web analytics
July 5, 2015 / 18 Tammuz, 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

The author's opinion does not necessarily reflect the opinion of The Jewish Press.

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
Secretary of State Hillary Clinton with Prime Minister Netanyahu in 2012.
Hillary Clinton Says She Will Be Better Friend than Obama to Israel
Latest Blogs Stories
Many Moments with Jerusalem's Jordana!

Moving to Israel seems crazy but this week’s my first “aliyaversary,” my Aliyah anniversary! WOW!

Malachi Rosenfeld HY"D

Israel & world Jewry are under attack and in grave danger but UN’s focus is denouncing Israel

Doug Goldstein

What is human chess? How easy is it to predict the actions of others?

Rethink UN bias against Israel

It’s time to stand up against the bias & no longer accept the constant UN prejudice against Israel.

Malachi Moshe Rosenfeld, injured in a terror attack in Samaria, has died (HYD)

Allah is NOT merciful: Stabbing, beheading, shooting innocents is barbaric & cowardly acts of terror

How could the Jerusalem Post think the attack could have been other than a terrorist act?

Going to Mt of Olives cemetery was like visiting Jurassic Park in a jeep with dinosaurs rampaging

Hanan Porat z”l, teary-eyed said ” We returned to the Gush(Etzion)we shall return to the Gush(Katif)

“Mispachology”: Theory you share a common link with someone you’ve never met or been in contact with

It seems that Pres. Rivlin has joined all other so-called Right politicians and now is trending Left

Dear Muslims, Happy Ramadan. It’s clear from the news that your people are having a “bang-up” month

The President was right, every Jew should have a gun. He just asked the wrong person about it.

Everybody knows that during Ramadan Arab Muslim terror attacks increase.

UN says Hamas tried to warn us of rocket attacks? I was here. Not once did those…I want to scream

{Originally posted to the author’s website, Emes Ve-Emunah} The inevitable finally happened. Rabbi Avi Weiss has dispensed with his prior refusal to call his female ordainees ‘rabbis’.  I challenged him to stop dancing around that title with made up titles  (like Raba and Maharat) and he finally rose to the challenge. His motivation in not […]

More Articles from Doug Goldstein, CFP®
Doug Goldstein

What is human chess? How easy is it to predict the actions of others?

Doug Goldstein

How can you transform thinking to action? What are the mountains you need to climb to reach goals?

Sharing tips for preparing to give a talk and how to get started in the world of public speaking.

Do young adults know the difference between needs and wants? How can they develop good money habits?

What are the real intentions of online sellers? and the BEST way to assess your product’s value.

How has Putin’s plan to revive his country’s fortunes as a superpower affected US on world energy?

What’s it like to live in a West Bank settlement & are these communities good for Israel’s economy?

Are you a US citizen living in Israel? If so, you may benefit from opening a US brokerage account.

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: