Hello! My husband is older than I am, and our retirement years in regards to choosing a target date index fund are 10 years apart. If we were to open a joint brokerage account, whose target date should we use? I imagine it’s simply a personal choice of how long we want it to be in the more aggressive stages (i.e., use my year), but want to make sure I’m not missing something.
Are you both planning on retirement at the same time or 10 years apart? Are you close to retirement or is it a longer horizon?
Oh good points. I’m self-employed, so I’ll likely want to slow down with work when my husband retires. I’m in my 30s and he’s in his 40s.
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Considering those points, I think it boils down to your aggressiveness.
Thanks for your input!
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@Chadmethner
Would your response change for this scenario:
Him: 50. Retires from union 11/2023 with pension. Will get another job for 10-15 yrs or so.
Her: 37, full time employment with decent side hustle (used to be self employed with SH, but found a great w2 opportunity) I certainly want to retire or slow down when he retires. 50-52 ish…
I’m having a hard time picking a date, I don’t really want to be too conservative too quickly, but we’re moving to Hawaii in 2024, so I need to be confident in money!
Approximately what percentage of his pension would cover annual expenses?
I suspect his pension will only be 50-75% of our annual spending. Pension won’t make him whole without adding social security to it. And we’re expecting cost of living to go up a bit. (We’re super conservative now!)