Real Answers for Life’s Money Challenges
Im 53 years old and started saving for retirement late.
I was floored by her answer.
She wasnt moved at all by my explanation.
What can I do to convince her to save for retirement?
Listen earnestly to her answer.
Without launching a debate, talk to her about why youre saving the way you are.
In both cases, each of you should only talk about yourselves.
Talk about what you each believe to be true about work, spending, saving, debt and investing.
Talk about when you each expect to retire and what you each imagine doing in retirement.
Considering questions like these can lead you to the reasons you and your wife are misaligned on retirement planning.
Maybe she mistrusts the stock market.
Maybe she expects to earn money long after youve retired.
Maybe she wants to sell the house and downsize to a rental.
Maybe she harbors fears of scarcity that make it difficult to sacrifice a portion of her paycheck.
Maybe people in her family have died young, and planning for old age brings up those traumas.
It sounds appealing right?
Check it out here!
Dana Miranda is a Certified Educator in Personal Finance, author, speaker and personal finance journalist.