Couples urged to ‘divide and conquer’ financial responsibilities
February 21, 2008 by admin
Filed under News, News-Banking
Couples who take a shared responsibility in their finances are more likely to find themselves in a better position when it comes to their retirement, one financial expert has said. 
Mike Kalen, president and chief executive office with The Hartford Life Limited, said that couples can provide their retirement provision with a major boost if they work together.
“When couples ‘divide and conquer’ their responsibilities they are more likely to have at least £50,000 to fund their retirement,” he said.
He added that approaching post-work life with this attitude meant that couples would be “more likely to enjoy retirement once they were in it”.
The Hartford has defined the ‘divide and conquer’ financial personality as one which provides couples with distinct responsibilities.
Research from the firm shows that nearly three quarters of ‘divide and conquer’ couples are enjoying retirement as much, if not more than they thought they would.
This is compared with other couples who do everything together or those in a relationship when one partner is responsible for all of a household’s money matters.
