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Money Guy Show

Should I Make My Wife Work Longer?

Money Guy Show

Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors

Education, Retirement, Moneyadvice, Investing, Savingmoney, Personalfinance, Business

4.62.8K Ratings

🗓️ 3 April 2024

⏱️ 33 minutes

🧾️ Download transcript

Summary

"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. I have a stressful job that I want to leave now, but we would still need income to cover expenses until we can fully retire."

We'll walk you through that question and more in today's Q&A episode!

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Transcript

Click on a timestamp to play from that location

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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