Valley First

Retirement—Getting on the same page

Does your partner’s vision of retirement match your own?

You may have envisioned a retirement filled with variety—travel to Europe, taking the grandkids to Disney, learning a new language, daily tennis games with your spouse? Does he or she share that vision?

Couples often think they are on the same page because they have conversations about how and what to save, but when it comes time to actually planning exactly what they will do and how much money that takes, they can find themselves with very different ideas. Don’t assume you know what each other wants until you talk about it.

Here are some questions and tips to help navigate that conversation.

Age

  • At what age do you want to retire?

Daily Activities

  • Does retirement mean stopping work altogether? Or starting a new venture?
  • How do you see yourself spending each day?
  • In your plans, are you alone? With friends? Your spouse? Is that realistic?
  • Will you eat out more or less than you do now?
  • Will your vision require more club memberships or lesson fees?
  • Would health challenges affect that vision? Do you expect your health to change in 10 years? How might it change?

Housing

  • Where do you wish to live? Will you relocate?
  • Will you downsize the house? Move? Relocate to a different region altogether?
  • Will you need to pay strata or condo fees?

Travel

  • Do you want to travel? Where do you want to go and for how long? Always to the same place?
  • How many trips do you want to take per year?

Spending

  • Do you know how much you each spend on monthly expenses?
  • Can you estimate if you will be increasing monthly spending or decreasing it?

Current research suggests active retirees need to replace 75 to 85 per cent of their pre-retirement income.

Armed with the answers to these questions, your accredited Valley First investment expert can help your devise the best strategy to meet your future needs and ensure your retirement vision meets both of your expectations.

Talk to us

Whether you’re looking for more information, or you’d like to let us know how we can serve you better, we want to hear from you.


Contact us today to find out how we can make things simple for you!