Couples should share for a better retirement

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Couples should share for a better retirement

Tue 19th Feb 2008

Couples who share the responsibility of dealing with financial issues are likely to find themselves in a better position when it comes to retirement, financial services provider Hartford Life has found.

Mike Kalen, president and chief executive of the company, said that their research revealed that couples who "divide and conquer" their responsibilities are more likely to have at least £50,000 to take them into retirement.

He added that this meant couples are "more likely to enjoy retirement once they are in it".

Hartford Life has found that three distinct 'financial planning personalities' can be discerned amongst couples: 'joined at the hip', 'going solo' and 'divide and conquer'.

It recommends a 'divide and conquer' strategy, where couples have distinct responsibilities for different parts of the family finances.

The group found that 73 per cent of retirees that fall into this category are enjoying their retirement as much or more than they thought they would, compared to 67 per cent of 'going solos' and 72 per of 'joined at the hippers'.

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