Are Your Client Couples In for a Rude Awakening?€¦ · friends, or just spending time as a couple? Would you like to build new friendships, or are you content with the friends you

Copyright © 2019 by Hartford Funds. FOR FINANCIAL ADVISOR USE ONLY/NOT FOR USE WITH THE PUBLIC

Are Your Client

Couples In for a

Rude Awakening?Help clients align their retirement visions

for a smooth transition

Date: Tuesday, November 12, 2019Time: 4:00 P.M. ET / 1:00 P.M. PT

Created in collaboration with Kristy L. Archuleta, Ph.D., LMFT

HOSTJohn DiehlSr. Vice PresidentStrategic MarketsHartford Funds

FEATURED SPEAKER

Kristy L. Archuleta, Ph.D., LMFTAssociate Professor, University of Georgia

© 2019 by Hartford Funds. FOR FINANCIAL ADVISOR/INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH THE PUBLIC.

© 2019 by Hartford Funds. FOR FINANCIAL ADVISOR/INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH THE PUBLIC. 2

Kristy Archuleta, Ph.D., LMFT

• Associate Professor, University of Georgia• Past president of the Financial Therapy Association, • Editor-in-chief, Journal of Financial Therapy• Featured in media outlets such as CBS Money Watch,

Investment News, forbes.com, and usatoday.net.

© 2019 by Hartford Funds. FOR FINANCIAL ADVISOR/INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH THE PUBLIC.3 3

Reticular

Activating

System

For your client couples who’ve retired, have some of them had a bumpy transition into retirement?

a. Yesb. No


The Transition to Retirement or an Empty Nest Will Be Great, Right?



For Some, It’s… For Others, It’s…

Which one are you headed for?


Agenda

Unspoken Expectations

Creating a Shared Vision

Getting Aligned






Reticular

Activating

System

Do you think your client couples share their specific retirement expectations with one another?

a. Yesb. No



The Picture-Perfect Retirement We See



Are You Thinking What Your Spouse Is Thinking?Couples may not realize they have different visions for the future




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Why Many Couples Don’t Talk About It






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Many couples experience difficulties after their retirement or an empty nest transition, primarily because they weren’t even aware of each other's expectations.

—Kristy Archuleta, Ph.D., LMFT



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For your client couples who’ve experienced challenges during their retirement transition, what’s been the main culprit?

a. Finances and spendingb. Disagreement about where to livec. Family dynamicsd. Different passions/interests



15

Four Key Categories To Focus On

Values

Passions and Interests

Location

Money


Own Your Morning

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Values

1. Family

Regarding children, grandchildren, or living parents:

How frequently would you like to visit family?

Is it important to live near them?

What type of support do you want to provide?

How involved do you want to be in their lives?

How involved do they want you to be?


1'Baby chasers' are changing U.S. retirement demographic, bizjournals.com, 7/15/19



2. Volunteering/Charity Work

Would you like to volunteer your time and/or participate in charity work?

Would you like to support a charity or other organization financially?

17 Reasons to Volunteer in Retirement, money.usnews.com, 11/16/15

Values




1. Work

Would you like to continue working?

Would you like to pursue formal education to advance your skills or to change your career?

Do you plan to stop working and not look back?

Are you and your spouse going to stop working at the same time, or stagger your retirements?

1 Many Americans try retirement, then change their minds, seattletimes.com, 4/6/18


$10/hr. work


2. Recreation

How important is it to engage in hobbies and recreational activities?

How often will you do these things?

Would your spouse enjoy these activities as well?

What’s the cost? Is it nominal or significant?


1 Bureau of Labor Statistics News release, Table 11A, 2018 annual averages bls.gov, USDL-19-1003, 6/19/19


$10/hr. work


3. Friends and Social Activities

How important is maintaining your social connections?

Do you enjoy spending time with groups of friends, or just spending time as a couple?

Would you like to build new friendships, or are you content with the friends you have?

Do you need solitude or “me” time?


1 Retirement Life: Women And Men Do It Very Differently, forbes.com, 4/20/16, most recent data available


$10/hr. work


Would you like to remain in your current home or relocate?

Would you like to rent or own?

Would you like to upsize or downsize?

Does living in a 55+ community appeal to you?

Location

1 2018 Home and Community Preferences: A National Survey of Adults Age 18-Plus, aarp.org, 8/18


$10/hr. work


Money

Do you find security in having a detailed budget?

Is it important to live frugally or do you want to "live it up"?

Would you like to have enough money to leave an inheritance for your heirs or donate as a philanthropic gift?

1 Top 5 money habits of happy couples, ameriprise.com, retrieved 9/19


Getting Aligned



Reticular

Activating

System

If client couples experience stress after transitioning to retirement, would you be aware of it?

a. Yesb. No


Getting Aligned

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What Can Happen After The TransitionIf Couples Don’t Talk About It1

An uptick in bickering

Feeling increasingly frustrated or annoyed with your partner

Becoming more emotionally distanced

Clashing over money decisions

1You Say “Tomato,” I Say “Tomäto”: A couple’s guide to aligning your individual visions for retirement, Kristy L. Archuleta, Ph.D., LMFT, 9/19


Getting Aligned

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Step 1: Get Our Worksheet And Fill It Out Individually

© 2019 by Hartford Funds© 2019 by Hartford Funds. FOR FINANCIAL ADVISOR/INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH THE PUBLIC.

Getting Aligned

27

Step 2: Share And Discuss Your Answers

How similar are your visions?

How are they different?


Getting Aligned

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Four Things to Remember When You’re Sharing

1. Be present and focused on your partner

2. Listen to understand, not respond

3. Use “I” statements

4. Pay attention to your tone of voice and body language

There are no "correct" answers. This point is to help start a conversation about your retirement vision.


Getting Aligned

29

Step 3: Getting Aligned

These are not guarantees.

If similar… Your transition may be smooth

Repeat these steps once a year

Actively prepare to make your vision a reality

If different… Your transition may be rough

Being aware of your differences allows you to work on finding common ground

Seek the help of a therapist if necessary


Summary

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Unspoken ExpectationsMany couples don’t discuss them

Creating a Shared VisionFour categories are key

Getting AlignedShare your individual visions



The Bottom Line

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Remember, the alignment process isn’t about “negotiating” what you get to achieve at the expense of what your partner gets to achieve—it’s about planning together as a couple for a life that’s satisfying for both of you.

—Kristy Archuleta, Ph.D., LMFT


Next Steps

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Kristy L. Archuleta, Ph.D., LMFT, is not affiliated with Hartford Funds.Materials provided by Hartford Funds Distributors, LLC, Member FINRA.SEM_TRANSITIONS_WEBINAR_1119 214506

MAI182

Next Steps

1. Visit: hartfordfunds.com/couplesto download the client white paper

2. Contact your Hartford Funds Advisor Consultant about doing a client event

3. Not sure who your Hartford Funds Advisor Consultant is?

• Call: 800-456-7526


Q&A


Next Steps

34

Next Steps

1. Visit: hartfordfunds.com/couplesto download the client white paper

2. Contact your Hartford Funds Advisor Consultant about doing a client event

3. Not sure who your Hartford Funds Advisor Consultant is?

• Call: 800-456-7526

MAI182

Documents

Are Your Client Couples In for a Rude Awakening?€¦ · friends, or just spending time as a couple? Would you like to build new friendships, or are you content with the friends you