The Biggest Financial Benefits Of Marriage
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- Опубликовано: 11 июл 2024
- The person you marry can make or break your finances. When you set financial goals together with a frugal spouse, you both build wealth much faster. Budgeting and saving money together is also much easier with the principle, economies of scale. There are so many money related benefits for marriage, like having joint bank accounts, mortgages, and credit cards, and getting tax breaks and insurance discounts, and easier immigration process. All these benefits combined create wealth 4x faster as a unified couple compared to a single individual.
✦✦✦TIME STAMPS✦✦✦
00:00 Why aren’t people getting married?
02:10 Research on marriage and its impact on wealth
04:41 The financial benefits of marriage
07:31 Economies of scale
09:05 Immigration benefits
12:44 The direction this channel is going
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Why do you choose to not get married? Let me know in the comments!
Chances of getting divorce are high and wouldn’t want to split my assets. We’ve been happily together for 25 years. Works great. Anything happens I’m 💯 vested in my financial freedom. 😊
For me it has, in the past, been that the men I dated expected me to give up everything - my dreams, my ambitions, my job - and do all of the housework & rearing the kids. It’s not me. I couldn’t be happy in that lifestyle.
I did recently find someone though who doesn’t want to be the “head of the household” but wants us both to be equals, and is happy to give me my independence and freedom, while we work together as a team. I didn’t think that I would find someone like that.
Now that I have, I’m anxious because he is not well-educated from a financial perspective. That being said, he’s very responsive to following protocol, and I have enough financial savvy for the both of us.
Your video really put things into perspective for me. I was viewing marriage as a massive financial drain.
My boyfriend doesn’t have a high paying job, but he’s a hard worker. I have a business & valuable experience. Now that I can see how/why marriage would be financially advantageous, I feel a lot less anxious about tying the knot.
Thanks for this.
I hope you have/will have more videos like this!
@@AK-jt7kh I'm so happy for you to have found someone who, from my outside perspective, is compatible. When my husband and I were dating, he had come into our relationship with credit card debt and student loan debt. I asked him what he had in savings and he said "whatever is left in my checking account is my savings." I told him that it wasn't savings because whatever was left meant he was going to eventually spend it in the future. So like your partner, mine wasn't savvy at all. What was important was his openness to my ideas. He let me run the household and now we are in a much better place financially and he is very pleased with the results. I also didn't care about his income. Most men in their 20s don't make a lot of money because they just start their career. What matters more is their willingness to go and find work.
Working towards this with my girlfriend. I, personally, want to be on more stable career and living independently grounds before forming a household with her. Your example is also extremely relevant because I am back in school and my girlfriend is not a US Citizen (I am.) Thank you for the added motivation!
Because divorce is hell.
My wife inspired me through her money saving techniques and her opinion. That thing made a lot of chance to invest other things we need. Now, my income has been grown a lot. I definitely respect her, and in my opinion, marriage is beneficial if couples choose right partners.
Another great video!👍🙏☺️
All I keep hearing is you can do the same things single but doing it married is “just another level” and there’s more commitment so it’s better. Idk I’m not trying to be mean but this didn’t identify very many financial benefits of being married. You can live together and have combined finances without a marriage certificate. I was hoping for tax benefits or things to take advantage of as a legally married couple.
Health insurance for one, student loan repayment is another. Just asked my boss to cut my salary and take the money I cut to pay me student loan repayment as a benefit instead. I don't have any student loans but my husband does. So I wrote up a company plan for my boss that says the student loan repayment program can apply to the employee, spouses, and dependents. If he were my boyfriend, he wouldn't qualify.
I'm American. I just got married yesterday. We are both the only ones in our families who are married. Many ppl get married too early and get divorced, and then when it doesn't work out, they become angry and don't ever want to get married again. I feel grateful, and I'm gonna continue to pray over my marriage and family. ❤you have to choose the right partner, that's the key 🔑.
