Couples, Should You Retire Together Or Separately?


For couples, one big retirement planning question can affect many factors of their shared retirement. That question is whether to retire together or to retire separately. Which is right for your family? Here is more information on each method.

Why Retire Together

Generally, couples who have planned out their retirement together are eager to do it together. If your retirement dreams include things such as traveling extensively or moving closer to your grandchildren, then you need to be available to enjoy these things as a couple. This is particularly important if your financial plan assumed you would do these activities in retirement as a couple rather than separately. 

Retiring together can also help avoid interpersonal conflict that can arise when one spouse gets to stop working while the other has to keep going to the office every day. This can lead to some emotional distance between the two and even resentment or jealousy. Keeping it equal may be better for the marriage. 

Why Retire Separately

Not everyone is ready to retire at the same time their spouse is. You may have a hectic, stressful job that you are eager to leave while your spouse enjoys their career more. In this case, forcing one to make a choice they are not ready for could put undue pressure on the whole situation. Instead, both are able to retire at a point when they are personally ready and willing. 

Money can be a big factor in when you choose to retire as well. If both partners start drawing down their retirement funds at the same time, then your nest egg may be depleted too soon. Delaying at least one person's retirement allows more time to build savings and benefit from interest and growth. Putting off your CPP checks can also mean bigger checks for one or both of you for the rest of your lives. 

How To Choose Your Path

Clearly, there are both emotional and financial reasons to retire either together or separately. The best way to make this choice is to work with a retirement planning service that is able to help you assess the unique situation of your family and help you determine if your retirement finances need to be a major consideration or if your emotional and marital health calls for a different plan.

Make an appointment today with a retirement financial planner in your state to get started. 

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