Perhaps you never expected to meet “the one” later in life – but to your surprise, you fell in love during your golden years! Whether you’re remarrying, or this is your first time walking down the aisle, tying the knot as you enter retirement can be the start of a beautiful new chapter. 

However, if you anticipated spending your retirement solo, you might have a lot of questions about your next steps now that you’re married. Here are a few tips on managing common situations that can come up when you get married as a retiree.

Having a Wedding

Perhaps you and your partner are engaged, but you haven’t gotten married yet! If you’re in the process of planning a wedding, it’s time to start thinking about how you want to celebrate your special day. Many senior couples who get married opt for intimate ceremonies with family and their closest friends, but if you’d like to have a large celebration, plan the day that your heart desires!

Combining Finances

Maybe you figured that you would be handling your retirement expenses on your own and living independently. But now, your plans have been surprisingly upended! Splitting your retirement expenses with a partner can ease your cost of living burden in retirement, but combining your finances is a big step. Whether you’d prefer to keep your finances separate, or you’re thinking about combining your savings and assets, it’s best to talk to a financial advisor before making any big decisions. They can help you create a financial plan for retirement that works for both of you.

Bringing in Income

What if you and your spouse would both prefer to have a little more wiggle room in your budget so that you can fully enjoy your retirement together? You may want to launch a small business! Not only will pursuing entrepreneurship give you the chance to learn more about each other and work on projects you can both be proud of, you’ll also get to splurge on fun activities together!

Working part-time in retirement does not carry the same pressures and responsibilities of working at a 9-to-5 job. Instead, you can offer your services as a freelance or consulting team and work flexible hours. You’ll be able to leverage the skills you mastered over the course of your extensive careers! If you do decide to start a business, you’ll want to form it as an Oklahoma LLC for limited liability and tax breaks. You can work with an affordable online formation service for the filing process – they’ll help you submit all of the necessary paperwork for your state.

Planning for Long-Term Care

What will you and your spouse do if one of you needs long-term care in retirement? You might be interested in taking out a long-term care insurance policy ahead of time to cover these potential costs down the road. Elder Law Answers states that you may be able to purchase a “shared care” policy. This pools benefits for both of you, and you can split the coverage as necessary depending on who needs care.

Deciding Where to Live

If you and your spouse got married in retirement, you were probably both established in your respective hometowns. Perhaps you both owned property, or you were renting in comfortable retirement communities. If you met because you lived in the same area, deciding where to live might not be such a tough decision, especially if one of you would like to hold on to your old property and rent it out! If you lived in different cities, it’s important to weigh your options carefully. Go Banking Rates recommends settling down in a place where you can enjoy great healthcare, an affordable cost of living, and plenty of things to do.

Setting Household Rules

Have you lived alone for years before marrying your spouse? It might take some time to get used to sharing your living space with someone else! Make sure to talk about how you’d like to split up domestic tasks and whether or not you’d like to hire outside help for assistance. You can also try to coordinate your daily routines.

Family Obligations

Now that you’re married, you’ll need to consider your spouse’s family commitments in your own schedule. It’s important that you divide your time fairly between your families. Talk to your spouse about when they want to visit their family and let them know when you’d like to spend time with yours. Come up with a plan for attending holiday gatherings with your families, and make sure to communicate openly with your spouse when there are other family events that you’d like to attend. It’s important to ensure that both of your families feel valued, even if you have to divide up your commitments now.

Enjoying Hobbies

When you’re adjusting to such a major life change, it’s all too easy to get bogged down by logistical questions. Remember, getting married and spending your golden years with the love of your life is a source of joy! As you’re wading through financial paperwork, finding a place to live, and getting used to managing your household as a team, take some time to focus on hobbies and activities that you both love. If you enjoy traveling, you could plan a trip, or if you’re great cooks, you can experiment with new recipes together. Now, you can embrace all of the opportunities that retirement brings with your spouse by your side!

You can never predict when you’ll meet someone with whom you want to build a life. For some couples, this moment happens in retirement! If you’ve met a fellow retiree who you can’t imagine your life without, these tips will help you navigate all sorts of challenges that you might run into in your golden years.

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