. October 28, 2021

Should You Really Put A Ring On It? The Benefits Of Getting Married


Marriage is a huge change. Many people may not realize it until the wedding is staring them in the face. Unfortunately, some people start having doubts at this point. Maybe it’s anxiety or clarity, but many people start getting cold feet about marriage. However, they might be ignoring the benefits of marriage. While love is a primary reason for all marriages, there are benefits provided to couples.

Today, let’s talk about some of those benefits. Marriage offers several new avenues for couples to travel together. It’s important to know all of this before tying the knot.

Increased Income

Having a partner ties your financial lives together. You both retain some form of financial independence. However, it’s a fact that a lot of expenses are now combined since you now live together. From mortgages to groceries, make sure you are financially ready. This makes some financial goals easier to achieve. Like all things, you should communicate all of this to your partner. Plan your financial future together and you will accomplish much.

Gain Social Security Benefits

The primary benefit of marriage is the social benefits. After all, the vows ask for you to care for each other through sickness and in health. That promise is now easier thanks to the social benefits provided to married couples. Spouses can collect upwards of 50% of their significant other’s benefits. These benefits can be used after one year of marriage.

In addition, social benefits act as a safety net. If the worst happens, it’s important your spouse has a safety net. If one of you were to pass away, the other would receive survivor benefits. This only applies in full once you are 60 years old.

Flexible Mortgage Options

Some couples may opt to buy a house. Each couple is different, so applying for a joint mortgage is not an automatic benefit. To reap the benefits of a joint mortgage, both partners must have a good credit score. Not only that, they must have similar levels of income. The overall loan is Approval will still look at all of those when applying for a mortgage. Married couples can potentially have an easier time qualifying for favorable loan terms.

However, in the case that your partner has a lower income, this doesn’t mean they can’t help you. The higher-income partner can apply for the mortgage under their own name. This means any difficulties of a joint loan are no longer a worry. Your partner can still help you pay off the loan. Whatever you choose, building your future together needs communication. Money isn’t the only factor when applying for these goals.

Health Insurance

Certain health plans allow for your spouse and family to be included. This is beneficial if one of your plans offers better coverage, cheaper costs, or both. Ask your employer if you are eligible for these kinds of benefits. If you are self-employed, you can ask around for the best health plans.

There may be some costs added to account for more people. However, this is often cheaper than two separate health plans. Not to mention, it is easier to manage. Centralizing your healthcare can make accidents or sickness easier to deal with. A family counts towards your insurance maximum. You can use this to justify the surcharge from a spouse. It’s cheaper than paying for two insurance plans.

As with all financial decisions, talk this out with your partner. Check which of you have the better health plan and decide if you want to merge. 

Retirement Benefits

Many institutions have retirement benefits for married couples. A spousal retirement account can allow you to put income towards your partner. This can be beneficial if one of you has decided to age in place. Couples can plan for this especially if their career paths vastly differ in income. The higher income of the pair can provide their partner with security. In a solid union, you should always consider the future. Retirement is the final stretch, so make sure you’re ready for it.

Joint Estate Planning

An estate is a morbid thought for some. However, it’s important to be prepared for the worst. Life is short, and we do not know what it has in store. Planning your estate early ensures your loved ones are accounted for after you pass away. An estate plan includes financial insurance. This happens through the passing on of assets and cash.

Sentimental items such as engagement rings are also covered by the estate. This is all given to your loved ones after your passing. The estate of a deceased spouse is tax-exempted. These items are inherited by those named in their will. Of course, this means their partner and family. While it’s sad to think about, it’s comforting to know your spouse can still help you, even when they are gone.




    I’m, a writer, podcaster and artist helping people eliminate emotional baggage clutter for better relationships, self-esteem and work. Enjoy my blog, learn from my mistakes and take heed of the pearls of wisdom I've picked up over time! If you want to share your experience or post your article then connect with us.



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