Congratulations! I wish you a very happy marriage
I’m sure everyone that got divorced believed they were the “right partner “ time will tell. The stats don’t lie
This
Such an interesting video!!! Really enjoyed it
Good Video! I agree with your viewpoint
I love this video . Great job
thanks!
Explain to me why one should get married? What is the benefit?..
Great video.
Good stuff
I'm going to keep this clean because I've been a viewer of your channel for a while now and admire your financial savvyness and ambition in life. But Annie, you kind of answered your own question. Divorce rates nowadays are like 50%, meaning half of marriages end in divorces. I understand that traditional societies and cultures like the Asian culture still hold marriages to a high degrees and yes there are many financial benefits of having married. But just seeing our parents, family members, friends, neighbors divorce discourages many. And marriage is a serious commitment. Now that's just rubs onto some young people. Most don't get married because we live in a hook-up culture now and people have many choices and don't usually settle down until way later in life or don't even see a point to do so when people don't commit anymore. Finally, speaking from a man's perspective, marriage mainly benefits women. Besides the expedite on the immigration status thing, combined income, and financial and tax benefits, men don't get much when divorce happens. The courts overwhelmingly favor women and men are stuck with alimony, child support payments , and hardly get custody of kids often of the times. Of course it depends on the state you live in, but divorce courts and laws are just insanely ugly and expensive. You'll argue that what about during marriage? I would say the risk outweighs the pros. Women are financially independent now yet many rely on a man to pretty much have everything and have high expectations that make the bulk of men not wanna commit to marrying her. But in conclusion, not to put the blame on women or divorce, marriage have huge risks that many young people hold off of. It's not that they don't wanna, it's whether if it's worth doing it. When marriage itself costs a lot of money and risks.
you make lots of valid points here kent!
@@AnnieMargaritaYang Sadly, yes.
Excellent statement on a sensitive subject. I intend on spending the rest of my life with my partner of 6 years but the thought of legal marriage given the risk of her deciding to leave terrifies me
What a beautiful young smart woman you are. This is a great video.
I been married for 28 years I’m 42 years old now, . My issue with marriage is that’s there’s no requirement or qualifications to doing it. Weird everything in this world : car, house, jobs requires something to get it but there is none requirements for marriage. (It’s feels like a set up)
Thanks!
Great video!!! For me, my situation is that, I’m not depending on my husband too much right now even though I’m 9 months pregnant. But we are going to rely on him financially when & after our baby come out. I’ll be a full time mom for at least 2 years. He is the main income for our household. That’s one of the benefits of marriage too. Lol
Qwency! I never expected that from you to just be a full-time mom for two years! You always work, work and work. Hope to visit China sometime. I go fully remote next year and will be traveling the world!
Yes make the video about how to manage your money as a married couple!! Thank you! Fabulous video!
Made them! The two are how to successfully combine finances and the personal allowance system.
Marriage could be amazing until getting divorce. I’ve seen too many losing too much. Nobody has an amigable divorce. So the cost is extremely high. ATTORNEYS are expensive and nobody cares who’s the one who worked really hard to accumulate wealth and now you have to give up on 50% of your assets after working so hard for it. I wouldn’t wish anyone to have to start all over financially speaking.
Haha! So wise. I love it.
I'm happily married, but I met my wife the first day of college. If I were single today, I highly doubt I'd get married. When you make a certain amount of money as a man, you have a lot to lose. Pre-nuptial agreements are not ironclad, women tend to get full custody of the kids, and overall, divorce can be financially ruinous for men. The divorce rate speaks for itself.
In particular, men who are married have to earn more. Not only do they have to financially take care of yourself, you have to take care of your wife and your kids. Many men are expected to be a cash cow for a woman's desires. A single man can earn less and have more peace.
Why can’t the woman earn the money and take care of the family? I see your point of view. I just think a lot of women need to step up and work to contribute as well.
