Am I ready to retire? Is my partner?
Nancy Bobo retired in 2018 from a long and fulfilling career in nonprofits. But her husband, Bo (Melvin), a mental health therapist at a Des Moines, Iowa hospital, wasn’t ready to quit working. They’re just one example of how couples have many factors to consider—including timing—in their retirement discussions.
You and your partner may not feel pressure to retire at the same age. Or maybe you have personal or financial reasons to stagger the end of work. For example, one person who continues to be employed can supply income so you’re able to defer Social Security for a few years. Health insurance may also come into play; retiring before Medicare eligibility at age 65 means purchasing coverage. Or, maybe, you simply enjoy work and are reluctant to stop.
How can you figure out what retirement looks like for you and your partner? Take this short personality quiz alone, then compare answers to start a discussion about your ideal retirements.
Quiz: What’s your retirement personality?
Ready to get started?
- Looking for estimates? Start visualizing retirement with your own info by visiting our planning tools and calculators.
- Have a Principal retirement account from your employer? Log in to principal.com to access personalized planning, sign up for our quarterly newsletter and more. First time logging in? Get started here.
- Interested in starting an individual retirement account (IRA) or consolidating other accounts into your existing one? Call 800-247-8000, ext. 2503 between 7 a.m. and 9 p.m. CT. Not familiar with IRAs? Here’s a refresher.
- Got a financial professional? They can help you figure out your next steps. If you’d like to meet with one face-to-face, we’ll help you find one.
Individual results will vary based on individual choices and life situations.
The subject matter in this communication is educational only and provided with the understanding that Principal® is not rendering legal, accounting, investment advice or tax advice. You should consult with appropriate counsel or other professionals on all matters pertaining to legal, tax, investment or accounting obligations and requirements.
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