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How Can I Get My Retired Spouse to Stop Spending Like He Is Still Working?
Ask The Dollar Stretcher
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Her retired husband keeps spending money. She's worried about the declining balance in their checking account but can't get him to stop spending. Is there a solution to her problem?
Dear Dollar Stretcher,
Baby boomer here....how can you get a spouse to stop spending money like he's still working? He buys things we don't need (like a new gun, scope, fish aquarium, etc.) and I'm trying to cut corners to keep from pulling money from our emergency fund (which has dwindled quite a lot), from savings (same) or overdrawing the checking account. Though I've told him about the finances, he says he's retired and can spend the money the way he wants - he earned it. (P.S. We do have everything setup, i.e. health, life, IRAs, investments, house paid, etc.). So how do I stop worrying about the money he's spending and get a good nights sleep? Thanks!
That was the question that came in to "Ask The Dollar Stretcher". Is there a solution to her problem? Our editor, Gary Foreman, a former financial planner suggests a unique way to make them both happy.
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- Will your new retired lifestyle cause you to look at money differently?
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- Find information geared specifically for Baby Boomers in The Dollar Stretcher section dedicated to your financial issues. If you're over 50 your financial needs are different. And so are your questions.
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