Career and Retirement Planning with Your Spouse

Update: April 27, 2012 - Challenge Factory no longer uses the term "retirement." Click here to find out why.

Original Post:

Does the headline have you thinking of spousal deductions and RRSP contributions? It is peak season for financial planners and accountants to work with couples. Around office and kitchen tables, there is ongoing talk of current financial needs and future plans.

This important discussion leads you to prioritize and plan for the funds needed to sustain the lifestyle you seek. 

But where do you and your spouse go to discuss and decide what it is that you want to do for the next 20-30 years? Do you know if you and your spouse have similar ideas about what a "good day in retirement" looks like? Are you on the same page when it comes to the balance between work and leisure?

Valentine's day and RRSP season do have a very strong connection when you consider that 1/3 of your married life may well occur in your "retirement" (or unretirement!) years.

Read the stories below of couples working with Challenge Factory to ensure their next phase of life is not just financially viable, but full of new opportunities to feel rich and rewarded.

Successful, but not Satisfied: Steve and Sarah. Steve is looking find a career that he will love well into his 50s and 60s. He's held a variety of jobs before and been successful, he just hasn't found something he loves, causing him to go searching for something new every few years.

Steve's wife, Sarah, is an integral part of his journey. She participated in screening Challenge Factory and other career providers to advise which organization felt most in line with what Steve is looking for. She regularly attends Challenge Factory events (sometimes even without Steve) and is an avid champion for her husband's career success and happiness.  In December, the Canadian Press profiled Steve and Sarah in a variety of papers across the country.

Needing a Family Unretirement Plan: Wayne and Mary. Wayne and Mary worked together for decades building a successful business from nothing to a national success. Five years ago when the business sold, they happily moved into retirement, excited to reap the rewards of all of their hard work. Now, Wayne finds himself looking for something meaningful to do with his time. Without any specific obligations he moves from one activity to the next without ever feeling like he is accomplishing a goal. Recognizing that there are still decades on the horizon, Wayne wondered if he stepped out of the workforce too early and is now working with Challenge Factory to identify exactly what he'd love to be doing and how to balance it within a career portfolio that also allows him to enjoy the travel and leisure he loves.

Mary always worked with Wayne and participates activly in his program. While she's found activities to satisfy her for the moment, one criteria Wayne's identified is to find something that they can once again do together.

Curious Couple Ready to Consider New Options: You and Your Spouse. If you find yourself wondering what you and your spouse will do in retirement together we can help. From currently retired couples to mid career professionals looking ahead we offer a unique set of services to help you build an unretirement plan that works for you both. 

Challenge Factory offers events, workshops and individualized programs that will quickly identify where you and your spouse may differ when it comes to your ideal retirement lifestyle and the role work plays in the mix. Our Career Portfolio Planning Workshop is a great place for couples to start. It's an easy way to start planning how you'll live in, not just how you'll save for, the future. Register today to save a seat at the table.