What Happens When One Spouse Retires First?

Rarely do couples retire one the exact same day. One of you will probably cut ties with their career first, and you might be surprised at how much this one change affects your entire lifestyle. Everything from your budget to your daily routine will shift, and the two of you must be proactive about dealing with these changes. Here’s what you need to know.?

Communicate. As with any other relationship issue, communication is key. As you plan for your retirement, discuss related issues with your financial planner. Consulting a marriage counselor is a good idea too! They can help you communicate openly and address any concerns you might have.?

Plan your budget. Yes, one of you will lose a salary, but perhaps begin drawing Social Security and/or distributions from a retirement account. You might expect that certain expenses, such as the cost of commuting, will decrease. But consider the other side of things, too. What will the retired spouse do all day? Will the cost of entertainment, hobbies, or something else increase??

Establish clear boundaries. The retired spouse might feel tempted to drop by the workplace of the working spouse quite often. This could amount to a happy surprise or even a romantic planned lunch. But for some couples, the blurred boundaries could become an aggravation. The retired spouse must make a plan for their days, and the two of you should communicate about the degree to which the working spouse needs space.?

Consider the division of labor. If both of you have been working for many years, you might assume that the retired spouse will take up more of the household chores. But we all know that assumptions can be dangerous in marriages! Make sure to discuss this expectation honestly.?

Remember that change will happen, and be flexible. The retired spouse might develop a more active social life or change in some way. The working spouse should remember that they, too, will experience their own changes when their own retirement date arrives.?

Share activities. Remember to continue sharing activities that you enjoy together, so that one of you doesn’t feel isolated. Schedule regular date nights.?

Stay fluid. Most couples need to make some adjustments as their retirement years progress. Continue to communicate openly, and meet regularly with us to discuss the financial side of things. If your budget or lifestyle changes, we can help you adjust your retirement plan.?