Retiring as a couple

Selling or downsizing the home might be one of the decisions a couple has to make when planning retirement.

Preparing for retirement is hard enough when you are a single person, but when you are a couple, it can be a delicate road to tread.

It’s made harder if there is an age difference and one partner retires while the other carries on having to work. For some, it makes no difference but for others, it needs effective communication and forethought.

When do you retire?

Everyone has different circumstances, but you do need to sit down with your partner and make some decisions well in advance of retiring. Many couples decide to retire together so they can enjoy doing activities together like travelling and spending time with family.

Others are quite happy if one works a little longer or maybe they are younger and not eligible for superannuation yet.

Finances

As a retired couple you do need to decide on how to manage your finances. This does require careful thought when the time comes and there is no longer a pay cheque coming in.

Decisions that need to be made

If you are both going to retire at the same time, you need to decide if you need two cars. You may decide to change from being a two-car family to one. And then there is housing. Are you going to stay living in the same house or look for something smaller?

Household chores

Communication is needed when it comes to the household chores. Often a working partner will expect more chores to be done by the partner who has retired, but this is not always the case, and this can cause a little friction in the home. If you discuss this and sort it out right from the start, it will make for a happier life. Retiring together means the chores can be shared, but you do need to decide who is going to do what.

Too much togetherness?

Pursuing separate interests and social groups for retired couples is a healthy option and it means that when you come together again, you have interesting things to share and talk about. It could be that one partner goes off to a gardening club once a week and the other enjoys a local book club. Making sure you both spend quality time apart on a regular basis opens up all sorts of possibilities that can make you feel better as a person and enrich your relationship.

Purpose and structure in your week

Retirement is meant to be a time to take life at a slower pace, indulge in your hobbies and enjoy your family and friends. Honest communication with your partner is essential and there may be a need for compromise. It is not always going to be smooth sailing and having some structure and purpose to your week can help your relationship.