What are the issues Midlife
Marriages face?
Do you hope to retire
early from work? Maybe you are still figuring out what your career will be, but
I’m sure you think about the day when you do not have to work. If you are like
the majority of people between the ages of 45 – 65, you are married. What if your spouse retires before you do?
What if you retire before your spouse? Will
you continue to work part-time? What will you do? Do you have a hobby you want
to pursue? Volunteer? Do you both have
good health? These are some of the
issues that need to be discussed by a couple prior to retiring. Preplanning
10-20 years in advance of a life goal is not unreasonable. Actually,
preplanning will help you reach your goal sooner than later, according to an
article in American Behavioral Scientist.
Traditionally retirement has been related to a man’s health,
reaching a certain age, pension status, and career achievements. However, with
companies downsizing, offers of early retirement and loss of retirement savings,
employees need to be rethinking the “golden years” outlook. Previously women’s
role expectations were to work, leave the workforce to raise children, work
again, and sometimes leave the workforce again to care for aging parents;
having more family interruptions in their working years. Retirement decisions for
women in this traditional mode of retirement would more closely follow the
timing of her spouse.
More contemporary couples are a part of the “new modes of
retirement” (Pienta, 2003). This
includes women in the dual-earners marriage whose relationship consists of
decisions and choices that the married couple make together and lives that are
linked.
The husbands and wives share opportunities and disadvantages
that affect both of them and their work place decisions. Amy Pienta, (2003) suggests that the
construct of retirement is shifting for men and women and has become more
multifaceted and gender equal. The contemporary marriage now consists of two
career pathways and two retirements to navigate; no longer an individual event.
This shift to a”new mode of retirement” links women to the workforce, but also
connects men to familial and marital responsibilities.
In an article, “Deciding the Future”, the researchers encourage
“planfulness” for couples in regard to retirement planning. The planning should
be done by whoever has the skill and desire to tackle the chore, just like
other household chores are divided in the home. There are factors that shape the ability to
plan effectively. You need to look at the work environment each person has in
their workplace, such as a mentally or physically demanding job, health
factors, if children are still in the home, income supply during retirement and
what are your goals during retirement.
With individuals living longer and retiring earlier, their
retirement years can be the longest period of life. A window of opportunity is
available to those who plan this period of life, no longer to be taken for
granted, but to be filled with many projects that are available in this new
stage of life.
Moen, P., Huang, Q., Plassmann, V., & Dentinger, E.
(2006). Deciding the future. Do dual-earner couples plan together for
retirement? American Behavioral Scientist.
49(10), 1422-1443. doi: 10.1177/0002764206286563
Pienta, A. M. (2003). Partners in Marriage: An analysis of
husbands’ and wives’ retirement behavior. The
Journal of Applied Gerontology 22(3). 340-358. doi: 10.177/0733646803253587