Anne and Orville Hollenbeck have been married 56 years, but they still manage their own bank and investment accounts.

She says it’s because they maintain some degree of financial independence even while they cooperate and compromise on almost everything.

Orville is a retired Navy pilot who was in active service until 1947. After his military career, he worked as an electrical contractor and later opened his own business, where he worked until his mid-70s. Orville is 81.

His wife Anne raised three kids and did secretarial work for the business. She is six years younger.

Coming out of the Great Depression era, they tried to be frugal parents and not waste what they earned. The couple never did without or suffered. They were able to purchase most everything they wanted — in cash.

Anne can remember only three things they made payments on: two homes and a car.

It was their smart handling of money and investments that allowed them to live comfortably on Lake Norman before selling their home 15 years later for a sizeable profit.

Their greatest ambition, however, was to ensure that the children had college educations.

They succeeded.

Neither she nor Orville thought much about their retirement during their prime working years, Anne said.

What they did think about was keeping control of their assets — something they have long been accustomed to.

Orville’s retirement from the military means a monthly income check for the couple, which they call a supplement to their investment income. The Hollenbecks consult with two investment companies, but maintain final decision-making authority.

“You can trust your own judgment better than you can trust others, even though they are professionals,” Anne said.

During their working years, it was a similar story. Anne had her own assets and kept a portfolio of investments while her husband kept money in mutual funds.

They keep their finances pretty much the same even today. Their separate bank accounts allow them the freedom to do what they want with their money, when they want.

“I would not want to have to ask my husband what he thought about this, that or the other,” Anne said.

Orville’s Navy career has helped them tremendously since they both stopped working. One of the key reasons they moved to Salisbury was the VA Medical Center, where they can get prescription drugs and medical care for discounted prices. Those benefits come on top of the pension and they never end.

Anne urges everyone considering marriage to maintain a nest egg and some independence, and be ready to cooperate and work together.

That spirit of cooperation is evident in that the Hollenbecks also maintain joint bank accounts and discuss their investment options and decisions together often.

Preparing for retirement isn’t something you wait until you are 45 or 55 to do, Anne said. Her children and grandchildren (she is a great-grandmother) work for companies that provide retirement benefits — something not available to her generation.

“You have to work at it steadily,”she said. “Whenever possible, do without charge cards.”

It’s important to know where your money is coming from and you can’t be sporadic with your spending, she added.

Their investments paid off and the Hollenbecks have lived comfortably based on the decisions they made during their working years. They have taken more than a dozen international trips and frequently visit family across the country.

With the right attitude and planning, they say anybody can do it.

“For married couples, it’s extremely important to be able to work together on a goal and financial plan.”

Contact Michael Bostian at 704-797-4280 or mbostian@salisburypost.com .