Spouses Are Hiding Their Retirement Savings From Each Other
A Harris Poll survey of 1,800 couples shows how hard it can be, or how reluctant some people are, to talk about money. Is it that they do not want to share this information, or don’t know how to speak about financial issues?
In addition, many couples don’t share fully financial details about private accounts, the nature of their investments or the amount of savings. Is it that their expectations for how to spend and save money ?
In a survey conducted last year by Fidelity Investments, they found that although 72 percent said they were good communicators about financial matters, 43 percent couldn’t correctly say how much money their partner makes. Of that 43 percent, 10 percent were off by $25,000 or more.
Couples were also largely clueless about how much they’d need to keep up their lifestyle when they retired, with 48 percent having “no idea” and 47 percent disagreeing about the amount.
