Marriage builds wealth more than being single?

[Martrae]

Jan 20, 1:55 PM (ET)
By Joanne Morrison

WASHINGTON (Reuters) - Staying married has its benefits, especially financial, as a new U.S.-wide study shows the wealth of a married person is almost double that of somebody who is single.

Divorce among U.S. baby boomers reduced personal wealth by about 77 percent compared to that of a single person, while the financial standing among those who remained married almost doubled, according to a nationwide study released this week.

"If you really want to increase your wealth, get married and stay married. On the other hand, divorce can devastate your wealth," said Jay Zagorsky, author of the study and a research scientist at Ohio Sate University's Center for Human Resource Research.

Married people will see an increase in wealth that is more than just adding the assets of two single people, according to the study that was published in the Journal of Sociology.

Those who remained together saw a 93 percent gain in wealth compared to that of a single person, while individuals facing divorce saw their financial situation deteriorate long before the decree became final, according to Zagorsky.

The study used data from surveys taken over a 15-year period involving 9,055 Americans who were between 21 and 28 years old in 1985.

Those respondents who remained single had a steady, but slow growth in wealth, from less than $2,000 at the start of the surveys up to an average of about $11,000 after 15 years.

However, those who married and stayed that way showed a sharp increase in wealth accumulation after marriage, growing to an average $43,000 by the 10th year of marriage or by about 16 percent a year.

For people who married and then divorced, there was a slow build-up of wealth during the early years of marriage and then a steady decline about four years prior to divorce.

"Many of these people may have separated before the divorce became official, which would help explain why wealth starts falling so early," Zagorsky said. "Divorce is often a long and messy process, and you can see this in the four-year decline in wealth."

The study also cast doubt on a common assumption that divorce is much harder financially on women than on men. In fact, it showed that women suffered financially only slightly more than men.

[Rotj]

master of the obvious?

[Minrott]

"If you really want to increase your wealth, get married and stay married. On the other hand, divorce can devastate your wealth,if you're a man. If you're a woman, get married and steal everything he's got!"

[Phlegm]

"If you really want to increase your wealth, get married and stay married. On the other hand, divorce can devastate your wealth,if you're a man. If you're a woman, get married and steal everything he's got!"

[Harrison]

"If you really want to increase your wealth, get married and stay married. On the other hand, divorce can devastate your wealth,if you're a man. If you're a woman, get married and steal everything he's got!"

[Diekan]

and then stick him for alimony while she fucks her coworker who she lusted after while she was married.

[araby]

We already knew this. Hell...the gifts before you actually GET married are enough to make you want to go ahead and do it. I want a fucking grill, but nobody is going to buy me one unless I got married or something. My brother got one ^_^ AND MATCHING BIKES

[Martrae]

Maybe if you gentlemen weren't so impressed over looks and looked for a little more substance you'd find a girl that didn't cheat on you or soak you with alimony....

[The Kizzy]

That is the least they deserve for having to fake orgasms for that many years.

[DESX]

Lol this is what I dont understand in the Islamic religion. They say that when you die you will go to paradise with your 7 virgins......shit you cant even find 1 here. Every woman is a leeching sob, so yes watch who you get married or they will suck your ass dry.......and I mean that both ways =P.

[araby]

I don't want to get married, but I swear it's the fucking truth, being single and independently wealthy doesn't pay...if your partner, or live-in situation would improve by saying you're married, then why not do it? If it doesn't work, there's always divorce, right? I hate our mindsets, noone is afraid to get divorced anymore, noone has enough self-respect or respect for others anymore, and it's not getting better! The truth is, that we have made our lives into the most convenient way to live now. It's never been easier/faster to get/do anything!

cheaters will cheat and the greedy will want..marriage is a joke today. the only way to benefit from a marriage-the legal union on paper-is financially. I don't mean of course, that families aren't a benefit...but you don't have to be married to have families.

I wish we took marriage seriously. Life would be a lot different.

[araby]

and kudos to the ones who are happily married =)

[labbats]

[Diekan]

"noone" is not a word, but I still love you!

[Jay]

Take Kanye's advice. Holler "we want prenup".

[Jimmy Durante]

IIRC, in Larry Ellison's biography there was a passage detailing how he sprung a prenup on his third wife an hour before their wedding

[Maeya]

"If you really want to increase your wealth, get married and stay married. On the other hand, divorce can devastate your wealth,if you're a man. If you're a woman, get married, get pregnant and steal everything he's got!"

Ugz's ex wife practically runs a business with the child support payments she has coming in to her. The amount of money he has to pay her for one child each month is fucking disgusting. He could afford to make 5 of my monthly car payments with it. If the same amount of money was put into an account for his daughter, she could have 4 years of college entirely paid for in just 6 years. And it just fucking got raised again. And the woman is an Office Manager in Atlanta - it's not like she's flipping burgers and can't afford to raise her child.

It's stupid, pushy, greedy women like that, that give the rest of us women a bad name.

[Darcler]

I'm not divorced with a child so I dont know about it personally, but my friend is. She gets paid like 300 or 400 a month from her ex in child support. I think that is enough to raise a 5 year old for a month, but he just got a raise so she is pushing for more after he moves in and get settled. Her kid is covered under his insurance and stuff...I just dont know why she needs more, other than the "this is what you get for leaving me" mindset.

[Maeya]

I just dont know why she needs more, other than the "this is what you get for leaving me" mindset.

And that's exactly what it appears to be in our case, too. Granted I understand that not every cent that Lang pays her is put directly towards his daughter. Some of it's being used to pay for rent, for utilities, for groceries. Fine - all of that goes towards ensuring the well being of his child.

But plastic surgery and a new SUV is not part of making sure his daughter is provided for, and that's exactly what she's talking about using the money for.

Child support, in many situations, is a very useful and good thing to have and I can totally understand the need for it. However, all too often it is abused simply as a means of being vindictive.

[Darcler]

Well, she does use it to pay rent. She works at Walmart, so she doesnt make a lot. While she is living with her mom...in a house that is paid for...she makes her pay rent...400 a month. Good mom.
But now she is moving in with her fiance, who also works at Walmart, so I think all of it is going to rent/utilities.
She is getting a fat tax return and is furnishing her apartment with all of that.

[Hylissa]

Well, she does use it to pay rent. She works at Walmart, so she doesnt make a lot. While she is living with her mom...in a house that is paid for...she makes her pay rent...400 a month. Good mom.

So why the fuck should her mom have to still support her and her kid? Gimme a break .. her turn's over~ Hell I had to pay my parents a couple hundred a month as soon as I was outta highschool. If you get to live for free, where's the incentive to do anything with your life?

[Darcler]

She allowed another of her daughters to live there after she moved out for free. Not at the same time as my friend was staying there, that would have just been cruel.

[Minrott]

I <3 you Maeya you're like the sanest woman here.