Ask Terry Questions Should Working Spouses Invest in the Same Retirement Plans

Should Working Spouses Invest in the Same Retirement Plans

By Terry Savage on December 17, 2014 | Financial Planning / Retirement

I recently took a position at the same organization where my husband works. We have two choices for Tax-Deferred Retirement Plans, and both are solid performers (TIAA-CREF and Vanguard). Should I choose the one my husband is not invested in, at least for the sake of security and diversity? Thank you!

Terry Says:  I honestly don’t think it makes a bit of difference.  Both are among the best and lowest cost financial providers.  In fact, my compliments to the organization you work for because they chose such excellent providers.   It just depends on how each of you wants to invest, how much risk you want to take at this stage of your life.  Remember these are INDIVIDUAL plans — and you have no idea what position you’ll be in when it come time to use them!  So take the advice offered by the plan provider, diversify appropriately in your own investment choices — and don’t worry about safety.

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