What are the financial pros and cons of getting married PDF

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So, one beautiful day to everyone present, and with this introduction I would like to start today's Oxford debate. for today we have prepared for you a theme: You will be happier if you stay unmarried. Is that statement true or not that’s what we will find out at the end of our debate. My team is quite convinced that people are happier when they don't get married and our first reason is That… Everything during and after the marriage is very costly

So once again I wish everyone present a beautiful day and I would immediately start with the statement of our team, which has no doubt that people are happier when

they get married, on the statement we heard a while ago. the other team claims that… However, we must completely disagree with this statement,because although … really … yet this is only a half of the whole truth. …

Adding another point: also; as well as that; in addition; besides; furthermore; moreover Emphasizing a contrast: however; even so; in spite of this; nevertheless Balancing with an equal contrasting idea: in contrast; on the other hand Giving a result: therefore; as a result; for this reason; because of this; consequently Giving a cause: because of; as a result of; owing to; due to Listing points: first / firstly; first of all; to begin with; secondly; then; next; finally Talking generally: in general; on the whole; broadly speaking; in most / many cases; to a great extent Giving examples: for example; for instance; such as Expressing reality: in fact; as a matter of fact; actually; in reality; to tell the truth Emphasizing: above all; in particular; particularly; especially; mainly; mostly; principally; predominantly; specifically Comparison: in comparison with; compared to Similarity: similarly; likewise; in the same way Exception: apart from; except for Explaining: in other words; to put it another way; that is, e.g.; to put it simply Summarizing: basically; to sum up; in short; in summary Concluding: all in all; all things considered; on balance; in conclusion; taking all this into consideration

Qualified opinion: some people argue that; people often claim that; people tend to believe that; this may cause

A formal debate - home preparation worksheet Name: Petr Vobejda Topic: You will be happier if you stay unmarried Subquestion 1: What is the financial point of view regarding this topic? Con: Pro (against marriage):  A Greater Chance at Building  Weddings are expensive. And Wealth that´s a fact.  More Financial Accountability  Additional Money Stress  Better Qualification for a  Overall Higher Expenses, mortgage or a business loan subsequently Subquestion 2: Is it emotionally more supportive to stay unmarried? Con: Pro:  Increased Level of Security  You´d limit your level of  Supporting each other in freedom. Difficult Situations  Daily routine may eat up.  Protection from Being Lonely  With certain relationship the attraction may wear off over time. Subquestion 3: How about the stability of the relationship after the marriage? Pro:  High Divorce Rates  Naivity regarding the Concept of Marriage  You may get trapped in an unhappy marriage.

Con:  May contribute to a stable family.  More Socially Accepted until recently  Necessary in Many Cultures

Useful language: a dowry economic implication to accumulate assets a mortgage to put in jeopardy smth. the commitment of getting married a top predictor of divorce annual survey a spouse business loan to overcome events

upside to get back on track in order to avoid smth. to maintain a stable and intact family problems associated with smth. to make compromises to fit somebody´s preferences to feel prohibited from smth. to lose all affection for smth. to have the flawed belief divorce rates

Sources: The Financial Pros and Cons of Marriage. HerMoney: Personal Finance Advice for Women by Jean Chatzky. [online]. Copyright © 2021 HerMoney Media, Inc. [cit. 05.05.2021]. Dostupné z: ht t ps : / / her money . c om/ c onnec t / mar r i age/ financ i al pr os andcons of mar r i age/ 32I mpor t antPr os&ConsOfMar r i age–E&C.Env i r onment al Cons ci ence– E&C.[ onl i ne] .Copy r i ght© 2020 [cit. 05.05.2021]. Dostupné z: ht t ps : / / env i r onment al c ons c i ence. c om/ mar r i agepr os c ons/ ThePr osandConsofModer nMar r i age.War r i ngt onWor l dwi de.[ onl i ne] . Copy r i ght© 2019 Warrington News from the daily online newspaper for t ps : / / www. war r i ngt onWarrington. [cit. 05.05.2021]. Dostupné z: ht wor l dwi de. co. uk / 2020/ 01/ 16/ t hepr os andcons of moder nmar r i age/

Signifficantly higher happiness rates, lower suicide attempts Better health in marriage

the numbers you mentioned are admirable, but we still expected a little feedback to our statements.

