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
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ReplyDeleteHello Nancy!
ReplyDeleteThe questions you ask at the beginning of your blog do a great job in grabbing the readers’ attention. I say this because I think about my own parents, and I know they are asking similar questions regarding their retirement. The way the public perceives retirement is also an interesting element that you touched on. You quoted an article about the constructs of retirement changing in our country. To take this to a more communicative standpoint, I would be curious to know if the researchers had anything to say about the societal discourse on retirement and what that means. It is evident that the societal discourse(es) play a role in the way a couple understands or hopes for their own future.
One other thing I wanted to ask you about was the “previous roles” of men and women in terms of retirement. I’m referring to your discussion about men and how they were the reason for retirement a lot of the times, and how women typically worked, then stayed at home, worked, then stayed at home again. How would you say that this interacts with the way people are understanding retirement today and is that changing? Just a few thoughts for you to ponder.
Hi Jared. Thanks for your reply. Yes, some of the articles I read on this subject did conclude with concerns regarding how family and work issues effect retirement on the national level. With the largest population ever going into retirement in the next two decades and the ever increasing economic slowdowns, more and more options need to be available to families. At this time, few workers actually prepare for retirement. More discussion on the national and local levels need to help people prepare financially and socially. Changes in institutions and workplace policies need to become more family oriented and reduce work-family conflicts, and give more flexibility to employees. This will allow individuals/families more time and latitude to maneuver in the years prior to retirement.
DeleteAlso, with women working more, they are more concerned with funding their pensions, and they are just more personally invested in their work than in years past when family was their main concern. Now the family issues are being split more evenly between spouses.
I am writing a comment.
ReplyDeleteYou do a great job with your introduction. Your questions will resonate with everyone, no matter the stage of life they are in. The workplace and retirement has certainly changed over the last 40 years. I am interested in what statistics exist for dual income families for retirement. Will they be able to retire earlier?
ReplyDeleteYou mentioned that many businesses are downsizing their retirement options. What is a typical retirement package like these days? Or are businesses no longer offering those types of benefits?
You mention that someone needs to do the planning for retirement. Should this be done by a professional of by the couple? It seems to me that communication about retirement is key between the couple. It is always great to have a plan, but life seems to ebb and flow. Sometimes it flows right out of those plans. Having a plan gives the couple a place to continue a conversation that should have been started long ago when life course changes.
I am hoping that your future blogs will discuss the difficulty couples have adjusting to being retired. Thank you. I enjoyed the read.
Hi Teresa. Thank you for your reply. Yes, I am trying to make my blog interesting to our whole class, who happens to be younger and interested in other subjects than what I am interested in, but who doesn't want to retire early!! I thought that would catch their attention.
DeleteI did not read on income stats after retirement or if dual earners can retire sooner than solo-earners. The articles did reflect differences in retirement decisions because of difficult physical or mental demands of the job, health, expenses with children at home, etc. I did not read about retirement packages either. Sorry. What I do learn from the news on TV is that employers seem to be offering less and less retirement packages today.
Yes, pre-retirement counseling is advised, although most families do not do it. They are so busy with the here and now, just getting by mostly. The articles did suggest the importance of planning, to be done by the one in the marriage more interested in it. Both couples should be involved, but just like other household tasks, one takes over the majority of the task, but both are aware and discussions take place so they both know what is going on and agree.
Ooh, I wanted to hear more! My husband is likely to retire 10 years before me, and I really want good suggestions! If you find out more, let us know. My one writing suggestion is to not do as many questions all together in that first paragraph. Turn some of them into statements. Otherwise the readers mind will get a bit overwhelmed. A good rule of thumb might be no more than 2-3 questions.
ReplyDeleteDr. Reeder, thank you for your input. Glad to know this was an interesting blog.
ReplyDelete