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Big Picture Retirement®

#030: Second Marriages and Blended Finances

Big Picture Retirement®

Devin Carroll

News, Business News, Investing, Business

4.7546 Ratings

🗓️ 24 July 2017

⏱️ 23 minutes

🧾️ Download transcript

Summary

So you find yourself retiring in a second marriage? This week's episode is full of useful information and fascinating stories about one of the most complicated family situations: Second marriages.

There is so much to consider: Social Security benefits, pensions, other benefits, children, houses, long-term care insurance, and much more.

Steps you need to take before you have a second, or subsequent, marriage:

  • Take a good look at the person you are marrying, including their financial situation.
  • Consider your current situation, including any benefits that come from your previous marriage.
  • Meet with an experienced, knowledgeable estate planner to explore all of the possibilities.

Highlights include:

  • How community property states are different.
  • Why a prenuptial agreement is a good idea, especially for second and later marriages.
  • The most overlooked aspect of financial planning for second marriages.  You don't want to miss this!

You won't want to miss a minute of the conversation about this oh-so-important topic.

Do you have a question for Devin and John?  Send them to questions@bigpictureretirement.net.

Transcript

Click on a timestamp to play from that location

0:00.0

The Big Picture Retirement Show does not provide specific tax, legal, or financial advice.

0:05.1

Listeners are encouraged to seek out their own advisors in these areas.

0:08.1

She take my money.

0:10.8

Well, I'm in need.

0:13.2

Yes, she's a trifling friend indeed.

0:17.5

Oh, she's a gold digger.

0:19.9

Well, a time

0:20.9

That digs on me

0:23.1

Um

0:24.1

I'm in saying she's a gold digger

0:27.3

But she ain't

0:28.6

Welcome to the big picture

0:31.5

Retirement Show everybody

0:32.9

I'm your host

0:33.8

John Ross here in the studio

0:35.9

With Devin Carroll.

0:38.1

Hey.

0:38.9

And today, we're varying off of our normal topic a little bit.

0:43.8

We're going to be talking about second marriages.

0:47.1

Oh, yeah.

0:48.0

Something that I've had the experience just recently in my family.

0:53.0

Second marriage.

...

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