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Congratulations on your nuptials. While getting married as a senior is a joyful time, it also comes with some responsibilities. If you want to make the most out of your life together, you have a few considerations to think about — a few of which are presented by Senior Outlook Today below.
This sounds like odd advice considering you recently got married so you’re obviously more than friends. However, when you become friends with your partner, you can enjoy life more by having someone who understands you well.
Research suggests those who are friends with their significant other are more likely to be content in life, and it has health benefits, too.
Financial Planning Early
Money is a major stressor in a relationship, so it’s vital to discuss your financial plans early. Think logically about whether it makes sense to combine your finances, keep them separate, or have a shared billing account and separate accounts.
Plan for Long-Term Care
While you ideally want to stay in your own home together as long as possible, forever isn’t always possible. For this reason, at the start of the marriage, discuss long-term care plans.
Besides making arrangements, determine how you plan to fund the care. Would you two sell your current home, or is it in your best interest to take out a long-term care insurance policy or consider a reverse mortgage?
Update Your Social Security Information
You don’t have to update your Social Security information unless you take your spouse’s last name. In that case, you need to let the Social Security Administration know.
You must first complete the change of name form, which you can receive by calling your local branch. When you fill it out and fax or mail it, you’ll also need to send proof of who you are and that you’ve recently gotten married.
Make Finding a Home a Priority
If neither of you has a home that meets your current needs or would just like to start fresh with a new home, it’s essential to work as a team to create a list of priorities in a home. For instance, you should consider mobility when choosing your new home. Make sure it’s in a neighborhood geared toward seniors and in proximity to the amenities you both need.
Bear in mind, you may need to make a quick decision and purchase a home before your old one sells. If this isn’t feasible, look into an extended closing to prolong the time you have.
Consider Starting a Business Together
You can increase the fun you have together and improve your communication by starting a business. Plus, it’s an opportunity to enhance your income and grow and build together.
Whether you need to work past retirement or want to, starting a company can be a way to forgo a traditional nine-to-five job and pursue a dream you’ve always had. You can enjoy your golden years, especially when you choose a business you’re passionate about, such as pet sitting, writing, or tutoring.
Build a Life You and Your Senior Partner Can Enjoy
Make the most of your time with your new marital partner in your senior years by planning smartly and bonding with one another.
Visit Senior Outlook Today for more advice on making the most of your life as a senior.