Source - Unsplash
Your Guide to Life and Marriage in Your Senior Years
There is no wrong time to fall in love, even if you are older and living out your golden years. You can’t predict when you will find that perfect person that you want to spend the rest of your life with, but you can have a plan in place for how you want to structure your marriage, finances, and living situation. Here at Fanwer, we love to help people live their best lives, so we have some great tips for managing your relationship during your senior years.
Finding a Home
Now that you are coming together as one, you’ll probably want to start thinking about your living situation. There is a good chance that you each have an existing residence so you will have to talk about if you want to keep those separate homes or sell one and live in the same house together.
If you do not currently own separate homes, then you need to decide if you want to purchase a brand new house or rent a property. If you do rent, then you won’t be tied down so you can take the trips that you want to take or move to a different town on a whim if you choose to do so. You may be able to afford a great rental by selling your existing home, but make sure that you both agree on the terms.
In the case that you do buy a new property, you will need to come to an agreement about who will pay the mortgage and who will pay the other bills. You should also make other important financial decisions, including whether you will pool your money together or keep separate accounts. Either way is fine as long as you agree.
You can also decide if you want to make additional income by starting a business together. In addition to making more vacation money, being co-owners of a business is a great way to spend more time together. Sit down and decide what type of company you want to start and begin laying the groundwork.
Also, discuss how you will market the business. If you have some time available, create a website where you can list your products or services. Then, design a detailed infographic. You can build your infographic with a template via an online tool like the one offered by Adobe. You can design one for free and choose from any number of templates that you can personalize and share with your customers.
While you likely have many wonderful years ahead, you will need to talk about the possibility that one of you will require long-term care in the future if either one of you gets sick. In addition to the emotional toll, this care can also be very expensive, sometimes adding up to hundreds of thousands of dollars. So, you will need to make the proper plans like deciding who will pay the bill and what account that money will come out of.
Care for Children
Another financial issue that you may or may not have to contend with is the care of potential children. If either one of you has children that you still support, you will have to decide where that money will come from and what expenses you will still pay. Potential costs could include the price of private school, lodging, hobbies, and other miscellaneous responsibilities.
Before you get married, you will want to sit down and talk about all of these important issues and make final decisions so there are no unanswered questions and you can enjoy wedded bliss. If you would like to know more about the Fanwer products that can help you during your elder years, then email us at firstname.lastname@example.org.