{"id":18076,"date":"2016-09-06T13:38:58","date_gmt":"2016-09-06T20:38:58","guid":{"rendered":"https:\/\/goldcopreciousmetals.com\/?p=18076"},"modified":"2016-09-06T13:38:58","modified_gmt":"2016-09-06T20:38:58","slug":"retirement-secrets-need-know-immediately","status":"publish","type":"post","link":"https:\/\/goldco.com\/retirement-secrets-need-know-immediately\/","title":{"rendered":"Retirement Secrets You Need to Know Immediately"},"content":{"rendered":"

As far back as I can remember I was the designated keeper of financial secrets for my parents. If I happened to be with my father when he bought something he knew my mother would disapprove of, he\u2019d swear me to secrecy. Over the years, I bore witness to his cockeyed parade of impulse purchases: a miracle can opener, a vibrating arm-chair, a weird-looking lamp, and hundreds of other crazy household items. Pretty much minor stuff.<\/p>\n

At one point, though, I do recall my dad going completely over the top \u2013 the time he decided to buy a used car from a neighbor.\u00a0 Eventually, of course, he\u2019d have to square with my mother about the source and cost of each of his purchases. But until he did so, I had my marching orders, \u201cDo not <\/em>tell your mother about this.\u201d<\/p>\n

My mother, on the other hand, had her own wacky pattern. Through the years, she cultivated an assortment of hiding places for spare cash: a sugar bowl, a cookie jar, several bank accounts, and even a mutual fund. She claimed she shared this information with me only in case of an emergency. And my marching orders were \u2013 you guessed it: \u201cDo not <\/em>tell your father about this.\u201d<\/p>\n

So there you have it; three family members, each with a distinct role. My father\u2019s role was to squander money, my mother\u2019s to hoard it, and mine was to keep my mouth shut. \u00a0But there was no coherent plan, especially for the future.<\/p>\n

Now after reading a Forbes article by financial journalist Richard Eisenberg<\/a>, I\u2019m relieved to discover my offbeat parents have quite a bit of company. According to a dual survey by NerdWallet and Harris Poll of over eighteen hundred married couples and partners, a third claim neither they nor their partner is saving for retirement.<\/p>\n

Worse yet, of the thirty-six percent who said their spouse or partner is<\/em> saving for retirement, twenty-three percent claim they don\u2019t know how much<\/em> they\u2019re actually saving. Furthermore, twenty-one percent are not even aware of the overall size of their spouse or partner\u2019s retirement account.<\/p>\n

All this time I thought my mother\u2019s sugar bowl was a violation! But NerdWallet investment specialist Dayana Yochim offers a more charitable view. Her professional take is that couples don\u2019t keep financial information from one another out of malice. Their motives stem, rather, from a combination of silence and ignorance. \u201cRetirement planning seems like a straightforward topic [yet] it\u2019s anything but. It\u2019s riddled with emotional subtext, based on past experiences, unspoken expectations and how money was handled or talked about growing up\u2026.\u201d<\/p>\n

So, if you\u2019re married or in a relationship, the retirement planning information you and your partner need to know\u2014and disclose\u2014immediately is the very info you\u2019ve been keeping from one another.<\/p>\n

It\u2019s now time for both of you to come clean about your individual debt, savings, credit cards and undisclosed purchases. No more secret bank accounts. Cookie jars are for cookies only.<\/p>\n

Much of Eisenberg\u2019s article centers on joint retirement strategies for married couples and partners \u2013 open communication about lifestyle goals, plans for eliminating debt, and your mutual promise not to borrow against your 401(k) plans.<\/p>\n

To these smart strategies I strongly add my recommendation for couples to invest in tangible assets<\/a> as a hedge against volatile stocks and under-performing bonds, both paper and dollar-denominated investments. Chances are, if you both have any retirement accounts at all, they\u2019re wholly invested in stocks and bonds. By investing in tangible assets like commercial rental properties or, on the more affordable end, investment-grade precious metals, you\u2019ll be protected against the inevitable downside<\/a> of paper assets.<\/p>\n

It\u2019s a time-tested financial gambit for financial professionals to jump to gold<\/a> when they\u2019re confronted with weakness in their stocks and bonds. If you anticipate this inevitable weakness, and enter the market before the next big climb, you\u2019ll add tremendous value to any retirement account; the kind of sensible move any couple can agree on.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

We all love a little mystery in our relationship. But if you keep money secrets you may be increasing stress and decreasing your future security.<\/p>\n","protected":false},"author":13,"featured_media":32466,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[213],"tags":[253,341,497],"class_list":["post-18076","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-retirement","tag-retirement","tag-retirement-savings","tag-seniors"],"acf":[],"yoast_head":"\nRetirement Secrets You Need to Know Immediately<\/title>\n<meta name=\"description\" content=\"We all love a little mystery in our relationship. 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