Personally I’ve seen a lot more people that don’t seem to be seeking committed relationships as much. I’ve seen a lot more people my age (I’m in my 20s) that are having kids and living together and just not getting married. I don’t fully understand it either, but part of me wonders if young people aren’t seeking marriage because they view it as too traditional or conservative. I think it’s also possible that some people are scared, like afraid of losing their assets or they don’t like the idea of being tied down to another person. Not entirely sure either. Another great video Annie! Love your perspective!
You're right... so many people in their 20s just want to have kids and live together without getting married. Don't get it.
The funny thing is the people who are “scared” don’t even have assets to lose lol most people our age (20s) are in debt and have horrible spending habits.
In my opinion, if someone isn’t worth the investment of marriage, you shouldn’t live together. I’ve done it and got burned badly!
With regards to that study and the book. We don’t know if those people got richer because they got married, or if they got married because they were getting richer (good jobs).
My fiance is frugal and financially independent. I am working to become financially independent.
I do agree that a happy or a good marriage is always a plus, financially and other benefits. Those who are able to hold together a healthy marriage are very lucky. Sadly it is only 50% of society. But the laws and courts are a huge reason that many people are afraid to get married. There is so much more to the breaking down of families, and marriage, than meets the eye. It is evident now that the breaking down of the family life has not benefited us as a society as much as some people were led to believe that it would. But all that can change if the younger generation would move towards creating a healthier marriages.
This video really made me see financial aspects of marriage I’d never appreciated before! It really changed my perspective. I had been viewing marriage as a massive risk but now I see that I have a lot to gain! Hope you keep making content like this!
Thank you. I am happy to have touched you. It always brings me joy when people are able to try on new perspectives.
No one is making me understand why I would get married instead of just living together. I'm not seeing any benefits that stands out and makes it a no brainer.
What? How can you not benefit from pooling assets? tf
@@2okaycolaPooling in a relationship goes like this. Whats mine is ours, and whats hers is hers. No thanks.
@@2okaycola You can pool assets without getting married. That's point. Almost everything worth talking about by preachers of marriage can be done without the marriage. Which is precisely why many younger people are doing so even when they can "afford" a marriage.
Pool assets? You don't need marriage to have a joint account with someone.
Oh la la a house? You don't need marriage to joint account with someone.
But but what if someone is sick? It's called "Power of attorney" document. You don't need to be married.
But surely inheritance. A "Last will and testament" is an even older document than a marriage license.
But the taxes? Not always true that you save money. Many people are actually paying a marriage penalty! They don't know it.
Hence, what specifically that matters needed a marriage license again?
Finally a woman with a perspective on this 👏🏽
Oh yeah? My friend texted me last week saying she couldn't find any youtube videos on the financial benefits of marriage and that everything is simply about the worst consequences of getting married
I am in an amazing marriage. Alot of my friends say they just can’t find the right person.
I think people think that if they get marry, they are bound to more responsibilities and less freedom. Marriage is a beautiful thing.
Tell this to 50% who get divorced :)
Good video. I wish men would watch this! I would get married if the guys I've been in relationships with would have wanted too! They don't seem to understand all these benefits that you mention. Housing costs especially. I think alot of them just like their freedom. Alot of couples ive know seem to 'accidentally' get pregnant before they get married. So seems like entrapment to me from the guys perspective anyway. What happened to marrying someone because you want to & not because they are pregnant or had your child!
haha maybe that explains why the baby comes first, then the house, then marriage
Amen, Katherine, too too many marriages start as such and the ideal is that one marries the other to grow together in all ways.
Thanks for the info.. I don't want to go into business with anyone. I view marriage as control that's why I won't get married. I've been single for 12 years and I plan on staying single. All of my friends are married and I love that for them. I just don't want it for myself.
The only thing useful and logical you said was the discounts you get and the examples. Plus the immigration benefits that most people can't take advantage of.
I hardly call the tax benefits a benefit and a combined income is just something you do. Health and mental benefits are also something you do and have nothing to do with a marriage. So what is it? Like what benefits are there? All I know are money pits you dig yourself into for the average person.
The rest of the video was going on and on about it being beneficial because it's beneficial...
