Recent had a talk with my wife about what retirement finances could look like. I still plan on working after retirement (4 yrs from now).
I would like for her to not have to work 40-50 hr weeks until she is in her 60's, which she seems to think that what she has to do.
I talked about reverse mortgages, annuities, 401k planning but it's never enough money on her opinion. She talks about leaving a legacy for our kids, I would rather enjoy that money when we can for experiences now (within reason).
I just want to make sure my kids aren't left in debt from our passing or on the hook for elder care.
Am I crazy to think that?
Posted by ASOG_Recruiter
2 Comments
I don’t think it’s crazy. If you’re able to retire, you are still going to have stuff left over after you pass.
I think it’s hard for people to think introspectively and figure out what they want. There’s the saying “you don’t retire from something, you retire TO something”. It sounds like your wife doesn’t know what she wants to retire to.
I’m only in my 30s, so take this with a grain of salt, but my wife and I have created shared goals that we want to accomplish at intermediate stages of our life. We then figure out how much we want to save for those stages. We align these stages with our bucket list. It’s worked out well so far and I hope it continues that way. Figured I’d just give you another tool in the belt and see what works
Good luck!
I’d meet with a Certified Financial Planner, like from Schwab. I’m a Schwab client so it’s free, and they’re a fiduciary and don’t push specific products, just run the numbers and give you different scenarios. It’s well worth it in my opinion.