4 Common Retirement Mistakes Younger Couples Make

Calgary Financial Consulting

Many young couples are still clinging to their honeymoon days and not thinking too far into the future. Though many couples appear to have the same goals, sometimes this is not the case. In the months following marriage, one of the first things a young couple should do is sit down with an investment advisor and begin their retirement planning. Unfortunately, this crucial step is often overlooked.

As a financial advisor, I have worked with many couples over the years. Most believed they were working toward the same retirement plan. That is until they started really talking about it. You’d be surprised what kind of disagreements can arise when two people begin forging a path into retirement together. To help couples in their financial planning, I’ve compiled a list of the most common financial mistakes young couples make.

1.  Procrastination: Like most things, putting your retirement planning off until the last minute can create major issues and headaches down the road. One of the biggest mistakes couples make is talking about retirement planning when they’re only a few years from it. There are many aspects to consider when preparing for retirement:

  • Finances – Being comfortable with your new (fixed) income
  • Social Expectations – Activities, travel, social events
  • Emotional Affects – How will you spend your time 

Start talking about retirement plans now to ensure your expectations align with your spouse’s and that your retirement transition is seamless.  

2.  It Takes Two to Tango: I have seen this scenario numerous times in my experience; only one member of a couple attends financial planning meetings. These are important conversations and therefore it’s important both spouses are present. Also, heaven forbid, if something happens to one of you the other is entirely out of the loop and has to get into it at the most stressful time. This is easily preventable.

3.  Lack of Preparation for Unforeseen Events: It’s far more common than most people realize; people get sick, lose their jobs, divorce, or even pass away. Couples that never consider these possibilities are placing themselves in real financial danger. Your retirement planner can assist you with strategies that will cover you in case these circumstances arise.

4.  Different Retirement Times: Most couples imagine their retirement commencing at the same time, but more often than not, it doesn’t.  Whether it’s an age difference or a financial decision, staggering your retirement can be a smart move. The working spouse can provide health coverage for a longer period of time and save costs on individual rates.

Retirement is an exciting time that we all look forward to; it just requires some goal setting and planning.

We help our clients create sustainable, predictable cash flow from their portfolio in the most tax-efficient manner to ensure they never have to worry about running out of money. 

Learn more about our planning process to get your total financial house in order and keep it that way for life. We can ensure you have enough money to fund your current lifestyle, a plan in place that will ensure you reach your future goals, and the confidence to handle whatever comes your way.


Retirement Income, Investment, & Tax Planning,

Willis J Langford BA, MA, CFP

Nancy Langford CRS



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My wife and I realized a long time ago the value of a financial planner over just a bank representative. We just felt like a number to the banks as every year it seemed we saw a different adviser with a different view. But finding a trusted, knowledgeable and personable financial planner took a lot of time and effort. It just seemed, so many large corporate Financial Planners were more concerned about what they could make off of us rather than what they could make for us.
What we wanted, was not just reasonable returns now, but good personal advice in our preparation for retirement and what happens when retirement actually arrives. We wanted someone who would be walking with us, guiding us on our way to retirement.
From the first time, we found the web site for Langford Financial Inc, we could see the knowledge of Willis and Nancy and a real effort to educate and pass on their knowledge through seminars, workshops and their personal service. Once I reached out through their web site for more information, Willis was quick to respond, offering and giving whatever information I was looking for and never was there pressure to commit to anything.
The feeling of comfort and ease when talking with Willis was inviting enough for us to want to meet with Willis and Nancy, just to see firsthand if there was a connection and what working with them would look like.
And when we did meet for the first time, that feeling of comfort and ease was very evident. It was a unique experience for us to be able to sit down and get to know a financial planner (or a team of both Willis and Nancy) and not have any sales pressure on us. Just getting to know Willis and Nancy was important for us. We needed to be comfortable with them and see their competence in the business, and it was obvious that Willis and Nancy wanted to know us better so they could know how best to help us.
Once we decided to move our accounts over to Langford Financial, we found their process was comforting and refreshing as Willis and Nancy first worked at evaluating our complete situation. They dug down to get a complete picture of where we were at, where we wanted to be and how to get there. This took some reflection on our part but once we saw how they put it all together in our “Financial House In Order” binder, we were confident we made the right decision to go with Langford Financial.
Since the time we started working with Willis and Nancy I have attended many of their seminars and can say the information they have been teaching has been amazing. Always relevant, and consistent with their desire to help those coming up to retirement, and covering so many different situations as everyone has a different life situation. I know more than one of the tax-saving strategies they taught at their seminars will work for my wife and I, so we are very happy about that.
We would definitely recommend Langford Financial, not just for all your retirement planning needs, but they have great ideas on savings for your grandchildren too!
Paul and Elaine Radder

Paul & Elaine Radder
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