Getting married as a senior can be a wonderful, life-changing experience. Finding the perfect partner and making plans for this next era of your life is exciting, to be sure, but it can also come with some stress as you figure out how to navigate things like Medicare, merge your belongings, and find the right home to share. Today, My FrontPage Story invites you to consider these factors when planning to marry as a senior:
Choose the right home for your needs
Finding the right living situation for both you and your partner can take some time, so it’s a good idea to sit down and go over a few things you’re looking for in a home. Consider not only your current needs but also what your needs may be down the road, especially when it comes to your safety and comfort in a home. First you’ll have a handle on what the housing market is like. The median home sale in the US, for example, is currently $388,060, up just over 1 percent year over year. Each region is unique, of course, so check into what’s available in your new area to see what you can afford and how long properties are staying on the market.
There’s always the apartment option as well. Many apartments have security features and access to elevators, which is helpful for older adults; they also don’t require lawn maintenance, and you’ll have help with repairs from the owners. Talk about a budget and start searching online for local listings to find the perfect location to start your new life together.
Consider starting a business
You and your partner may have already begun making plans for retirement, but it’s smart to take a look at all of your options when it comes to your income, especially if you’re going to buy a house. For instance, you might use your specialized skills to start a business together as freelancers or consultants, which would allow for lots of flexibility in your schedule and ensure that you’re able to pad your savings. Not only that, there are lots of resources available now for entrepreneurs who want to start a business of their own, including formation services that will help with filing the paperwork for an LLC. Operating as an LLC can provide tax benefits and protect your assets at the same time, giving you peace of mind as you pursue your goals.
Next, it’s time to spread the word about your business! Social media makes marketing much easier, but it’s essential that you supplement it with some additional tactics, like putting out a newsletter. If you don’t know where to begin, start in Word, then save it as a PDF that you can send out via email and make downloadable on your website. If you need to add to your newsletter, learn how to add pages to a PDF with this free tool.
Go over your insurance needs
Getting married requires some careful consideration not only of your finances but also of your insurance needs. You’ll also need to consider how to handle life insurance policies and whether you’ll need to make changes to them, as well as how your Medicare policies will be affected. While marriage won’t affect your coverage, HealthPartners notes that it may affect the premium you pay, so take a look at the rules online and pay close attention to the deadlines.
Get the family together
While there are many legal and financial considerations to make when marrying as a senior, AAG points out that it’s important to also focus on the familial aspect. Merging two families can be challenging, even if your children are grown and no longer live with you, so it’s a good idea to find ways to bring everyone together. Host a family game night, take a vacation together, or simply stay in touch with group chats and video calls.
It’s easy to fall into routines as a newlywed that only involves the two of you, so you may need to consciously take steps to include your loved ones, especially if you’re moving. If necessary, go over your new insurance policies or estate plans with your dependents so that everyone will have peace of mind.
Starting a new life with your spouse as a senior comes with a lot to think about, from finding the perfect home to ensuring continued income by starting a business. Protect yourself with the right insurance policies and business entity, and keep communication open with both your spouse and your loved ones as you navigate the different aspects of merging your lives.
My FrontPage Story is a gift business unlike any other. Call 717-219-2221.
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