuss with their significant others are how either will manage if the other encounters health issues (86%); how either will manage if the other passes away prematurely (81%); and what activities they will do in retirement (65%) "Couples often have more conversations about what they'll be doing over the summer or winter holidays than what they hope their retirement together will be like," says Bill Hill, national retirement planning consultant at RBC. "Yet one of the most important discussions you can have as a couple in your 50s or older is around the future lifestyle you're hoping for when you're no longer working 9 to 5. You want to do everything you can now, to ensure your retirement years will be equally enjoyable for both of you." The poll also revealed that men and women have very different expectations about how they will occupy their time during retirement. While 57% of men expected to spend more time with their spouse or partner, only 52% of women expressed the same sentiment. Women were much more interested in spending more time with family other than their spouses or partners (53% compared to 37% of men), with friends (51% versus 36%), and as volunteers (63% versus 50%).

Courtesy of Benefits and Pensions Monitor website News Alerts 

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