Jun 30, 2026
Over half (53%) of all working couples responding to a 2024 Fidelity Investments survey had conflicting ideas about how much money they need to retire. That’s not surprising, as the right amount can depend on the kind of retirement you want to live.
But it’s a problem, as couples must be on the same page about their plans during their golden years.
Advertisement
“In a healthy couple, a decision like retirement is approached with full transparency and enough time for both partners to process all the implications,” said Michele Christensen, an MA, relationship coach, and founder of Legacy Love. “Those implications include finances, but they also include time, solitude, privacy, the shared resource of your home, and the ways and quantity of time you spend together.”
Thanks for subscribing!
Read the best of Moneywise in 5 minutes or less.
By signing up, you accept Moneywise Terms of Use, Subscription Agreement, and Privacy Policy.
Unfortunately, when a couple discusses retirement but disagrees, this can create big problems. For example, let’s pretend we have a senior couple, Fred and Maryann. Maryann is turning 60 and wants to retire since the couple has over $2 million saved.
Fred really wants Maryann to work for another year to bank more savings. He grew up poor, always worries about money, and wants a larger cushion. However, Maryann doesn’t want to waste another year of her life. So, what should Fred and Maryann do?
Work with a financial professional to confirm retirement readiness
Since Maryann wants to retire but Fred is worried about money, working with a financial advisor could be a good first step. If an independent financial professional says that the couple has enough, Fred might feel better about Maryann giving up another year of income.
“A financial professional can help you look at your plan and see if it makes financial sense to retire,” Domenick D’Andrea, founder of DanDarah Wealth Management, told Moneywise.
D’Andrea added couples should confirm their savings will span at least 20 to 30 years while covering rising costs, due to inflation, and warned that you should take into account the impact of an early retirement on Social Security benefits, as well as plan for healthcare costs.
“This can help you and your spouse make an informed decision.”
Must Read
- The ultra-rich use these 5 real estate strategies to build wealth while they sleep — you can start with just $100
- Here’s the average income of Americans by age in 2026. Are you keeping up or falling behind?
- Insurance companies profit most from drivers who auto-renew without shopping around. Comparing 100+ quotes takes 2 minutes and costs nothing
Join 250,000+ readers and get Moneywise’s best stories and exclusive interviews first — clear insights curated and delivered weekly. Subscribe now.
Discuss your needs openly and look for compromise
Even if the numbers support Maryann’s stance, it may leave Fred feeling resentful that his position isn’t being heard, experts say. The prevailing thought may be a fear that whatever is saved isn’t enough.
In this situation, it’s important for the couple to communicate openly.
Advertisement
“The best thing couples can do is stop trying to prove their point and start trying to understand the deeper needs driving the disagreement,” said Mary McLaughlin, LCSW, a licensed clinical social worker and marriage counselor. “The goal isn’t to convince your partner you’re right. It’s to understand what each partner is protecting and longing for.”
Kiki Jacobson, a licensed mental health therapist at YourMoneyCounselor.com, agrees. “I encourage clients to get curious with each other and themselves about what retirement would give them that they’re missing right now or what are the big concerns that come up when thinking about the other person retiring. Once those honest needs are identified and communicated, compromise becomes easier.”
For example, if Maryann wants freedom and Fred wants security, the couple could work together to set a retirement budget that allows Maryann to retire early but that maintains a safe withdrawal rate so Fred feels more confident they won’t overspend.
Maryann could also phase into retirement, as a compromise. “Retirement doesn’t have to be a binary decision where you either work or you don’t,” said Christensen. “Many people wind down their careers in stages.”
The couple should explore these options together until they find a plan that truly makes them both happy.
You May Also Like
- JP Morgan sees gold hitting $6,000/oz before 2027 — and a Gold IRA lets you hold the physical metal while deferring the tax bill. Get your free guide from Priority Gold
- Dave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake — here’s what it is and the simple steps to fix it ASAP
- Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how
- Millionaires under 43 are reshaping investing — just 25% of their portfolios are in stocks. Here’s where their money is going
Christy Bieber has 15 years of experience as a personal finance and legal writer. She has written for many publications including Forbes, Kilplinger, CNN, WSJ, Credit Karma, Insurify and more.
