In this guide
Working out how you want to spend your retirement and how you will finance it takes careful thought and planning.
In some ways, this process is easier for couples. A problem shared is a problem halved, as the saying goes. While super accounts can’t be held in joint names, like a bank account, super does provide opportunities for couples to split or share contributions. More on that later.
And if you’re worried about whether your savings will last the distance, two people generally live more cheaply than one.
But as couples know, making decisions about lifestyle choices and money that both parties are comfortable with can be challenging. All the more reason for both parties to be involved in the retirement planning process from the outset.
There are also retirement planning considerations for couples that singles don’t face. Generally, one of you will outlive the other, but there is no way of knowing which of you that will be or how long the surviving spouse will live as a single person. These are difficult issues to think about, let alone talk about, but it’s important you do.
