Couples' Financial Priorities Shift With Age And Income

When talking about money, older and wealthier couples tend to discuss strategies for managing their assets during retirement, while younger and less affluent couples talk more about how they are spending or saving their current income, according to a survey conducted by Harris Interactive for the Wall Street Journal Online.

The survey of 2,585 adults found that the types of financial issues couples discuss vary by age and income. The findings showed that couples age 55 or older are more likely to talk to each other about investments and asset management, while respondents between the ages of 18 and 34 are more likely to discuss spending habits, savings, debt, budgets, and financial responsibilities.

Generally, couples at all income levels were found to be equally likely to talk about issues such as savings goals, spending habits, debt, and setting a household budget. The survey did, however, uncover some differences in the types of financial issues discussed by upper- and lower-income couples.

Among respondents with annual incomes of $75,000 or more, 59% reported talking with a spouse or partner about retirement goals, 53% discuss current investments or investment goals, and 48% talk about the couple's net assets. But among respondents with incomes below $35,000, just 16% told researchers they talk with a spouse or partner about retirement goals, 21% discuss current investments or investment goals, and 22% talk about the couple’s net assets.

When asked what proportion of the disagreements they have with their significant other centers around household or personal finances, 40% of respondents between the ages of 18 and 34 said half or more, compared with just 14% of respondents age 55 or older. And, while 72% of retired respondents said they do not fight about money, 60% of full-time or self-employed respondents admitted to engaging in money-related arguments with a spouse or partner.