Should I Make My Wife Work Longer?
Money Guy Show
Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors
4.7 • 3.1K Ratings
🗓️ 3 April 2024
⏱️ 33 minutes
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Summary
Transcript
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| 0:00.0 | What do when one of the spouses wants to retire before the other? |
| 0:11.0 | Brian, I am so excited about this because we understand that money is more than simply |
| 0:17.2 | math. |
| 0:18.2 | So a lot of times we get asked questions that are mathematical questions, but then there are behavioral questions that we have to |
| 0:24.0 | weigh into and we love leaning into your questions we love loading you up with |
| 0:28.4 | information that helps you do money better so right now we have the team out in the wings collecting your |
| 0:33.9 | questions in the chat. So if you want us to answer your question, make sure you get it |
| 0:37.8 | to us right now. With that, producer Rebe, I'm going to throw it over to you. |
| 0:41.8 | Yeah, we're going to kick it off with that retirement question that you referenced from Seth. |
| 0:45.8 | It says, is it wrong of me to quit my job and expect my wife to keep working? My wife and I are on track to coast to retirement in about 10 years. |
| 0:57.0 | I have a stressful job that I want to leave now, but we would still need income to cover |
| 1:02.1 | expenses until we can fully retire |
| 1:05.2 | Interesting question. What are your thoughts? All right, so the phraseology there was really interesting |
| 1:11.2 | Is it wrong for me to expect my wife to continue working? |
| 1:16.8 | I'm going to go out on a limb and say that the expect right there gives me, makes my |
| 1:20.8 | spidey, that makes my spidey sense to ting a little bit. Is there anything wrong though with |
| 1:25.9 | one spouse deciding that they're going to retire and the other spouse continue to work? |
| 1:31.1 | Not at all and sometimes it is the wife that continues to work and |
| 1:35.5 | sometimes it's the husband that continues to work. What I think matters the most |
| 1:39.6 | is that you guys are on the same page. You have the same conversation around ultimately |
| 1:45.0 | what goal are you trying to achieve and how do you achieve that? So Brian, I have some clients |
| 1:50.6 | here locally who are very dear clients of mine and the husband had a very stressful job and the job was so |
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