Half of Couples Discuss Retirement Savings

Only 50% of the couples who participate in their workplace retirement plan talk about retirement savings and investment decisions with their spouse or partner all or most of the time, Lincoln Financial Group learned in a recent survey.

While 64% of couples in their 20s discuss these crucial topics all or most of the time, this drops to 56% for those in their 30s and to just 48% for those 40 and older.

“Our Retirement Power study showed that people participating in their employer-sponsored retirement plan are more confident and more optimistic today than they were just five years ago and that most understand how much they need to save to be on track for retirement,” says Jamie Ohl, president, retirement plan services at Lincoln Financial Group. “Now they need to start having conversations with their significant other about savings, and what they envision for their retirement.”

The survey also found a disconnect between the sexes when it comes to believing that they work with their spouse or partner to manage retirement planning for their household: 49% of women say they do this, but only 37% of men make the same claim.