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My boyfriend of 5 years finally got a job after being unemployed for 7 months BUT:
1. His friend hired him for his small co
2. His friend is almost 66 yrs old
3. Bf is 65 and started to collect social security about $2200 per month before tax
4. Job doesn’t pay much ($30,000 before tax etc)
5. Bf has only modest savings including for retirement ($25,000). He never saved this money it was given to him. Don’t think he’ll earn enough to add any money into retirement.
6. I’ve worked my whole life and saved a good amount for retirement which I’d like to enjoy by some travel, etc. I’m 60.
I’ve dated others but we always get back together. He’s a great guy and we love each other but he wants to marry me and I’m scared our finances are too different at this point in our lives.
What do I do? if I stay with him don’t I take a huge chance of supporting him at some point either because his job doesn’t work out and or he has almost no money saved for retirement? Any advice?
Last edited by What a mess 1623; 01-13-2018 at 06:34 AM..
How would getting married change your relationship? If you want to live together, go ahead. But people your age usually do not marry and keep their finances separate for the reasons you state.
It's only not enough money to live on, if he can't live within his means. Since you didn't say he's expecting you to support him, maybe he'll do just fine as far as he's concerned.
I agree with zentropa, there's no need to get married.
If I were in that situation, marriage would be the farthest option in mind. Done building family. Done with children. Looking for a companion is really only it. You can do that without marriage or combining finances.
I've got a few years until retirement age ahead of me and did the marriage and kids thing. I don't think I would marry again.
I am a little confused with something about your post.
He is about to collect ss of $2200 per month and works making $30000 per year? Did not know ss will allow you to make so much money while collecting retirement benefits.
As for the rest, I can understand why you would be skeptical about the disparity of assets. You don't need to be married at your stage in life. It's not like you are trying to form family.he should understand it.
Let's realize if it were the man in your situation, it would be different. When couples move in together, share the bills, usually means someone has to put in more than the other, likely the one with better finances.
Do what you have to do in life to get by. At this age, there should be nothing worth on fighting over for, instead, live everyday to the fullest because tomorrow is not guaranteed.
$2200 a month ss should be enough for him to live on, but it will probably be taxable, if he is earning more money. Why would you want to get married anyhow?, keep being friends but you do not have to co mingle finances.
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