Couples and Money Advice for Seniors

Finding someone to share your life with in later years can be wonderful and actually extend both your quality of life as well as your lifespan. It can bring with it however some issues that are complex and should be discussed.

Normally, when we have reached retirement, we have reached financial security. Many seniors own their own home, have 401ks and retirement income. The thought of risking financial stability and our loved one’s inheritance can be rather daunting.

Many seniors are no longer marrying because of their finances. Living together and even maintaining 2 homes is quite accepted and perhaps offers a solution to being able to have companionship without the concerns of risking wealth or security.

The decision of where to take a relationship in our later years is one that has to be made by both parties. There are many successful marriages that take place because couples can work through the decisions of how the money will be spent, merged and if one or both parties will take part in providing income.

When dating, the same rules normally apply. The male normally will pay for most dates. When the relationship becomes more serious, then it is important to make decisions about the future. Many seniors feel they don’t want to waste years with someone that is not of the same mindset. Don’t feel uncomfortable communicating your feelings and expectations.

There are ways to successfully have a long term relationship or marriage by coming to an agreement concerning money. Prenuptial agreements are very popular and can assure both you and your partner as well as family members of everyone’s intentions. It can relieve the stress of feeling powerless about your financial future if your spouse goes off the deep end with spending. Or, if something should happen to you and you want to make sure your children are provided for.

The three most important things that we recommend at Successfuldatingpro.com is that you:

1. Make a will

2. Discuss a possible prenup if contemplating marriage

3. Discuss fully how you feel about money, spending and how each one of you is going to contribute.