"I'm a 23-year-old graduate student. My significant other is 28; we met in school and have been together for two and a half years. We make excellent life partners, have supported each other through good times and bad, and feel aligned on the key issues. We both come from poor backgrounds and have at times struggled with money. After a rough career pivot, where my significant other almost hit rock bottom, they landed an extremely lucrative and stable job in finance. They're now making more than 15 times what I make! (Yes, literally.)"
"They did the math and realized that if we were married, we'd save around $12,000 in taxes this year and up to $25,000 yearly after that. This is a serious relationship; we've talked about marriage in the future. But the future was never meant to be before I left school or turned 25! If we get married, we'd prefer to just go to the courthouse for paperwork and act like we're still dating; not throw our tax refund to the wind and host a giant wedding. But even if we agree to keep our relationship the same emotionally, I don't know what would change for me legally. What else should I be considering?"
A 23-year-old graduate student is in a serious relationship with a 28-year-old partner whose finance career now pays more than fifteen times the student's income. The couple calculated that marriage could save roughly $12,000 in taxes this year and up to $25,000 annually thereafter. They prefer a low-key courthouse marriage to retain their current relationship dynamic and avoid a big wedding. The student is unsure about the legal changes marriage would bring. The advisor warns against marrying solely for tax benefits because divorce costs and income variability can undo apparent financial gains.
Read at Slate Magazine
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