A recent survey by Fidelity Investments reveals that less than half of all couples participate equally in planning for retirement. Just 41 percent of couples make investment decisions together; in the majority of families one spouse handles the finances. Further, less than twenty percent of couples say that either partner is prepared to assume responsibility of finances if need be. The trend is worrisome, say experts, especially since just 35 percent of wives – who are statistically more likely to survive their husbands -- say they have the confidence to manage money matters alone. How are retirement plans handled in your house? Do both you and your spouse know where critical documents are kept? Do you agree on savings goals, investment strategies, where – and when - you hope to retire? What are your plans and wishes should either of you become ill or incapacitated?
Guest:
Kathy Kristof, contributing editor with Kiplinger's Personal Finance Magazine and author of Investing 101