Shouldering Retirement Savings Solo: How to Navigate When Your Partner Won’t Contribute
"Don’t let me hear you claim that life isn’t going anywhere," David Bowie sang in his 1970s classic "Golden Years." In truth, as time moves forward, your career will ultimately reach its conclusion. This finds Jada, who is 52 years old, grappling with the existential fear of retiring, despite her intention to continue working until she reaches 65. Nevertheless, she has been setting funds aside for her retirement since her mid-twenties. However, as her earnings increased with time, she began allocating 10% of her annual income towards this savings goal. Even though she's excelling at saving money, her spouse of two decades hasn't set anything aside. anything For retirement — and he has no plans to do so. Instead, he intends to rely on his pension and retirement benefits such as the Canada Pension Plan (CPP), alongside Jada’s savings, to fund their later years. Jada is concerned that he might not grasp how much they'll require during ...