Congratulations! You’ve survived the Big Day and the build up to it. So what comes next? Well, to put it succinctly: now comes the rest of your lives. Thinking about financial considerations do not just stop at saying “I do.” As you move forward with your spouse, there are numerous financial subjects you should be considering now and through the rest of your life.
Download our free Personal Capital Marriage Guide to learn more about the financial considerations that come after you tie the knot.
For most married couples, the difference between filing separately and jointly is one of the most impactful changes when your legal status changes from “single.” The way you file can impact the money you end up eventually taking home; there are benefits and drawbacks to each. Consult a tax professional or a financial advisor to see what might be the best choice for you.
Insurance on its own is an exhaustive topic. When you’re married, it can become overwhelming. The questions are numerous: What type of insurance do you need? How is it secured? How much do you need? A lot of this is dependent on the types of insurance available. From health insurance to life insurance, disability insurance and long-term care insurance, there are myriad types of insurance policies that might be beneficial for you and your new family’s needs.
You should take the time to think through what you want your retirement to look like. Do you want to retire early? What Social Security benefits will be available to you in the future? Will both of you work long-term, or will you be a one-income household at some point? The sooner you talk about this and know your goals, the better off you’ll likely be to reach them.
free Personal Capital Marriage Guide to learn more about these subjects.
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