In any case, we must point out that the question remains whether marriage really affects our health, because we believe people take care of their lives regardless of their partner and moreover, the numbers you mentioned are admirable, On the contrary, it is scientifically proven that after a while in marriage, people tend to be lazy and, on the contrary, do not take care of themselves. What are the financial pros and cons of getting married? Find out. Marriage used to be merely an economic exchange. A bride was “given away” by her family along with some sort of dowry. Or a groom’s family would “buy” a bride from her folks with the hopes that she’d produce children and take on common housewifery tasks. If a deep and loving connection ensued, well, that was just a bonus. Thankfully, marriage has evolved to be a consensual union of two individuals who are firstly in love. But to pretend that marriage no longer has economic implications is a falsehood. There are several financial pros and cons compared to living the single life or as romantic roommates. Consider the following. Weighing Your Options 1. 2. 3.

Pro: A Greater Chance at Building Wealth Con: The Wedding Could Set You Back Pro: More Financial Accountability

4. 5. 6. 7. 8.

Con: Additional Money Stress Con: You May Face a Bigger Tax Burden Pro: Unemployed? You Can Still Have an IRA Pro: You Can Piggyback on Benefits Pro: The Law May Protect You if Your Spouse Dies

PRO: A GREA GREATER TER CHANCE AATT BUILDING WEAL WEALTH TH “The biggest advantage after saying ‘I do’ is that your earnings typically go up and your expenses go down,” says Stacy Francis, founder and CEO of Francis Financial, a wealth management boutique in New York. “This leads to married couples accumulating more assets than their nonmarried counterparts.” This, of course, assumes that there are two incomes to join. If that’s your situation, then you may benefit from a “more beefed up balance sheet,” says Francis. This can help couples better qualify for a mortgage or a business loan than if they apply as individuals. At least one study has shown that marriage has a more positive impact on wealth creation than staying single. Researchers at Ohio State University found that married folks experience individual net worth increases of 77 percent over singletons in their 20s, 30s, and early 40s. Married couples also see their wealth jump 16 percent for each year of marriage.

CON: THE WEDDING COULD SE SETT YOU BACK While you certainly don’t need a big fancy wedding to tie the knot, the cost of the reception, gowns, tuxes, flowers, honeymoon and everything in between are, combined, one big reason couples may choose to put marriage on the back burner. Getting married at city hall isn’t for everyone, and some still want to save up to afford the wedding of their dreams. Given recent figures, it could take a while. Wedding website The Knot completed its annual survey and found that the average wedding in the U.S. costs more than $32,000. (Which is also a down payment on a nice home. Just sayin’.)

PRO: MORE FINANCIAL ACCOUNT ACCOUNTABILIT ABILIT ABILITYY When you become two, you may feel more pressure to get your personal financial act together. “It’s one thing to ignore your finances when you are the only one being hurt — it’s a whole other thing to be putting in jeopardy the financial future

of the one you love most,” says Manisha Thakor, director of wealth strategies for women at Buckingham & The BAM Alliance. This is a great thing, as the union often encourages more consciousness of how you’re spending and saving. “The very commitment of getting married often creates a mindset of wanting to care for and protect the other person, which in turn can catapult financial well-being to a front-burner topic,” adds Thakor.

CON: ADDITIONAL MON MONEY EY STRESS What’s also true, unfortunately, is that money is one of the leading causes of fighting in a marriage, and a top predictor of divorce. That’s partly because we tend to marry our financial opposites, according to at least one academic study; as a result, financial planning can become a bigger source of stress in matrimony. “Problems are likely to arise when realistic spending boundaries are not set,” says Francis. “One person is a spender and another is a saver. One spouse has an awful credit score and the other has worked for years to keep theirs over 800. These are all difference that can create marital woes.”

