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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.
Reviewed August 2017
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