How to Build a Couples’ Retirement

After almost 15 years of marriage, I understand how important personal finance is to maintaining a healthy relationship. Even though my wife and I plan on retiring together, it is still important that she has her own source of income. With that, we plan on building two separate yet almost identical retirement plans for us. We are not including military retirement in these calculations. Our military income will go towards buying more assets, that make us more money. This is the simplified version of what we are attempting to create.

1) Investment income- This money is based on income derived from dividends. In order to get about $2,000 a month in dividends, we will each need roughly $600,000 invested at a 4% dividend yield. 

2) Real Estate Rental Income- This money will come from owning and renting multi-family properties. I figure each of us would need to have one 8 unit complex to achieve $2,000 a month. This shouldn’t be too difficult to obtain.

3) Business Income- This will be from our own businesses. The most important thing for us, in regards to our business, is that we can run it from anywhere. Whatever we create, we will need to be able to turn it over to someone else for day-to-day operations. Kris is thinking of starting a nail salon that she can transfer management to someone else. I would like to write books, blog, youtube, conduct seminars, and mentoring/coaching.

Why is it important that we NOT include our military retirement? Well, we earned our military retirement, but I want to achieve these things on our own. Being able to have our military retirement as a backstop is great, but there should be no reason that we cannot achieve these goals. 

What are your plans for your single or couples retirement? Will you include military retirement in your calculations? 

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Disclosure: I am not a financial advisor or money manager, and any knowledge is given as guidance and not direct actionable investment advice. Please research any investment vehicles that are being considered. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it.  I have no business relationship with any company whose stock is mentioned in this article.