Love and Money: Experts weigh in on financial planning for couples

Local News

LAS VEGAS (KLAS) — Nearly one-in-five couples say money is their greatest relationship challenge, and more than half disagree on how much savings they will need to reach retirement goals.

With so many couples getting married this year after a long year of pandemic proposals and postponed weddings, Fidelity Investments has a reminder for couples looking to start “Forever” on the right financial footing.

According to Fidelity’s 2021 Couples and Money Study, while 57% of couples claim they are joint retirement decision-makers, more than half of all couples disagree on how much is needed to reach the retirement goals.

The study also reveals that women need to get more involved in financial matters.

Stacey Watson, Senior Vice President of Life Events at Fidelity Investments explains, “One in five women still report having little to no involvement in retirement planning so our message is, it’s ok to delegate, but don’t abdicate.”

Watson also adds, “staying involved in financial decisions really helps both partners to feel confident about the future.”

She also advises couples to make money a team sport by selecting a weekly financial date night to discuss finances.

Watson also reminds couples to start saving their money as early into the relationship as possible.

For more tips and tools to help navigate a whole host of life events click here.

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