Many of you know that I got married almost a year ago and we have settled into married life pretty well! I love being married, I love that I have someone to lean on, share with, and most importantly plan with! My aunt just retired in October and bought a house very close to mine and will be moving from Boston to south Florida in the next couple weeks. My aunt was never married and didn’t have kids so my brother and I are it for her. Since she is moving from out of state and very close to me I have been handling a lot of the preliminary matters to make it easier for her.
I have helped her with a budget after retirement and it’s not easy! Check out this easy budget for retirement calculator that I used with her and Jamie and I have looked at as we start to plan for the future and our retirement.
Needless to say between helping her plan her retirement and reading this article on cnn.com about tips for planning for your retirement, it got Jamie and I talking about retirement. I think as a married couple it’s important we plan for our future retirement!
That retirement calculator sparked a definite conversation between Jamie and I as we generally have different financial outlooks and strategies. He handed the finances over to me when we got married and I think he’d rather just let me make the financial decisions. But I want it to be team effort and we both have tendencies to not save. we aren’t crazy spenders per se, we just don’t think of saving like we should. I decided to look at the Genworth website since they make the retirement calculator and read about their suggestion to have an annuity in your retirement.
I hadn’t considered annuity as a good form of planning for retirement but once I understood that the longer you live the more money you make with an annuity the stronger it sounds a solid foundation for retirement planning. There are various types of annuities and you should definitely investigate them as a retirement planning tool when you start to plan.
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