How Couples Can Confidently Invest for Retirement Together
On the first day of work, for nearly every job I've ever had, I was handed a mountain of paperwork and webpages to visit. All at once, I needed to complete tax paperwork, make health care selections, and make my retirement selections. My wife had the same experience.
Fortunately for us, personal finance is my area of expertise. But that's not the case for many folks who are already overwhelmed on their first day of work and are now being told to make investment selections that will impact the rest of their lives. Oh, and they should also coordinate their contribution amounts with their partners so they are collectively maximizing employer matches.
Emily Luk, CPA, CFA, was CEO and cofounder of Plenty: a wealth platform built for couples to track, budget, invest, and plan together. Wealth Simple eventually purchased the company. I interviewed Emily to better understand how couples could invest together. Below is a summary of her feedback, along with an embedded video of the interview.
Why Couples Struggle to Invest Effectively
Emily highlighted a serious problem I uncovered in research, which I wrote about in my previous post, The Hidden Cost of Not Talking About Money: Why 1 in 4 Couples Lose Out on Retirement Savings. Emily saw on her end that the lack of collaboration between partners was costing them a lot of money in employer matches. Research shows that one mistake can cost couples hundreds of thousands of dollars in lost compound growth over their careers.
Another hurdle is that most financial tools aren't designed for couples. Budgeting apps often track daily expenses but rarely address long-term goals like retirement. For many, this leaves couples split between daily money management and long-term investing needs.
Key Insights from Emily Luk
Focus on Goals, Not Just Expenses
Emily emphasized that couples should start conversations about their shared goals, which is really a conversation about your values. Before jumping straight to common financial goals such as retiring early or buying your dream home, use the downloadable financial goals activity below to get on the same page, then set financial goals together.
Understand the Basics of Investing
You do not need to be an investment expert to invest for retirement. As Emily pointed out, a simple index fund strategy can outperform complex, high-fee portfolios over time. The key is consistency and a long-term mindset.
I strongly encourage you to read the following two posts. They focus on the typical investment product options couples face and dispel costly myths.
Recognize the Power of Time in the Market
Yes, I originally wrote Money Lessons for Kids: Investing as a resource to help parents teach their children the power of compounding. But if it's a lesson you were never taught yourself, I encourage you to read it.
If you don't have time, consider this. Using the Rule of 72, an initial $50,000 investment could grow to $400,000 in 30 years without adding another penny, assuming an 8% annual return, which is below the market average.
Don't Overlook Taxes
Emily pointed out how strategic tax planning can significantly boost after-tax returnsby taking full advantage of tax-advantaged accounts such as Roth IRAs or employer 401(k)s.
Related: The Spousal IRA
Actionable Steps for Couples to Invest Together
Emily offered simple, actionable advice for couples ready to take control of their financial future:
Take Inventory of Your Finances
Write down all your accounts—retirement plans, savings, brokerage accounts, and even forgotten 401(k)s from previous jobs. Most couples are surprised by how much they already have once they see it together.
Start with Employer Matches
Ensure both partners contribute enough to their employer retirement plans to get the full match. It's free money that compounds over time.
Automate Investments
Set up automatic contributions to retirement accounts and index funds. Automation eliminates the temptation to spend and ensures consistency.
Communicate Regularly
Schedule regular "money dates" to review progress, celebrate wins, and adjust plans as life changes. Financial transparency fosters trust and confidence.
Final Takeaway
Investing for retirement doesn't have to be complicated or stressful. As Emily said, "You can get started without needing to know a ton about finance and investing in probably under three minutes."
The earlier you begin, the more time your money has to grow. Start small, stay consistent, and communicate openly.
Interview with Emily Luk, CFA
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Original Post: 6/23/25
Updated Post: 8/31/26
