1 Important Conversation to Have With Your Spouse Before Retirement

Deciding who to marry is arguably one of the most important decisions you'll ever make. It affects everything -- from where you live to your overall quality of life.

But here's the kicker: It can also shape the kind of retirement you'll enjoy, even if that feels a long way off. Before you and your spouse hang up your careers, there's one important question you must absolutely ask.

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What does retirement look like to you?

Talking about money can be a bit tricky, but if you're planning for the future with your spouse, it's a conversation you can't afford to skip. To lighten the load, try starting the conversation by asking your spouse what their dream retirement looks like. And if you need to dig deeper, here are some questions to consider:

• Where do you see us living in retirement?
• What type of lifestyle are you hoping for?
• Do you see yourself traveling often?
• How do you want to spend your time?
• Are there any hobbies or activities you've always wanted to try?
• How important is being close to family and friends?
• Are you open to working part-time or doing some consulting during retirement?

Once you've nailed down the vision, you can work backward to figure out what steps you need to take to reach the finish line. That includes diving into the numbers. Think about how much that dream might cost and what sources of income you'll have in retirement to support that lifestyle.

Leave room for surprises

No plan is 100% bulletproof, and life can throw curveballs. Maybe the market doesn't deliver those superior returns you were banking on, an unexpected medical bill pops up, or your spouse suddenly has a change of heart about what they want retirement to look like.

All told, you might not be able to plan for every possible scenario. After all, predicting the future is pretty much impossible without a crystal ball. But you can give yourself some breathing room in your plan. And here's a good tip: Make it a habit to track your progress and review your plan regularly.

Doing that will help you see if you're on track or if it's time to crank up your savings. Plus, it's a great way to make sure your goals still make sense for both of you.

Get the ball rolling

Now that we've tackled the tough stuff, it's time to work the plan. Sure, retirement might feel far off, but it can sneak up on you faster than you think.

Figure out what you plan to commit to over the next 30 days and the next year to bring those retirement goals closer to reality. Not sure where to start? Here are a few ideas:

• Create an emergency fund: Consider setting aside at least three to six months' worth of expenses in an emergency fund. Depending on your situation, you might need to bump that number up. Having a financial cushion gives you the flexibility to handle emergencies that pop up and makes it easier to stay on track with your long-term goals.
• Be mindful of your spending: Make sure you're not living above your means. You don't want those habits to spill over into retirement, especially if you'll be living on a fixed income. Consider creating a budget and reviewing your biggest spending areas. Then, look for opportunities to trim fat or find ways to boost your income, so you can sock away more money for retirement.
• Take advantage of retirement accounts: If your employer offers a 401(k) retirement plan, that's a great place to start. Make sure you understand the details of your company's 401(k) plan, especially if it offers an employer match. You can also open an individual retirement account (IRA), like a traditional or Roth IRA, to give yourself even more options for saving and growing your nest egg.

Retirement planning doesn't have to be stressful. It can actually be a fun activity that you tackle with your spouse every month, quarter, or whatever interval works best for you.

While crunching the numbers might not be everyone's idea of a good time, tracking your progress and seeing how much closer you're getting to your goals can be pretty exciting. If you get your ducks in a row now, you'll set yourselves up for a much more rewarding future.

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