Filed Under:Annuities, Suitability

Spouses have crucial impact when planning retirement

According to research from the University of Missouri

Spouses tend to a have a profound impact on one another’s retirement planning.
Spouses tend to a have a profound impact on one another’s retirement planning.

Spouses tend to a have profound impact on one another’s retirement planning according to recent research from the University of Missouri (UM).

Angela Curl, an assistant professor with UM’s School of Social Work had this finding published in Clinical Gerontologist.

In the article, “Anticipatory Socialization for Retirement: A Multilevel Dyadic Model,” Curl culled and analyzed data and concluded that among married couples who were 45 years of age and older who worked full or part-time, when planning took place by one spouse, there was a direct correlation with an increase in planning activity on the other.

Curl determined that white men with higher incomes were the most likely to comprehensively prepare for a retirement that facilitates a smooth transition from the workforce. The impact that this group potentially has on their spouses could portend healthier retirement planning for individuals outside the affluent, white male demographic.

Although couples influencing each other’s retirement planning insinuates that retirement planning is happening separately within in a marriage, Curl found that preplanning together goes a long way towards fomenting more positive retirement experience.

Curl concluded that there is significant onus on other parties besides the individual to provoke substantial retirement planning among individuals outside the proactive, wealthy, white male segment.

“Retirement is not just something for wealthy individuals. Too often retirement planning is thought of purely as financial planning, but that isn’t necessarily the case. Employers should develop better training programs to help women and minorities plan for their retirement years so they can also be successful,” Curl said in a statement. 

Top Sales and Marketing Ideas - 2014

Special Feature

2014 100 Best Sales & Marketing Ideas

There are a million ways to sell an insurance product, and any one of them may work depending on your target market, your product lineup and your own unique skill set.

Explore Now
More Resources



Advertisement. Closing in 15 seconds.