It may seem counter-intuitive, but people who are single may have it easier when it comes to making major financial decisions and estate planning. Not having to consult a spouse can streamline the decision-making process. Once you have made up your mind about who you want to be your beneficiaries or your power of attorney, there is no arguing over it.
When it comes to retirement planning, however, more married couples are saving for their future. This shouldn’t be too surprising since it is easier to put away money in savings or for retirement when you have two incomes to draw from. Additionally, having an “accountability partner” participating in your savings plan serves as an incentive to stick to the plan. This is especially true when one spouse is a spender and the other spouse is a saver, because it helps the spender stay on track.
Whether you are single or married, it is important to plan for your future. Estate planning and retirement planning are essential to protecting yourself and your family. At The Curran Law Firm, we can provide you with assistance in both these vitally important areas, so contact us today to schedule an appointment.
