A Fidelity survey has revealed that about 60 percent of men hope to spend more time with their wives during retirement.
This makes sense. For years and years they’ve spent time at work and missed out on opportunities to go to lunch with their spouses, catch matinee movies, and eat a leisurely breakfast together. Let’s dig a little deeper into what men want out of retirement.
A Nice, Long Vacation
Let’s face it, when you’re working, vacation is never long enough. Just when you’re starting to acclimate to your holiday, it’s time to come home to a million emails and a week’s worth of catching up. It’s true that many men see retirement as a nice, long vacation, and if you’ve planned and saved for your retirement, then this can be your reality.
In order to make retirement as carefree as possible, make sure you have a written retirement plan that accounts for any expenses you might encounter, such as aged care costs, home maintenance issues, and any traveling you would like to do.
Time With Your Spouse
During your earlier years, children and work probably ate up most of your free time, leaving you little time alone with your wife. It’s only natural that you would want to use your retirement to spend time with the one you love.
In the Fidelity survey, women showed an overwhelming desire to be available to help children and grandchildren, and this can become a conflict in some marriages. If you anticipate this being a source of conflict in your own marriage, consider changes you can make to accommodate both of your desires. Perhaps when you downsize your home you could move closer to where your children live or you could divide your holiday time between children and exotic places you’ve always wanted to see.
Financial Security for Men in Retirement
Going into retirement with a healthy super account and a plan for your future means you can relax, enjoy your freedom, and spend your time any way you want to.
Getting to that point takes a lot of work, however. In order to truly sit back and enjoy your retirement, you should have the following items in order.
- A strategy for transferring and protecting your assets
- A will
- Power of attorney
- Life insurance
- Guardianship for dependents
- Superannuation
An Altus Adviser can help you to make sure all of these things add up to a solid retirement plan for you and your spouse. For more information about retirement planning, download your free Guide by clicking below:
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