Tag Archives: Marriage

Marriage—a life-extender?

When you’re married, you’re more likely to have someone looking out for you and reinforcing healthy behaviors. (Courtesy Spectrum Health Beat)

By Dennis Thompson, HealthDay


Married folks not only live longer than singles, but the longevity gap between the two groups is growing, U.S. government health statisticians report.


The age-adjusted death rate for the married declined by 7% between 2010 and 2017, according to a new study from the National Center for Health Statistics, part of the U.S. Centers for Disease Control and Prevention.


“Not only is the rate for married lower, but it’s declining more than any other group,” said lead author Sally Curtin, an NCHS statistician.


Statistically, death rate is the annual number of deaths for every 100,000 people. It’s adjusted so that a 26-year-old and an 80-year-old married or widowed or divorced are on equal footing.


The new study reported that the death rate for never-marrieds declined only 2%, while that for divorced people hasn’t changed at all.


Worst off were the widowed, for whom the death rate rose 6%. They have the highest death rate of all the categories, researchers said.


Married men in 2017 had an age-adjusted death rate of 943 per 100,000, compared to 2,239 for widowers.


The death rate was 1,735 per 100,000 for lifelong bachelors and 1,773 for divorced men.


Married women had a death rate of 569 per 100,000, two-and-a-half times lower than the 1,482 rate for widows. The death rate was 1,096 for divorcees and 1,166 for never-married women.


Part of the marriage benefit could be explained by the fact that people in good health are more likely to marry, said Katherine Ornstein, an associate professor of geriatrics and palliative medicine at the Icahn School of Medicine at Mount Sinai in New York City.


Once you’re in a marriage, there are a host of tangible and intangible benefits that give you a health advantage, experts said.


Married people are more likely to have health insurance, Ornstein said, and therefore, have better access to health care.


Being married also means you have someone looking out for you and reinforcing healthy behaviors, said Michael Rendall, director of the Maryland Population Research Center at the University of Maryland.


“Having somebody there who’s your spouse will tend to promote positive health behaviors—going to the doctor, eating better, getting screened,” he said.


This is particularly true of men, who previous studies have shown derive more health benefits from marriage than women.


“Men tend to have fewer skills than women in terms of looking after themselves,” Rendall said.


Finally, the companionship of marriage staves off health problems associated with loneliness and isolation, Ornstein said.


“Social support and the social engagement that comes with being married is a huge benefit for mental health and physical health,” she said.


All these benefits also explain why widowed people tend to do so badly after the death of their spouse, Ornstein said.


Widows and widowers have to deal with heartache, loneliness and financial stress, she said. They no longer have a partner looking after them, so they are more likely to neglect their health.


The study found some gender differences in trends.


While the death rate for married men and women declined by the same 7%, women’s overall death rate was much lower.


But the death rates among men in all other marital categories remained essentially the same between 2010 and 2017, researchers found.


On the other hand, the death rate for widowed women rose 5%, while the rate for never-married women declined by 3% and remained stable for divorced women.


Reprinted with permission from Spectrum Health Beat.






Getting Married? 8 Tips for Newlyweds on Combining Finances

By Brenda Long, Michigan State University Extension

 

Getting married? 83 percent of couples fight about money, according to Debt Reduction Services. Making household finances work is one way newlyweds can help make their marriage work.  Both should agree on how to coordinate household accounts and debt by having constructive conversations. Even though this is not the most romantic topic, it will contribute to a happier marriage.

 

Once the honeymoon is over, focus some attention on your shared financial lives. The Building MI Financial Future Financial Toolkit from the Michigan Department of Insurance and Financial Services offers these tips:

  • Request a free copy of your credit reports at annualcreditreport.com. This information tells you about your use, management and payment history of loans and financial obligations. You might also get credit score estimates from FICO. Then you can objectively analyze the strengths and any weaknesses in the reports, including high debt amounts or discipline about making timely payments.
  • List all sources of income and expenses. Using all pay stubs, account statements, monthly bills and debt obligations, disclose everything financial to each other. Then you can make a monthly spending plan for handling monthly expenses and establish a debt prevention and/or elimination plan.
  • Open a joint checking account to pay for household expenses. Pay for all marriage-related bills, including housing, food, necessary clothing, vacation, transportation, cell phones, etc. If neither of you had credit-related problems, both names can be on the account. If one person has poor credit, you may choose to have your account in only one name. Consider automating your household bills payments, plus setting up separate accounts for each of your savings goals.
  • Decide who is going to pay for what.
    • Option 1: Combine incomes and consider all expenses and debts as one.
    • Option 2: Assign certain payments to one or the other. This might depend on who had loan obligations prior to the marriage.
    • Option 3: Pay ongoing expenses based on the percentage of income contributed.
  • Discuss the relationship each of you has with money. Is one of you a saver and one a spender? Talk about the potential consequences and agree on a workable solution.
  • Consider opening a savings account for an “emergency or rainy day fund”. Unplanned emergencies happen.  As a couple, you should have a goal about how much is enough for unexpected expenses or emergencies. In addition, the recommendation is to set aside several months of earned income to prepare for an unplanned loss of future income. Decide together on a monthly amount to save which fits into your budget and is sustainable.
    • Tip: While many couples choose to pursue a joint checking account, this method may not work for all couples. Whether you have a joint account or separate accounts to pay household expenses, the key is to communicate, have a bill payment plan, and pay bills on time.
  • Update your beneficiaries. Check any employer-sponsored retirement plan, IRAs, annuities, and life insurance policies to update the beneficiary information.
  • Take care of your future selves now. Contribute to your employer-sponsored retirement plan and/or IRA. The recommendation is 15 percent of your combined gross pay or the maximum amount allowed by the IRS. This is a great time to talk about your retirement goals that will require financial planning and strategies.  Further, decide on a homeownership plan including thinking about if, where and when to buy a home and its cost. Discuss any education and professional training plans.

The first year of marriage typically includes many lifestyle adjustments. Setting goals and planning to save are best practices to help make your financial hopes and dreams come true. Having a spending plan shows your sense of control and willingness to set aside now for the future.  Discussing and agreeing on financial adjustments should make your financial lives go smoother. Financial planning takes time, patience, and discipline.  Find more information about spending plans, reasons for and ways to save, credit and debt, homeownership, and many other topics at MIMoneyHealth.org.

 

This article was published by Michigan State University Extension. For more information, visit http://www.msue.msu.edu. To have a digest of information delivered straight to your email inbox, visit http://bit.ly/MSUENews. To contact an expert in your area, visit http://expert.msue.msu.edu, or call 888-MSUE4MI (888-678-3464).