Finding a solution that works for you both
How Can I Get My Retired Spouse to Stop Spending Like He Is Still Working?
Ask The Dollar Stretcher
Reducing Expenses after Retirement
How to Stop an Overspending Spouse
Changing Financial Behavior In Retirement
Creating a Side Income in Retirement
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
Take the Next Step:
- Use this tool to maximize your retirement by determining the best age to take your Social Security benefits. Don't leave thousands on the table by taking Social Security at the wrong time.
- Will your new retired lifestyle cause you to look at money differently?
- Part-time jobs for retirees.
- Subscribe to After 50 Finances. You've learned how to work smarter, not harder. This weekly newsletter is dedicated to people just like you. Subscribers get a FREE copy of our After 50 Finances Pre-Retirement Checklist, a list of everything you need to do to be ready for retirement.
Share your thoughts about this article with the editor.