Why Staggered Retirements Pay Off for Couples

In this age of dual income families, chances are you and your spouse won't retire at the same time. You may be different ages, or have different ambitions -- or there might be financial reasons for one of you to delay retirement.

Here's a quick review of some factors that might make it worthwhile for couples to consider two separate retirement dates:

Putting Off IRA Withdrawals

If your spouse continues to work, he or she can continue to make annual contributions to an IRA (up to $5,000 in 2008). Workers aged 50 or older can contribute an additional $1,000 (in 2008) a year to their IRAs in the form of catch-up contributions. ...