Post # 1
I’m not sure about other countries, but here retirement accounts are in one person’s name, they are not joint.
DH and I view things as ‘our money’ but right now he has much more in retirement accounts that I do. We plan on evening this out eventually, but for right now we aren’t doing anything to change it.
Post # 3
@AB Bride: my FI has a 401k and i have a simple IRA. we will soon get a joint roth IRA but as far as 401k and simple ira – those are both through our employer so we have different company matches and such
Post # 4
I have a lot more in my retirement accounts than he does, but we consider it all “our” money.
Post # 5
My husband is a teacher so has his teachers pension, and just a smaller RRSP.
I am self employed, so no government pension, so I max out my RRSP every year. I need to protect myself.
But when we retire the income will be used to cover both of us. But I am also a realist, and want to make sure that I am ok regardless of what happens to husband.
Post # 6
Ours is second marriage.
He has more money in his RRSP (Registered Retirement Savings Plan)
but I have a defined benefit pension plan, he does not
We both have the same amount in TFSA’s (Tax Free Savings Accounts)
I own our home free and clear.
We will both be eligible for the same amount of CPP (Canada Pension Plan) and OAP (Old Age pension.
Post # 7
- Wedding: October 2011 - Bed & Breakfast
I voted “yes and we have joint finances” because it was the closest option. We each allot the same contribution amount per paycheck, but we have different investment portfolios, so our earnings on those investments are different. We discuss our portfolios with each other because we both have good insights/ideas to offer up, but ultimately we each make our own decisions. We review our portfolios together once a year.
We also both have pensions through our employers. As of right now, one persons will be higher than the other’s, but there are still many years for that to shift.
In the end, it’s all “our money” and that is what matters most.
Post # 8
Sorry, it’s difficult to cover the complexities of retirement accounts, pensions, etc. with a poll.
Post # 9
@AB Bride: My FI only has a few K, and I have 0 so far and don’t even have a retirement account open yet. We’ll see depending on our personal income when we start our careers. My mother’s income is 3 times my father’s, and for the past 25 years she’s been paying for both their retirement accounts on each on her paycheck. If FH earns 2-3 times what I earn, we’ll probably even things out at some point, but we already plan on combining most of our finances after we’re married and have stable jobs.
Post # 10
Dh has way more than I do currently, but he’s been in a union for more than twenty years. They automatically put x amount of dollars into his annuity per hour he works. I have an Ira, annuity, and mutual fund accounts with about a third of what he does, but my plan is when my inheritance comes all of that will be deposited right into my retirement accounts. When we retire it will all go into a living trust in both our names.
Post # 11
@NauticalDisaster: I don’t have an RRSP yet either. Since I wasn’t paying taxes anyway, I figured I would be better off not locking my money into something like that and it would allow for some growth so I could potentially have more to get a deduction in the future.
Until I get settled into a job, we don’t see the point of setting one up specifically for me, as I might end up with better matching than DH.
Post # 12
@lovekiss: I agree it being ‘our money’ is what’s most important, but the second thing after that is taxes. Who knows how income splitting will work in 30+ years.
Post # 13
- Wedding: October 2011 - Bed & Breakfast
@AB Bride: That’s very true. After we retire we will rollover our employer-sponsores accounts into a jointly owned investment account that will be handled by our financial advisor.
Post # 14
Both of our 401k’s are through our companies so they are definitely separate but we consider them OUR retirement. His has more money in it than mine, he gets a higher employer match, and contributes more than I do.
Post # 15
We each have our own retirement fund, and our finances are seperate for now, we each just pay for certain things. But eventually we will have a joint account and save more
Post # 16
He has the ONLY retirement account! We have combined finances. I always assumed since we’re married I’d get 50% of his retirement if he ever runs off with his secretary! (Not that he has a secretary… Or that I think he’s running off with anyone!)