CON: YOU MA MAYY FFACE ACE A BIGGER TTA AX BURDEN This story wouldn’t be complete without discussing the infamous “marriage penalty.” It’s that higher tax bill that sometimes arrives when dual-income married couples file jointly with the IRS, as opposed to filing as two separate individuals. The pooled incomes tend to bump up couples to a higher tax bracket, which sometimes makes them subject to paying more to Uncle Sam, says Ebong Eka, a certified public accountant in the Washington, D.C. area.

Pro: …Or Not In other cases, being married can yield a tax “bonus,” where couples pay fewer taxes as a result of their wedded status. This is particularly true for couples with one working spouse and one stay-at-home spouse. According to TurboTax’s website, “The more unequal two spouses’ incomes, the more likely that combining them on a joint return will pull some of the higher-earner’s income into a lower bracket. That’s when the marriage bonus occurs.”

PRO: UNEMPL UNEMPLOYED? OYED? YOU CAN STILL HA HAVE VE AN IRA To invest in an individual retirement account or IRA you typically need to have earned income. There is an exception, however, for married people. A spousal IRA is designed to let a working spouse make contributions on behalf of a nonworking

husband or wife. So if you choose to be a stay-at-home parent during your marriage or you lose your job, you can still stay active with retirement savings.

PRO: YOU CAN PIGGYBACK ON BEN BENEFITS EFITS If you don’t have access to a group health insurance plan, you may be able to take advantage of a spouse’s employer-sponsored health care. Many of these group plans allow spouses to be added to the policy and receive equal access to health care benefits. There may be an additional fee for adding a spouse, but it’s often cheaper than buying an individual policy directly from the marketplace. Additionally, as a legally married individual, you may qualify for spousal Social Security benefits. You may claim benefits once your spouse has filed for his or her own benefits and is at least 62 years old, according to Jon Robertson, a certified financial planner with Abacus Planning Group in Columbia, S.C. Spousal benefits are generally 50 percent of the full Social Security benefit if the spouse files at his or her “full retirement age” (generally 66 or 67, depending on when you were born). “You are eligible for spousal benefits even if you have never worked,” says Robertson. “This can be a huge win for a spouse who had a low income or who did not pay enough into Social Security to be eligible based on his or her own earnings.”

PRO: THE LLAW AW MA MAYY PROTECT YOU IF YOUR SPOUSE D DIES IES Estate planning is important in every marriage, but if your spouse suddenly passes away without a will, as the surviving spouse your state’s intestacy laws may still allow you to claim certain assets that, say, were solely owned by your spouse. “Our society has some built-in protections for married couples,” says Robertson. “If you aren’t married, the rules of intestacy will not apply and you will inherit no money unless your partner has a will directing assets to you.” Farnoosh Torabi is the host of the award-winning daily podcast So Money. Want to learn from some of the world’s most successful women? Subscribe to the #HerMoneyPodcast so you don’t miss a beat!

Pros and Cons of Marriage

Many people all over the world consider marriage to be one of the most important things in their lives. Yet, although marriage has some advantages, it also implies many serious problems. In this article, an objective view of all the pros and cons of marriage is given.

Advantages of Marriage 1. 2. 3. 4. 5. 6. 7. 8.

Increased level of security Socially accepted You can build wealth together You can support each other in difficult situations in life Necessary in many cultures You may be better able to sustain your relationship Tax advantage related to marriage in many countries Family connections may help your career

9. May contribute to a stable family 10. Important to be in line with religious concerns 11. Marriage may protect you from being lonely

Increased level of security One important advantage of marriage is that it provides partners with an increased level of security. For instance, if one partner dies unexpectedly, the other partner often has financial claims regarding the shared property and other things that they have built together. Moreover, marriage often also implies the obligation to pay alimony in case of divorce. Although this is quite bad for the party that has to pay, it will be quite beneficial for the party who receives the money.

Socially accepted Another reason why so many people marry is that it is a socially accepted construct. The concept of marriage has been invented thousands of years ago and it has been a valid social construct until now. Even though the purposes of marriages changed quite a bit over time, marriage is still considered to be the gold standard for long term relationships. Thus, plenty of social pressure is often built around couples in order to force them into marriage. Hence, many people actually get divorced due to social pressure and not to the fact that they actually wanted to do so.