Double the net worth of a single person YEAR OVER YEAR
I have been married for45 years and We have a couple of friends the same situation as us and they are still not married. We have known them from high school. He is collage and the rest of are not. He always had a good job the other 3 of us not so much. We never get any information on why the chose this lifestyle. White bread Midwest in Wisconsin of German heart age.
I’m financially independent and make more than my boyfriend now, twice more. It wasn't like that before. In the beginning, I really wanted to get married. Now, I don't see how it could benefit ME. I don't think I even want kids, because I don't care to have any. Honestly, if we get married and later end up divorcing, I think I would be f*cked more financially. It’s just Not worth it now.
Make sure he is the right guy and aligns with your values and is compatible. I make exponentially more than my husband. Our relationship is not about money. We support each other in all our endeavors and that was what was important to me, not the fact of who makes more, who makes less, and who benefits who depending on who makes more/less.
Well I do save quite a bit but I spend way too much money on supplements of the alternative is not good if I don't. But I'm really lucky to have good parents for sure
The only thing I found incorrect was “money is the #1 cause of divorce” the real #1 cause of divorce is MARRIAGE.
2:48 For a very long time. Not forever or until death huh? 😂😂😂
In Canada, couple lose money if they marry.
The capital gain on primary residence is tax free. All increase in value is yours, Canada Revenue Agency does not take a dime.
So, 2 individuals can have the capital gain from 2 houses if they are not legally married.
But If they are married, the CRA will say, wait a minute which one is the primary residence? You are tax free only on the primary residence.
in the last 20 years the home prices increased by 400% so, we are talking about huge gains here.
What if the 2 individuals sell their houses and buy a bigger one?
It might work from taxation perspective but guess what? Expensive houses do not increase in value that much.
If it makes sense in your situation, then OK. Make the decisions that make sense for your given financial situation.
For me, it's mainly not to give my parents the early satisfaction 😂 My parents are still very traditional, believe women should be married around age 25, and all the other conservative Asian thoughts about women's role in marriage and society. I'm also not in a rush to start hearing about when the grandchildren are coming along - and being unmarried means they can't broach that subject yet 😀
Your parents gave you the satisfaction of life. Marriage isn't just about you it's about you, your spouse and your families legacies. Don't hold back to spite your parents. You're not promised tomorrow. We are very hedonistic and selfish nowadays, so I get it. Just remember, it's bigger than you. Bringing life to term with someone you truly love and share values with is a beautiful thing.
@@maurice2014very well put man , never thought of it that way. especially the part where everybody wins. I get to marry the girl I love and my parents get the chance to witness it.
I agree with you, Annie. A good marriage is great for financial, mental, and physical health.
And you can still have those things without being married. Some married people don't have any of those things.
It is better to marry than to burn with passion. Espousal is the research project. It never takes fourty years to complete a three day journey.
I know my partner and I were very cautious about getting married because both of our parents got divorced and on my end my parents had one that ended with me having no college fund. If you are financially focused and want to build wealth then getting married sooner is smart. But getting divorced sucks and there is a lot of divorce in America. I understand why many young couples want to be independent and not jump into it right away if they aren't as financially focused and are more lifestyle focused. I got married recently and I don't think there is enough readily information about the benefits (but so much information about weddings) so that's why I'm watching your video!
Haha you are so right! Everything financial you find online is about the wedding. No one thinks about after the wedding.
Im a 27M my question is why take on a big upfront expense (wedding) and risk of divorce when i could just have a long term girlfriend. Both could fail, and while there are some benefits like a tax break just seems like the risk reward tradeoff sucks
Why have a big wedding? My husband got married at city hall for $125 in 2016 and had dinner with immediate family only at some Italian restaurant in Manhattan. Marriage and wedding are not the same thing.
We threw the wedding party/celebration three years later in Indonesia--whole different story. There, you pay for the wedding but all the guests give you money, so the financial gifts pay off the wedding.
