Preparing for retirement can be less complicated for married couples compared to single individuals. They have each other for support in saving for the future and sharing domestic responsibilities. However, if couples don’t align on their expected retirement lifestyle, it can lead to significant issues.

Ideally, it’s best to start discussing your joint plans well ahead of retirement. If you and your partner haven’t initiated this dialogue yet, it’s a good idea to start considering it. Here are five key questions to address.

1. What is your vision for retirement?

This is the enjoyable part of planning for retirement. It involves discussing when and where you wish to retire, how you envision spending your retirement days, and any significant purchases you both desire. It’s a great opportunity to outline your primary retirement objectives and ensure you’re headed towards a common future.

Be prepared to make some compromises. If one partner is eager to retire in a different state while the other prefers to stay in their hometown, finding a middle ground will be necessary for both parties’ satisfaction. Address these choices before retirement so you can plan your budget effectively.

2. When will you start receiving Social Security?

You can begin claiming Social Security anytime after you reach 62, but there are strategies to maximize your lifetime benefits. The later you claim, the larger your monthly payments will be, reaching the highest benefit if you wait until 70.

While deferring Social Security usually yields greater lifetime benefits, this may not apply to individuals with shorter life expectancies, and it might not be practical if your personal savings are minimal.

Also, consider that you might qualify for a spousal benefit based on your partner’s work record, worth up to half of their benefit at their full retirement age (FRA)—66 to 67 for those currently working. The Social Security Administration will automatically issue whichever benefit is larger, but you cannot access the spousal benefit until your spouse applies for it.

Take some time to explore how much each benefit could be worth, so you can prepare for what portion of your retirement costs you’ll need to fund independently. Setting up a “my Social Security” account allows you to use a calculator to estimate your benefits based on different claiming ages.

3. How will you manage healthcare expenses during retirement?

Healthcare costs can significantly impact your retirement budget, particularly if one of you has existing health issues. While you’ll be eligible for Medicare at 65, Original Medicare has various gaps. To reduce your out-of-pocket expenses, you may require additional supplemental insurance.

Don’t forget to include long-term care expenses in your budgeting as well. Although long-term care insurance can be pricey, it might be advisable if you think there’s a chance you’ll need skilled nursing care someday during retirement.

4. What is your savings strategy for retirement?

With a general idea of your retirement savings needs and additional income sources like Social Security, you need to create a plan to achieve that savings goal. If both partners are working, consider how much each will contribute and which accounts to use.

If only one partner is employed, a spousal IRA could be an option, allowing the working spouse to contribute to a regular IRA set up in the stay-at-home spouse’s name, provided their annual earnings cover the total contributions to both partners’ retirement accounts.

Arrange yearly discussions to review your savings strategy and make necessary updates. You might need to revisit your plan following job changes or significant lifestyle shifts, like welcoming a new family member.

5. What estate planning is still outstanding?

Estate planning involves creating wills or trusts and appointing guardians for minor children in case of an untimely death. You may also want to establish powers of attorney in case one partner becomes unable to make decisions. For those with significant assets, estate planning also includes figuring out how to cover estate taxes.

If you haven’t yet considered what will happen to your assets after your passing, it’s important to take the time to reflect on this. Consult with an attorney as necessary.

There’s no need to tackle all these topics with your partner at once; you can go through them one by one if that seems less daunting. Aim to leave each discussion with some actionable steps you both can take to get ready for retirement.

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