‘Two timelines with one balance sheet’: Why big age-gap marriages can make retirement planning even more complicated

When there is a significant age gap between spouses, retirement planning can become more complex. The younger spouse may not want to retire, while the older spouse's health issues may require them to take on more caregiving responsibilities. This can lead to a situation where they are planning two separate retirements on one balance sheet.

The younger spouse may need to continue working or purchase individual health insurance, while the older spouse may need to draw from their retirement savings to cover shared expenses. It's crucial for the couple to ensure their nest egg will last long enough to support both partners in retirement.