How to have a successful new marriage later in life

Your “golden years” can be the best time of your life, especially when you've found just the right person to share them with. However, entering into a new marriage and merging your lives and families can sometimes be tricky. Read on for a few ideas about how to smooth out the process.


Incorporating Your Families
One of your first concerns in your new life is to incorporate both of your families into it. Let
your family members get to know each other and spend time together. Holding joint family
gatherings and holiday celebrations can help with this. The two of you may also want to
take your grandchildren on outings, so they can adapt to the new situation and learn how
much fun having a new grandparent and cousins can be.

Finding a New Home
You must also think about blending your two households. It can be difficult for one spouse
to move into the long-time family home of the other, so you may want to consider buying a
new home to start your new life together. Search for a place big enough to accommodate your physical needs, as well as all your combined possessions, although you may have to eliminate some old furnishings or purchase some new ones.

Dealing With Finances
As you join your lives in marriage, you must also decide how to handle your finances, and
this can be quite difficult. Do you want to combine your bank accounts and investments,
keep each person's finances separate, or designate one spouse as the owner and the other
as the beneficiary?

Also, update your Social Security information, and determine how your marriage affects
that income. Call the Social Security office for advice about your particular situation.
Don't forget to make any necessary changes to your insurance policies and Medicare
coverage. When tax time rolls around, you must decide whether to file jointly or separately.

Planning for the Future
Part of your adjustment to married life is planning for your future. For one thing, you need
to modify your will to reflect your new situation. This may mean making some tough
decisions that your families may not like, so keep the channels of communication open
throughout the process.

Also, consider what may happen if one of you needs nursing home care. Purchasing long-
term care insurance may be an option. In addition, put aside money for funeral expenses, so
your families don't have to think about that later.

Embarking on a New Venture
Finally, you and your spouse may embark on a new venture together by starting a small
business. You can enjoy working together while giving your income a boost. This kind of
job doesn't have to be a regular 9-to-5 commitment. You can work on your own schedule
by freelancing or consulting. You may even consider forming a corporation for tax benefits,
flexibility, and limited personal liability. Research carefully, for regulations vary from state
to state.

Enjoying Married Life
As you integrate your families, home, finances, and work, also focus on simply enjoying
married life and loving your spouse.

Visit the Silver Key website for more resources on how to live your best life in your golden years.
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