Reply to The financial advantages of NOT getting married

Forum Index » Money and Finances

Reply to "The financial advantages of NOT getting married"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]OP here:

I ran the math earlier this AM. If we get married and register with the government, we will pay an extra:
-$7500 per year in student loans. This amount can go up as we earn more money (I need to submit taxes every year to re-certify), and thus less is ultimately forgiven by PSLF.
-Around $2-3K more in taxes due to the loss of SALT deductions

Where things get tricky is if we have kids. I think - from a tax perspective - we may be more advantaged if we have a kid and just have one of us claim the child as an exemption.

My only big concern is what happens if one of us dies. I do not believe she would be able to claim Social Security survivor-spouse benefits. I need to look more into this.

Once PSLF is complete, I would move forward with a legal marriage.

Is this crazy? We can save $60K or so over the next 6 years by not marrying. [/quote]

Show her the math.  Ask her what her thoughts are.  Talk about a time table for kids and work back to legal marriage from there.  Talk about having a religious ceremony only.  Let her know you love her and want to marry her; you are just asking what she thinks about the finances.  You have to be able to communicate effectively about all of these things.

If you are  worried about SS benefits (which hey, may not be there anyway!), buy a life insurance policy.  Term life for cheap, whole life if you want an investment.  The younger you buy, the cheaper the rates.  Last time I checked it takes ten years of marriage to qualify for spousal SS benefits.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics