Getting married in my 50’s

[Regularbutnewname50]

I have a fairly low amount left on my
mortgage with around 50% equity due to paying a large deposit for the house.

Pension forecast is not brilliant, but it’s a local government pension so will continue to grow over the next 10 years. Also have a deferred NHS pension.

Partner and I have been discussing marriage. He is in similar position financially to me.

Part of me thinks life is for living, part of me is cautious about what if things go wrong between us.

I’d appreciate any perspectives please.

Yes it sounds like you're in a really good position for yourself.

I'm in a similar position in some ways as I would love to marry my partner but I'm too scared to tie up my financial future when I'm just getting everything under control myself.

One thing that is quite helpful is listening to the Ramit Sethi podcast- it is just couples talking about the money issues between them in their relationship.

It's quite reassuring to hear that almost every couple will have issues/discrepancies no matter their situation.

The other useful thing is I've just started working towards financial independence and I'm tracking my net worth every month- so I have a clear picture in my head what I'm working towards- rather than bumbling around into the future. I'm planning to talk it all through with my partner too. So that might be a good place for you to start?

The other question is how long have you been together? Do you live together? And in your mind what is the benefit of marriage as opposed to just being partners for life?

Do you have children ?
If yes, then don't marry, so you can leave your assets to your kids

Does he also have a house ? As you effectively give him 50% of yours the moment you sign the Register on your wedding day

As a home owner, I shall never remarry as I have worked too hard for my mortgage free home

Do you have children ?
If yes, then don't marry, so you can leave your assets to your kids

OP can state in her will that her kids get the property, in the event of her passing away before her husband.

We aren't going to marry but are sorting out our wills otherwise our leavings will go elsewhere

@Blending123 thanks, I’ll have a listen to the podcast.
We’ve been together for 2 years. We still about have our houses and just live between them. We’re together every night.
The plan is for him to sell and move in with me. Then we will do my house up and when the time is right, maybe in a year or so, sell mine and look for somewhere to buy together.

We have similar equity so will be bringing equal amounts to the table.

Practically there is no difference to me to get married. But DP and I are very traditional, so on a romance note we both want to be married to each other!

@isthewashingdryyet yes, we both do. As @westisbest1982 has said, we will both change our wills to ensure our adult children benefit from our individual assets as well as the house when it is eventually sold.

@Doggymummar that’s wise, I’ll update my will when DP moves in with me to make sure I’m covered for that time.