?I told you so.?
Those are the four words no spouse wants to hear from their partner, especially when it comes to investing and retirement planning.
Just ask Dr. David Rothberg. Rothberg, 59, and his wife heavily invested in tech giant Cisco way back in the mid-1990s.?She wanted to shift money into bonds instead. But that?s not Rothberg?s style: ?I?m an aggressive investor, and the market was going up 30 percentage points per year, so why would I invest in something that would get us six percent??
As the technology boom went bust, Cisco?s revenue fell for the first time in the company?s history. By the summer of 2001, sales were down one-third compared to six months prior. Cisco stock had lost 68 percent of its value in 10 short weeks.
?I should have listened to my wife, but I didn?t,? says Rothberg, an ophthalmologist based in Clearwater, Florida.
Are these verbal jousts between couples hindering financial decisions? According to new research from Charles Schwab Corp, they do. The survey revealed the majority of Americans ? both single and coupled ? believe planning for your golden years is likely smooth sailing for the non-married cohort.
Among the survey?s findings:
And advisers tend to agree ? noting risk tolerance, age differences and overall health and lifestyle considerations only serve to complicate the planning process. ?I do a lot of marital counseling, not by choice and not on purpose,? says Wayne Copelin, president and founder of Copelin Financial Advisors in Sugar Land, Texas. ?Married people have similar concerns, but for a single person ??
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Article Source: http://blogs.reuters.com/reuters-money/2011/09/22/married-or-single-who-has-the-advantage-in-retirement-planning/
Source: http://www.insuranse.co.za/married-or-single-who-has-the-advantage-in-retirement-planning/
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