web analytics
April 19, 2015 / 30 Nisan, 5775
At a Glance
Blogs
Sponsored Post


How Marriage Can Make You Richer

The bottom line is that in financial terms, marriage may be justified.

Comedian Billy Connolly once said, “Marriage is a wonderful invention; then again, so is a bicycle repair kit.” However, what Mr. Connolly probably was not aware of when he said this was that marriage can also prolong your life more than a bicycle repair kit would.

Once retired, married couples tend to live longer than single people do, according to the National Bureau of Economic Research. But they don’t just live longer. They also accumulate more wealth during their working years. Of course, every retired person’s situation is different. Some have managed to accrue enough savings and successful investments in their working years to have a comfortable life, while for others, when their income drops post-retirement they have very few resources.

Some people can retire well even though they have minimal savings. This is because they may have assets, such as a house and pension benefits, that allow them to live comfortably.

What was interesting in the National Bureau of Economic Research’s study was that it showed that single people accrued far fewer assets than married people, even though they had fewer people to support during their lifetime. Interestingly, 57% of single-person households were left with no housing wealth or just $10,000 in savings when they passed away. While the surviving spouses of married folks were often hit hard financially when they were widowed, they still did better in terms of asset accumulation than their single peers.

The bottom line is that in financial terms, marriage may be justified. For example, although there are usually more dependents in a marriage situation, such as children and/or a stay-at-home spouse, couples are more likely to put down roots and buy a house, which can significantly boost their net assets, post-mortgage payments. And when both partners in a marriage have worked, then the differences in asset accumulation are even more obvious.

While comedians often like to make fun of marriage and family life, there is nothing funny about its potential to make you richer, or your retirement more comfortable. And if you and your spouse are so inclined to go bike riding, don’t forget to bring along your bicycle repair kit.  It, like marriage can make your future more secure.

About the Author: Douglas Goldstein, CFP®, is the director of Profile Investment Services, Ltd, a financial planning and investment services firm located in Jerusalem. He specializes in working with clients who live outside of the United States and want to maintain a U.S. brokerage account. Doug’s newest book, co-authored with Susan Polgar, about how using chess strategies to improve your finances, Rich As A King can be purchased at www.richasaking.com. He is a licensed financial professional both in the U.S. and Israel. Securities offered through Portfolio Resources Group, Inc., Member FINRA, SIPC, MSRB, FSI. Accounts held at Pershing LLC., Member NYSE/SIPC, a subsidiary of The Bank of New York Mellon Corporation. Neither Profile nor PRG gives tax or legal advice. Before immigrating to Israel, it is advisable to consult with a tax attorney who is knowledgeable about Israeli law. Contact at doug@profile-financial.com


If you don't see your comment after publishing it, refresh the page.

Our comments section is intended for meaningful responses and debates in a civilized manner. We ask that you respect the fact that we are a religious Jewish website and avoid inappropriate language at all cost.

If you promote any foreign religions, gods or messiahs, lies about Israel, anti-Semitism, or advocate violence (except against terrorists), your permission to comment may be revoked.

No Responses to “How Marriage Can Make You Richer”

Comments are closed.

Current Top Story
ISIS affiliates murdering Christian Africans in Libya
African Christians Slaughtered by ISIS-Affiliates
Latest Blogs Stories

An Israeli TV show about Holocaust Day asserted the Holocaust is/was a European not Jewish tragedy

Former Secretary of State and First Lady Hillary Clinton. (archive)

“I am 100% convinced that she is not in any way anti-Semitic. She is in fact a philo-Semite”

Doug Goldstein

Poverty has become a thriving business; Learn how the payday loan has affected many US households

Prime Minister Benjamin Netanyahu and President Ruby Rivlin

Pressure by Pres. Rivlin for a monstrous “national unity government” has made things worse for Bibi

How do money managers take care of your money? And have you ever heard of “socially responsible” investing?

In the memory of loved ones, I commit to continue the fight for our survival in their blessed memory

The US Consulate in Israel should have people helping US citizens on various tax & benefits issues

This whole Arab Palestinian myth was concocted to prevent a viable Jewish state.

Teaching integrity is allowing family, friends, and associates see the business of living your life.

Chumros-YES! But when it comes to the Chilul HaShem described in the article they couldn’t care less

Yarmouk is the opportunity for “Pro-Palestinian” groups to prove they aren’t just anti-Israel.

Why are employers reluctant to hire Charedim? Legitimate concerns or plain old fashioned prejudice?

Obama’s policies are endangering world peace. This isn’t just an “Israel problem.”

What are common market risks and how do they affect your investments?

Regavim is an NGO whose mandate is to preserve the land of Israel for the State & the Jewish people

The “elephant in the room” is concern a deadlock pressures Bibi to forge a National Unity Government

More Articles from Doug Goldstein, CFP®
Doug Goldstein

Poverty has become a thriving business; Learn how the payday loan has affected many US households

Doug Goldstein

How do money managers take care of your money? And have you ever heard of “socially responsible” investing?

What are common market risks and how do they affect your investments?

Laura Adams, author of Money Girl’s Smart Moves to Grow Rich, managing your money more effectively

Why do you need to file an FBAR if you’re a US citizen abroad? What happens if you don’t?

Why do people feel the need to check their email 50X a day, constantly dipping in & out of Facebook?

How can you turn your passion into your business? How can you build your business around your life?

Find out about peak oil and how the production & sale of cheap oil has affected other oil sources

Printed from: http://www.jewishpress.com/blogs/goldstein-on-gelt/how-marriage-can-make-you-richer/2012/10/15/

Scan this QR code to visit this page online: