Couples avoid retirement talks One in 10

Couples avoid retirement talks

One in 10 couples over the age of 40 have never discussed their retirement plans, new research from financial services group Prudential has found.

Almost a fifth (19 per cent) have avoided having conversations about retirement in the last five years, while six per cent admit they have never discussed their general finances together.

The Prudential’s research also revealed:
Only 10 per cent have sought financial advice together in the past five years
25 per cent keep their current accounts separate
14 per cent said they or their partner have seen a financial adviser alone to discuss retirement planning
12 per cent have not discussed money for over a year
Money is the third most likely topic to cause arguments among couples.

The Prudential’s retirement expert, Vince Smith-Hughes, said:

“It’s easy for couples to put off conversations about finances, particularly longer-term issues like retirement planning, because it’s difficult to see any short-term impact.

“Avoiding the conversation is just likely to create a bigger issue in the longer term, so having open, frequent and early conversations about retirement planning really can help couples to remain financially secure.”

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