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I talked to a financial planner once who holds regular “state of the union” meetings with his wife to talk about money. That’s a great practice to follow, and recently I learned a way for couples to build on it. You might call it morbid, but I call it smart: every year, partners should rehearse what to do, financially, if the other dies, according to an advisor who works with widows. There’s plenty to talk about. For example, if you’re both collecting Social Security, how much will your income fall when you start receiving one check instead of two? What are your online banking passwords? And, will one income cover the household bills until any life insurance payouts arrive? Break out some wine if that’ll help the discussion go down. It’s not easy to talk about this stuff, but not talking about it will prove even harder for the surviving spouse if the worst comes to pass. Learn more about how to protect yourself in today’s edition.

Best wishes,

Elizabeth

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TIMELY RETIREMENT NEWS, INSIGHTS AND ADVICE
Married Women: Do This One Thing to Protect Your Finances

Don't wait until your spouse dies to determine how widowhood might affect your cash flow.

This Is the Cheapest and Most Scenic Retirement Destination Abroad

A retired couple can enjoy a pleasant life on just $1,700 a month.

Why Tiny Turkeys Are All the Rage This Thanksgiving

They're no small potatoes.

READER INSIGHTS

Exciting news! The author of our November book club selection, Joan Frank, will be joining us in the Retire with Money Facebook group for a book talk on Nov. 27 at noon ET! Her book is All the News I Need. Get your questions ready!

RETIREMENT NEWS FROM AROUND THE WEB

Why Recent Market Turmoil Might be a Good Thing for Your Tax Bill

Tax loss harvesting can help you lower your liability. CNBC

7 Surprising Things Medicare Doesn’t Cover

Knowing the gaps can help you create a more realistic retirement budget. INVESTMENT NEWS

10 Things to Consider When Relocating After 50

Pro tip: municipalities’ Twitter feeds can be excellent sources of information. NEXT AVENUE

Help! My Boss is My Kids’ Age!

Banish the phrase, “back in my day,” from your repertoire. CONSIDERABLE

ABOUT ELIZABETH

Elizabeth O'Brien is a senior writer at MONEY, covering retirement and health care. You can email her at elizabeth.o'brien@moneymail.com and follow her on Twitter at @elizobrien.

 
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