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The Financial Perks (and Downsides) of Marriage

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          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
Love may be blind, but marriage is a long-term investment strategy with variable returns and significant tax implications. Let's take a cold, calculating look at the institution that promises for richer or poorer—and find out which one you're more likely to experience.
The article from MSN discusses the financial implications of marriage, highlighting both the perks and downsides. On the positive side, marriage can lead to tax benefits such as the "marriage bonus" where couples might pay less in taxes when filing jointly, and there are also potential savings on health insurance, Social Security benefits, and estate planning. However, there are also financial downsides to consider: the "marriage penalty" where some couples might end up paying more in taxes, the potential for financial disagreements or mismanagement due to differing financial habits, and the complexity of asset division in case of divorce. Additionally, marriage can affect eligibility for certain government benefits, potentially reducing aid for low-income individuals. The article emphasizes the importance of understanding these financial aspects before tying the knot to make informed decisions about marriage.

Read the Full Lifehacker Article at:
[ https://www.msn.com/en-us/money/personalfinance/the-financial-perks-and-downsides-of-marriage/ar-AA1BeA6W ]