@@AnnieMargaritaYang in my experience and sure this may be anecdotal but it's hard to find a woman who's down to get married at city hall or do something that small. But yeah if I could do that id be more open to marriage
Fear
I still don't see the benefits of getting marriage.... ill continue doing research but my single GF gets great tax benefits because of her low wage vs the benefits we would get with our total salary...
lol my husband likes wasting lots of money on things I don’t agree on 😒 HELP
Once you have children, the tax penalty of marriage is quite significant.
Everything is about money. Money, money, money! What a world.
Relationship is between her and I. Family, church, or state have no business in our lives.
Casual dating is the norm ppl do not want nothing to do with hypocritical religions tat don't show marriage 😁 😊 happy
I heard long ago that personal finances are harder to negotiate than sex. I find that so many find casual relating without commitment preferable to a deep personal dive of intimacy including money. It's an unfortunate trend worth noting in honest detail. A corollary is that it's easier to do things that society dictates (i.e. kid) vs find taboo (i.e. personal finances).
As for me, personally, I desire personal improvement thus am much more suited to marriage.
You speak of wanting to know why people are not getting married? It is because laws within the state permit many Women to choose to divorce because they are unhappy in pursuit of financial, gain and to look for someone else. In many cases Women will regret the choice later, but at the moment Women know they can get alimony if being married and not working very much for so many years within the marriage. Women if they have children can collect child support as well as the Woman is usually favored in family court.
The Problem I am noticing is that states make it easy to offer Women financial gain to leave her spouse to be supported by the government instead. This ruins the idea of marriage and families as a whole.
Why choose to get married if they know there is a chance that his wife may one day be unhappy and want to leave him and take his money, the house, etc. It's a nightmare. He may feel and see that his wife could use it over his head and treat him poorly because she knows she can.
This happens often. Women have standards that mostly involve financial gain and status, but not so much on commitment and love. It's hard to find that these days.
The Bible says that a Man that finds a Wife finds a good thing, but a Wife is rare these days.
Personal choice. Everytime a man comments on this video, they always bring up the same points you bring up. Yes your points are valid. So find a good, frugal, loving wife and learn marriage skills. Marriage is a skill and most people never learn the skills.
Get married poeple its a nice ceremony just leave the government outside your papers. Simple
You really shouldn’t try peer pressure people into marriage it’s wrong you can talk to them about the pros and cons but don’t push marriage in people face
But why? There are already plenty of videos on RUclips about the cons of marriage. Shouldn’t there be multiple viewpoints? I am not peer pressuring anybody. I am discussing the other side.
@@AnnieMargaritaYang because in America, 50% of marriages, ending in divorce most because of money problems men have to pay child support spousal support. Sometimes they lose half their retirement 401(k) even the house that the man might’ve paid for before the marriage so you could be peer pressuring somebody to make the biggest mistake of their life if they chose the wrong person which many people do getting married in America is like playing Russian roulette
As long as you work as a team with your finances you will be successful in life and marriage but sadly that is only about 50% percent of the American population who can do that... I feel positive that won't be you folks..
With all the free handouts, some folks are better off remaining single especially if they have kids or medical issues. There is no longer a stigma for " living in sin."
That makes so much sense! I never thought of it that way. Low income earners with no college education are less likely to get married but the articles I kept reading never made the connection to welfare benefits. I always operated under the thinking I would rather combine our income and make more and pay more taxes to increase the options of how I want to live life.
Poverty can play a factor. Many women only get housing assistance because they are single with kids. The boyfriend cannot live with them according the contracts.
Men are afraid that their wives will take everything away if a divorce happens. Divorces are quite common .
Also being married to one person for such a long time is also very hard when there are so many woman out there.
You are very attractive, but also scary lol
Because marriage doesn’t benefit the men , and the consequences of divorce massively favor women . Correct me if I’m wrong
Marriage does benefit men (happily married men tend to be healthier than their never married/divorced counterparts), but yes you're right on that divorce favors women.
Why don’t get married, because the court system rules in favor of women. Or the interest of the state. It would make since that a lady wouldn’t understand why not get married. No disrespect No offense.