More seniors seem to be getting married and more seniors seem to be living together.
These somewhat contradictory facts still suggest that love is in the air for seniors.
A 2024 report from Bowling Green State University's National Center for Family and Marriage Research (NCFMR) indicates that among adults aged 65 and older, the proportion who were married increased slightly from 54.3 percent in 1990 to 57.4 percent in 2022.
According to a 2017 Pew Research Center analysis of U.S. Census Bureau data, the number of cohabiting adults ages 50 and older in the U.S. grew by 75 percent from 2007 to 2016, rising from 2.3 million to 4 million.
If you find Mr. or Mrs Right as a senior, you'll have unique considerations.
On the financial front, remarriage can affect Social Security benefits. If you receive survivor benefits from a deceased spouse, marrying again typically ends those payments. However, you might claim benefits based on your new spouse's record, if higher.
Some pension plans or retirement benefits (e.g., from a prior spouse or employer) may be reduced or lost upon remarriage. Check plan rules.
Marriage affects inheritance. Without a prenup, your new spouse may have legal rights to your assets, potentially complicating plans for children from prior relationships. Wills, trusts, and beneficiary designations need updating.
