Helloenglish.top

Home
Retirement
Retirement Planning

We've Reached Our $5 Million Retirement Savings Goal, but at 66, My Husband Still Doesn't Feel Ready.

I want to enjoy our good health and the ability to travel while we can. We asked financial experts for advice.

By Maurie Backman published 22 February 2026 in Features

When you purchase through links on our site, we may earn an affiliate commission. Here’s how it works.

Copy link
Facebook
X

Share this article Print Join the conversation Follow us Add us as a preferred source on Google Newsletter Get the Kiplinger Newsletter

Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

Contact me with news and offers from other Future brands Receive email from us on behalf of our trusted partners or sponsors By submitting your information you agree to the Terms & Conditions and Privacy Policy and are aged 16 or over.

You are now subscribed

Your newsletter sign-up was successful

Want to add more newsletters?

Delivered daily

Kiplinger Today

Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more delivered daily. Smart money moves start here.

Signup +

Sent five days a week

Kiplinger A Step Ahead

Get practical help to make better financial decisions in your everyday life, from spending to savings on top deals.

Signup +

Delivered daily

Kiplinger Closing Bell

Get today's biggest financial and investing headlines delivered to your inbox every day the U.S. stock market is open.

Signup +

Sent twice a week

Kiplinger Adviser Intel

Financial pros across the country share best practices and fresh tactics to preserve and grow your wealth.

Signup +

Delivered weekly

Kiplinger Tax Tips

Trim your federal and state tax bills with practical tax-planning and tax-cutting strategies.

Signup +

Sent twice a week

Kiplinger Retirement Tips

Your twice-a-week guide to planning and enjoying a financially secure and richly rewarding retirement

Signup +

Sent bimonthly.

Kiplinger Adviser Angle

Insights for advisers, wealth managers and other financial professionals.

Signup +

Sent twice a week

Kiplinger Investing Weekly

Your twice-a-week roundup of promising stocks, funds, companies and industries you should consider, ones you should avoid, and why.

Signup +

Sent weekly for six weeks

Kiplinger Invest for Retirement

Your step-by-step six-part series on how to invest for retirement, from devising a successful strategy to exactly which investments to choose.

Signup + An account already exists for this email address, please log in. Subscribe to our newsletter

Mature married couple enjoying vacation visiting a European city. Senior tourists are walking in Barcelona during summer holidays.

(Image credit: Getty Images)

Question: We said we'd retire when our savings hit $5 million. That happened last year, but my husband doesn't feel ready to retire. We're both 66, and I want to enjoy our good health while we still have it. Help!

Answer: In 2022, the last year for which there's data available, the average 66-year-old had $609,230 in retirement savings, according to the Federal Reserve. If you and your spouse are 66 with a $5 million nest egg, you clearly have a lot more money than the typical person your age.

In fact, a $5 million retirement nest egg puts you in the top 0.1% of households, according to an Employee Benefit Research Institute analysis of retirement accounts cited by the Wall Street Journal. So in theory, that should give you the freedom to retire when you want, and on the terms you want.

From just $107.88 $24.99 for Kiplinger Personal Finance

Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus get up to 4 Special Issues

CLICK FOR FREE ISSUE

https://cdn.mos.cms.futurecdn.net/flexiimages/y99mlvgqmn1763972420.png

Sign up for Kiplinger’s Free Newsletters

Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.

Profit and prosper with the best of expert advice - straight to your e-mail.

What if you're ready to retire after having reached your savings goal, but your husband is still hesitant? While his feelings are understandable, your desire to retire now to maximize your good health is also completely valid. Here's how to approach the situation.

Address the fear factor

Running out of money (or longevity risk) is often a major concern for retirees. Having $5 million to your name won't necessarily make it go away, says Julian B. Morris, CFP, founder and principal at Concierge Wealth Management.

While reaching a financial milestone like $5 million saved is a huge achievement, Morris says, the fear of running out of money is also quite normal.

