Couples, Get Talking!

You married couples need to talk!

A 2009 Couples Retirement Study by Fidelity Investments reveals that among spouses born between 1937 and 1964, there's a lot of worrying going on: about the impact of market volatility and inflation on their nest eggs, and health care costs, among other issues. Slightly less than half expect they will have a comfortable lifestyle when they retire. Nonetheless, there appears to be a woeful lack of communication between spouses. Many neglect to share their expectations or communicate about their joint estate planning and financial planning. And only 15% feel that if something thappens to one spouse, the other would be able to handle the joint finances.

"Many couples told us that they have fewer assets, will need to delay retirement and work longer, and are worried about the impact of inflation and rising healthcare costs on their retirement savings, yet they aren't talking, planning or managing their finances jointly to address these very important issues," said Kathleen A. Murphy, president, Personal Investing, Fidelity Investments.

So married couples, take some time to talk about these important matters. You owe it to yourselves and each other!