Tuesday, August 17, 2010

If you "merge," what about all the houses?

Ellen James Martin, Universal Syndicate, wrote recently about how to smash two households together when you marry, especially later in life.

People remarry--or in this economy, must move in with a relative or friend.

Sell one house or the other—or both and get a new one? (Who can even sell in these upsidedown days?)

The biggest thing here is the emotional factor. Is one moving into the other’s territory? What about memories?

The advice is to discuss thoroughly. Often, people who marry later in life. much less people crushed by the economy, have been on their own, making their own decisions. Discussing may not come easily.

In every couple, said one expert, there seems to be one money-oriented person and one non-money-oriented person.

If there is a deadlock, you can consult a financial advisor.

Be open to changing neighborhoods if you decide to move. The schools are probably not an issue. Maybe you are sick of the burbs and want a downtown life. Write out your idea day, month, year—see how each compares.

You may need more money in retirement, not less. Factor that in.

I would say—get rid of one blender. See how that goes.

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