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1. Marriage Has Financial Benefits

Couples accumulate more wealth by combining households and reducing living expenses. Dale and I, however, had already combined our households. We didn’t need marriage to get this benefit. On the other hand:

  1. Marriage makes it easier to get family health, dental and other insurance benefits and more difficult to get insurance through the other’s employer.
  2. Marriage conveys benefits to survivors from retirement plans and Social Security that we wouldn’t otherwise have.
  3. Marriage makes it easier to inherit from each other. Most states give preferential treatment to surviving spouses in probating an estate.
  4. Marriage bestows tax benefits from the IRS, including gift and estate tax free transfers, bigger charitable deductions, greater ability to fund IRAs, and more.

One checkmark for Marriage.

2. Marriage Makes You Healthier And Improves Longevity 

Married people live longer, and are physically and mentally healthier than single people. Although a 2012 study suggests that those who cohabit get the same benefits, are happier AND have greater self-esteem than their married counterparts, a more recent study concluded that cohabitation does not provide the same benefits as marriage.

I was confused. I wanted to live healthier and longer so, to be safe, I put a check in the Marriage column. I also wanted to be happier and have more self-esteem so I also put a check in the Cohabitation column.