Spouses Are Hiding Their Retirement Savings From Each Other
Trust of politicians in America seems to have reached a new low in this election season. But who would have guessed how little trust exists across the kitchen table?
Many American couples don’t share even basic financial details of their retirement savings account, beyond the fact that they have one. Twenty-one percent of couples either married or living together didn’t have a ballpark sense of the value of their partner's retirement account, according to a new study. For some, it could be that it just never came up, but for others it could mean that “I do” doesn’t necessarily mean “I’ll disclose.”
Results like that from a Harris Poll survey for website NerdWallet of more than 1,800 couples show just how hard it can be, or how reluctant some people are, to talk about money. “Most couples don’t share fully financial details about private accounts, the nature of investments or the amount of savings—even expectations for retirement are widely apart,” said Lili Vasileff, president of financial planning firm Divorce and Money Matters, in Woodbridge, Conn.
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