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Couples who plan together 'are financially better off'
20 February, 2008
Couples who want to enjoy their retirement should make sure they plan for their financial future and "communication is crucial" when doing so, it has been claimed.
Maike Kalen, president and chief executive officer of the Harford Life, said that research by his firm found that couples who first plan their finance and then "divide and conquer the responsibilities for carrying out or executing the plan" are more likely to be better off in retirement.
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He said that such couples generally had around £50,000 stashed away in savings and investments when it came time to use them.
The starting point for successful planning is "a full and frank conversation" between couples, about all aspects of their finances, Mr Kalen believes.
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Last week Des Hamilton of the Pensions Advisory Service warned that people were put off saving for a pension as doing so can involve making financial sacrifices some feel that cannot afford.
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