In fact, Morris says, "Great savers are usually people who struggle with this the most because they've built their success and their nest eggs by being disciplined and cautious… Suddenly easing up can feel irresponsible, even when you've reached a milestone like having $5 million saved."

Morris also points out that hitting a certain savings milestone doesn't automatically mean you're mentally and emotionally prepared for retirement, so it's important to address that.

Nancy Anderson, director of Wealth Planning Programs & Initiatives at Key Private Bank, says it's important to work with a professional to run the numbers so you can see that they actually work.

"Your financial planner can run stress tests to see whether your savings support your lifestyle spending," she says. "Seeing the math can help ease the nerves for a partner who feels hesitant."

Find something to retire to

Many people are hesitant to retire, not just because of financial concerns, but also because they fear ending up bored and unhappy. That's why it's important to try to picture what retirement might look like. If you talk specifics, rather than dread retirement, your husband might start getting excited about it.

"Your husband may not be resisting retirement. He may be resisting a void," Anderson says. "Define what he is stepping into in retirement, not just focusing on stepping away from work. Include travel, new hobbies, volunteering, or rekindling a passion. Having structure and health goals is important and can make the transition easier."

Morris agrees

"I often see people underestimate how quickly life can fill with other meaningful activities," he says. "These are the things that you've put off because you've been working so hard… and they tend to be more rewarding than people expect."

See if you can ease into things

The idea of going from working full-time to retiring overnight can be emotionally jarring. That's why you may want to look at ways for your husband to ease into this phase of life rather than dive in at full speed.

"See if you can take a sabbatical or three-month trial retirement," Anderson says. "This lets your husband 'try' retired life without the pressure of a permanent decision."

Morris agrees that in a situation like this, it's worth exploring a compromise, such as part-time work or consulting.

"This is the sweet spot for so many folks," he insists.

Remember why you worked hard to save

A lot of people get so focused on meeting a savings goal that they forget what the money is supposed to do for them. Morris says it wouldn't hurt to remind your husband why you both hustled and sacrificed, and to see if that helps him change his tune.

"The point of reaching a number was never to just keep accumulating," Morris says. Rather, he explains, a $5 million nest egg can "create freedom while you're healthy enough to enjoy it."

And as Anderson points out, "From 66 to roughly 75 are the healthiest, most mobile retirement years. The question becomes, what experiences will you regret postponing?"

Give each other the freedom to make your own decisions

When you're married, it's natural to assume that retiring at the same time makes the most sense. But that's not a given.

"Many couples retire at different times," Anderson says. "If you're ready to retire, go ahead and enjoy your freedom, hobbies, and friends, even if your husband needs to taper down more slowly."

Having each of you retire at your own pace could also help prevent feelings of resentment. You don't want to feel limited by your husband's desire to keep working, and your husband doesn't want to feel pressured into a lifestyle change he may not be ready for. Retiring at separate times could give you the best of both worlds and help you avoid needless conflict.

The 10 Best Splurge Destinations for Retirees in 2026
Average Net Worth By Age: How Do You Measure Up?
We Retired at 70 With $4.3 Million. My Wife Won't Spend 'Our Grandkids' Inheritance,' but I Want to Travel.
We Retired at 62 With $6.1 Million. My Wife Wants to Make Large Donations, but I Want to Travel and Buy a Lake House.

Get Kiplinger Today newsletter — freeContact me with news and offers from other Future brandsReceive email from us on behalf of our trusted partners or sponsorsBy submitting your information you agree to the Terms & Conditions and Privacy Policy and are aged 16 or over.

Maurie BackmanContributing Writer

Maurie Backman is a freelance contributor to Kiplinger. She has over a decade of experience writing about financial topics, including retirement, investing, Social Security, and real estate. She has written for USA Today, U.S. News & World Report, and Bankrate. She studied creative writing and finance at Binghamton University and merged the two disciplines to help empower consumers to make smart financial planning decisions.