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Hello everyone and welcome to another episode of Erickson TV. Curtis here with Lauren, hello
Lauren. Hey Curtis, hey everybody. Lauren we talk a lot about people at retirement.
Right. And we always talk a lot about people getting ready for retirement. There’s a
recent article in USA today about lack of communication between couples in retirement.
Oh dear. These are two earner couples so there still both working. Right. A lot of the issue
comes up when one of the couples either gets downsized in a job or loses a job and they
want their partner who is still working to also retire at the same time because they
don’t want to retire at different times. Right.
So, the interesting thing to me, and this is really the takeaway from this article,
is that that might be a real specific situation, but this is the more interesting thing. They
did a survey, they surveyed couples who were age 50 and over and these were some of the
numbers. Of those surveyed, only 57% have talked about
wills, inheritance and estate planning matters. Oh okay. A little over half. 42% of the couples
have discussed their net worth. So over half of them have never discussed their net worth
at all? Right. They probably don’t want to. And this ones a big one. Only 41% have
talked about where they want to live when they retire. So what’s your takeaway from
all of that? Oh I think people don’t want to talk about
this stuff. It’s a little uncomfortable. Ya. It’s a little bit uncomfortable so their
going to try and avoid discussion. It reminds me of a similar survey I read about where
they found similar kinds of things that people didn’t agree on all kinds of stuff about
retirement but then they asked them did they fight about money or argue about money. They
said no we never argue about money. So they don’t agree on anything but they also not
arguing and it’s because their just not discussing it at all. Right. There’s no
conversations happening. Right. I think to end this episode, we can encourage
our clients who are watching this video that communication is key. Yes. It’s a little
uncomfortable and that’s why its better to talk about it earlier on in planning. Yes.
Just in case there is an unplanned event where maybe someone is forced into retirement sooner
than they want to be. Right. And also one thing about negotiation, because a lot of
the time this stuff turns into negotiation, we also have a lot of evidence that the more
you have a deadline and the closer the deadline is the harder it is to negotiate. For some
things deadlines make you do better, but with negotiations they get worse the harder the
deadline is and the closer the deadline is. The sooner you start negotiating all these
things the better off you’re going to be. Alright, well thank you for watching this
episode of Erickson TV, we’ll see you next time. Bye now. See you next time.