Guest Post by Jenny Wise
Marriage is a beautiful partnership and a compromise among equals, but it takes work before your wedding day. You need openness and honesty, not just the desire for a successful marriage. Planning in advance and communicating effectively are two important factors when marrying during your golden years.
Thoughts on Finances
Discussing financial affairs prior to marriage becomes more important after age 60. After all, you have estate and retirement planning to consider. Confiding in your spouse regarding any debt can prevent problems later in your marriage. You need to update your information with the IRS and Social Security. Setting up a joint account for shared expenses but having some bank accounts separate can also be an acceptable practice.
Be more mindful of your spending habits. If you’re shopping for stuff for your new home and life together, take a moment to do your due diligence and read unbiased product reviews to make the most bang for your bucks.
Considerations for Your Home
Selling your home may be an option if you’re planning on moving in with your spouse. Consider making budget-friendly repairs yourself to add beauty to your home. Get your home ready for its next owner by adding a coat of paint, updating the kitchen, or sprucing up curb appeal. PRK Williams Building Group can assist with your home remodeling needs. Professional contractors can complete more extensive repairs, such as updating your landscaping. Search for lawn care companies online to easily compare reviews, rates, and offerings from various providers in your area.
Of course, you’ll also need to figure out where you will live together. Although taking on a new mortgage at this point in your life may seem like a tall order, there are some financing options that may suit, as long as you take the time to search for them. If you or your significant other is a veteran, for instance, VA home loans can be a great option. Check out VA loan requirements to check eligibility.
Tips to Make Medicare Easier
The average cost for senior health care can be more than $10,000 a year, and your spouse can be responsible for any debt you incur. Make the challenge of applying for Medicare easier by consulting with a specialist who can help you make sense of its complex guidelines.
Reliable medical care is available virtually and provides benefits, including flexibility, more choices for care and treatment, and easy fulfillment of prescriptions. Virtual doctor visits are usually more budget-friendly than in-person ones, which boosts savings when you have a copay.
Benefits of Starting a Business Together
Becoming a business owner has many perks, including staying busy while enjoying retirement. Active seniors can appreciate spending more time together while using their professional skills. Freelancing boosts your income while you create your own schedule; you’re not dependent on a regular job.
Think about forming an LLC to protect your business and personal assets in case of liability. Limited liability companies protect your personal assets from any possible business-related financial or legal issues. They also provide flexibility and tax advantages and involve less paperwork. State regulations regarding forming an LLC differ, so check the rules in your state before proceeding.
Remember: Age Is Just a Number
Newlywed life can open doors for you regardless of age; you can choose many enjoyable activities as a couple. Having a picnic or visiting a new restaurant inspires foodies to savor life, one bite at a time. Connect to each other’s sense of adventure by planning a trip or trying something new. Birdwatching, hiking, or volunteering can further connect you to your environment. Successful couples work toward common goals and see each other as friends.
Marrying in Your Golden Years
Marriage is a lifelong commitment, but you can start anytime. Work with your potential spouse to avoid pitfalls, and maintain communication as an effective outlet for your marriage to grow. Contact To The Rescue for services that can help improve your quality of life.