Do you and your partner both have careers? Do you run a business together? Is one person working full-time and the other part-time? Accounting for how your family makes money can help you to plan your retirement and build your family’s savings.
The most important step you can take is discussing your future together. After that, it’s all in your income details and how you tailor your mix of retirement accounts to your particular situation.
Here are three different scenarios and planning options for each.
What’s your family’s retirement strategy? Read How much should I save for retirement for more ways to maximize your retirement savings.