Marriage is losing popularity with more and more people choosing to stay single. However, this is not the case for those who are over 50 years old. Statistics show that there has been a significant increase in the number of seniors who are getting married, which is also known as “grey marriages.”
The main reason why more and more seniors are getting married could be due to the fact that they have already established themselves financially and have their careers set up. They can afford to provide a stable life for their partner and children, which is something that younger generations cannot do yet. When people get older, they tend to focus on what really matters in life – family and relationships. Here are some things to keep in mind when you’re ready to tie the knot, courtesy of Post Freaks.
Finances
When you’re at or near retirement, Social Security can play a big role in your finances. Divorced spouses can collect benefits based on their ex-spouse’s record. If you are the ex-spouse of someone who has died, you can still collect survivor benefits if you were married for at least 10 years. When you remarry, however, you lose the ability to claim Social Security on your former spouse’s record until your current marriage ends, whether by death or divorce. Since Social Security can be extremely complicated, it’s best to consult with a specialist.
You and your partner should consider all your assets, your savings, and your liabilities. You may want to look at each other’s credit reports and scores, even if it’s an awkward discussion, in order to make the best financial decisions.
Senior Living Communities
Dating in retirement means more free time to travel and spend time together and actually get to know each other. More and more people meet their new loves in a senior living community, where you can meet and mingle with people who share your interests. These places have amenities designed particularly for seniors with dining, activities, entertainment, and more, and are wonderful places to make new friends and even meet new love interests.
If a New Home Is in Your Future
If you’ve been dating long distance and want to find a home somewhere in between where you can still stay in touch with family and friends, then buying a home together makes sense. Today’s very competitive housing market may mean snagging that perfect home as soon as you find it. If you still need some time to sell your current home, it’s possible to ask for an extended closing to give yourself some extra time to make it all come together.
Speak to your real estate professional or mortgage consultant to learn about your options. Next, always keep in mind the golden rule of real estate: location, location, location. You’ll want to be near things like parks for exercise and relaxation, public transportation, shops, and medical facilities.
Alternatively, you could also consider renting. That saves you from the stress of maintaining the home and also allows you to choose a location that has exactly the space and amenities you’re looking for. Simply browse the listings for your area and search for rentals that fit your budget. If possible, always visit them before committing to anything and don’t be afraid to ask questions!
Business Partners and Business Cards
A lot of retired couples choose to create a small business for extra income and for the sheer fun of being co-entrepreneurs. Maybe you both share of love of cooking and want to start a catering business or food blog together. Or perhaps you both enjoy traveling and want to use your experience to start your own travel agency or become hometown guides. Whatever your shared enjoyment is, it can easily be turned into a part-time business.
After you’re decided the business you want to start, you’ll also need to advertise. Social media is a great place for your marketing, but you can also spread the word using a traditional, old-school technique: business cards. This is still an effective way of spreading the word about your business. What’s more, it’s a very low-cost strategy. As an example, you can use a business card maker to create your business card design at absolutely no cost to you. You can even customize your design with both your names so it’s perfectly on-brand for your business.
Getting married is romantic at any age, but just like at any other age, opportunities and challenges are present. Finding the best place to live at the best price, learning about senior communities near you to search for your best options, and understanding all the financial aspects of your marriage means you’ll be off on your new adventure worry-free and happy.