You can build wealth together Another important upside of getting married is that you and your partner will be able to build wealth together. This can include financial assets, building a business together or also building a house. In many cases, people will not be able to financially afford to build or to buy a house on their own and they need a partner in order to accomplish this goal. Quite often, also banks are much more willing to give you a credit to buy a house if you are married. Therefore, marriage can be a great way to accomplish goals which you would not be able to accomplish alone.

You can support each other in difficult situations in life Your partner can also help you to overcome difficult situations in your life. Life is hard sometimes for all of us and if you have a strong partner who supports you in those times, chances are that you will be able to get back on track much sooner in a healthy manner. Especially if you are a rather emotionally unstable person, a strong partner may really help you to overcome difficult events in your life.

Necessary in many cultures In many countries all over the world, marriage is considered to be the standard approach towards long-term relationships and many families apply quite a lot of pressure on couples to get married. In some regions, you might even get socially isolated if you refuse to marry your partner and your family might even abandon you for that. Therefore, many people in those regions often marry just to please their family and also out of fear to suffer from social isolation if they refuse to do so. Hence, in many countries all over the world, people see marriage as a kind of cultural necessity.

You may be better able to sustain your relationship Some people also claim that it is easier to maintain a relationship once you are married. Many people feel that the barriers to exit that relationship are much higher for partners once they are married and therefore, if you want to stay together with your partner for a long period of time, you should get married at some point in time in order not to lose him or her. Yet, this is a quite controversial topic since many people are not too afraid to end a marriage and to leave a partner if someone better is waiting for them, especially in our Western world where people seem to be quite flexible regarding leaving a marriage and going for a better partner instead.

Tax advantage related to marriage in many countries Also from a financial standpoint, getting married can make sense. This also depends on where you live. In some countries, there are

tax advantages for married couples, which may result in lower income tax payments. Thus, if you plan to stay together for a longer period of time, it may also make sense to marry from a financial perspective in order to avoid paying a certain amount of taxes.

Family connections may help your career You may also be able to benefit from the connections of your spouse’s family. For instance, if you marry a partner whose family has good connections into the business world, chances are that you can also profit from those connections since it will be much easier for you to get a good job or to get leading roles in a company. Therefore, marriage can definitely help to accelerate your corporate career due to the additional connections you might have.

May contribute to a stable family Marriage may also help you to create and maintain a stable and intact family. If you want to have kids, marriage may be a good tool since your kids may be better treated by society than without marriage. This is especially true in countries where living together with a partner without marriage is considered to be dodgy and not acceptable. Therefore, if you live in one of those countries, you may also want to marry your partner so that your kids will not be bullied around in school or in other parts of their lives.

Important to be in line with religious concerns In many countries, it is also crucial to marry due to religious concerns. Some people are quite faithful and think that the bible or other holy books are the most important rules to comply with in order to be a good person. If the holy book says you have to marry, it is your task to comply with those demands without ever questioning them. Hence, if you grow up in a region where fundamentalists are quite common, chances are that you will be forced into marriage due to irrational religious claims and arguments.

Marriage may protect you from being lonely Some people also strongly fear the thought of being lonely without a partner. Therefore, they are often willing to marry a partner, even though they are not fully happy with their decision but they

still think that marrying this partner is better compared to staying alone. Thus, the fear to stay alone may make people weak and may force them to marry, even if they do not like their partner too much.

Disadvantages of Getting Married 1. 2. 3. 4. 5. 6. 7.

You limit your level of freedom No other partners allowed You might get trapped in an unhappy marriage Dependence on your partner Bad for one party in case of divorce Divorce may lead to financial obligations Attraction may suffer significantly over time

8. Divorce rates are quite high 9. Many people are quite naive regarding the concept of marriage 10. Divorce laws often favor women 11. You introduce the state into your life 12. You have to get along with the family of your spouse 13. Ind...