Despite her outward markers of financial success — homeownership, a $120K salary and consistent retirement contributions — 33-year-old Erin finds herself at a pivotal moment in her financial journey.
Her boyfriend wants to get married, but he earns far less, supports two kids via child support and has nothing saved for retirement.
As a result, Erin wrestles with whether marriage was a smart idea and could offer her any financial upside.
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The financial risks
Erin has built solid foundations — homeownership, retirement contributions and stable income. But marrying someone with little financial cushion introduces real vulnerability.
If things go south and result in divorce or financial hardship, her assets may be split, or she may face support obligations depending on state laws.
If you’re in a similar situation to Erin, keep in mind that asset division in marriages without legal protection is governed by state law, which may not reflect each spouse’s contributions or intentions.
A prenuptial agreement can help. It encourages transparency and communication about financial realities, which protects both you and your partner emotionally and legally, letting you each define ownership of premarital assets (like your home, and savings and retirement accounts), while setting rules for assets accrued during marriage.
In Erin’s case, her home and 401(k) would be designated as solely hers, and she could decide how much of her future income would be shared. This helps avoid uncertainty if the relationship ends.
While there’s some stigma behind prenups, know that they don’t need to be seen as unromantic. Couples use prenups to start marriage on a foundation of honesty and mutual understanding, not assumptions. One survey found about 20% of U.S. couples had signed one.
Beyond a prenup, consider consulting a certified financial planner (CFP) to structure asset protection strategies, such as keeping certain accounts separate, insuring significant property or using trusts for future gifts or estate planning.
As with Erin, if children are involved in your case, seek advice from a family law attorney on how child support obligations or income disparity may affect marital finances.
You also may decide to keep things simple and totally separate your assets and liabilities. Maintaining separate bank accounts and ensuring any large purchases or debts aren’t co-signed unless absolutely necessary is an option.
Or, in situations with large income disparities, it can be wise to build a hybrid financial model: A joint account for shared expenses and individual accounts to maintain independence.
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Are there financial benefits to saying ‘I do’?
The good news is, along with risk comes opportunity, as there are several financial benefits to tying the knot.
For many couples, filing taxes jointly can reduce total liabilities by putting income into a lower tax bracket, especially when one partner makes significantly more. Marriage also increases the standard deduction for 2025: $30,000 versus $15,000 for singles.
So, by getting married, you could enjoy paying less taxes. Plus, your partner’s lower income may qualify you for a lower bracket, resulting in both of you paying even less tax overall.
On the benefits side, your lower-earning spouse could be eligible for Social Security spousal benefits. As the higher earner, this is up to 50% of your benefit at full retirement age (along with survivor benefits if you die first).
Collectively, as a high-earning couple, you could also benefit from estate tax advantages, including unlimited transfers to each other without tax consequences.
In addition, if one of you has more affordable or better-quality employer-sponsored health insurance, the other can be added to the plan, which can significantly reduce your joint total healthcare expenses.
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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
