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Retirement Planning > Retirement Investing

A failure to communicate

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If you think you have trouble communicating with your boomer clients, it’s nothing compared to how they communicate with their spouses. A recent study of over 500 boomer couples by Fidelity shows less than half of couples make budgeting decisions together and only 38 percent agree on retirement investments. Nearly half of couples – 49 percent – expect a comfortable retirement, but 42 percent disagree on what kind of lifestyle they’ll have. And, 10 percent fewer couples have completed a formal retirement plan than the last time Fidelity conducted the survey in 2007.

The survey found some surprising statistics regarding investment products. Thirty-nine percent of couples don’t agree on whether or not they own an annuity, and 26 percent don’t agree that they own an IRA. Although 80 percent of couples agree that at least one spouse owns life insurance, almost half of those couples agree they don’t have enough coverage.