Sizable age gaps can create special challenges from a financial- and retirement-planning standpoint. Couples with big age differences may need to plan for different retirement dates and life expectancies--with related implications for portfolio-withdrawal strategies, asset allocation, and Social Security filing. Long-term care considerations can also take on greater prominence for couples where there’s a big age discrepancy. I featured a couple with a significant age gap in my latest round of Portfolio Makeovers.
If you're part of a couple with a sizable age discrepancy, here are some of the key ways to ensure that you adjust your plan accordingly. . . .