It's definitely cheaper to heep her

Discussion in 'Current Events' started by Abbey Normal, Jan 20, 2006.

  1. Abbey Normal
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    Abbey Normal Senior Member

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    Marriage builds wealth more than being single?
    By Joanne Morrison
    Fri Jan 20, 1:55 PM ET

    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.
     
  2. archangel
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    archangel Guest

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    tis much cheaper to "heep" her...did it back in 81' now I can afford lunch! :D

    I know ya meant keep...just could not pass on this one!
     
  3. Abbey Normal
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    Abbey Normal Senior Member

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    Oops! :D
     
  4. 007
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    007 Charter Member Supporting Member

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    Yeah it's a fact. Two can get much further than one. It's simply math. It's double the money in one household.
     
  5. Abbey Normal
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    Abbey Normal Senior Member

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    It's double the money if both work. It is generally expenses shared, which is a savings.

    I wish the article had explained why it is that women fare only slightly worse in divorce than men; it just says that the study shows it.
     
  6. KarlMarx
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    KarlMarx Senior Member

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    My personal experience agrees with your post. I believe that I made out better, even though it was a struggle in the beginning.

    Marriage is definitely preferable to divorce. I'm afraid, though, I 'll probably never take the plunge again.

    At my age, there are too few available people, and amongst them, too many, myself included, with too much baggage. Then there are the problems of "yours, mine, ours" i.e. kids, property, household responsibility etc.

    It's difficult, but I believe it's a choice between my present circumstances and the possibility of going through another divorce, with all the psychological pain, expense and so forth. The odds of 2nd marriages failing are more than 66 percent. I compare that to an investment. I wouldn't put my money in an investment that had a 66 percent chance of losing money, likewise, I won't invest the remaining years I have left nor risk my property on an enterprise with a 66% chance of failure.

    I believe that, in the end, I'll am better off remaining a single man. The lawyers are going to have to find another sucker to make a buck off of.
     
  7. Annie
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    Annie Diamond Member

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    :beer: I would say I came out much worse from the divorce, financially. But much better personally and for my children, which was the most important. I think marriage is the best way to bring up children, even a 'not so great marriage', but not one with a mentally ill person, even if they are 'brilliant' and make a lot of $$$.

    For the same reasons as you, while I like the idea of marriage, wouldn't want to do so again.
     
  8. Nienna
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    Nienna Senior Member

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    Marriage has its ups and downs. After a few years, and a few kids, the "magic" fades, if not disappears all together. I'm a huge advocate of sticking it out, anyway.

    However, abusive situations are the exceptions. My sister was married to a real wacko jerk, who abused her in every way, physically, emotionally, psychologically, spiritually, and maybe ways that I don't want to know about. She finally woke up and divorced him. He stuck her with a huge tax debt, so her wages were garnished bc he was "self-employed." She had to move back in with my parents. My dad paid off the debt, so that she could get away from paying the interest, and she lived with them until she paid my dad back. Even though my sister is a BSN, and her jerk ex-husband was a landscaper, she came off way worse financially.

    But she did remarry, to a good, stable man. Thank God.
     
  9. dilloduck
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    dilloduck Diamond Member

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    Lawyers taking advantage of people who have problems make out like bandits.
    If the divorce rate dropped they might have to sell off a Mercedes or something to get by.
     
  10. 007
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    007 Charter Member Supporting Member

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    And that is what I meant of course. I'd never be married to someone who didn't. There are no free rides on my back.

    Now if I was filthy rich, that would be a different story.
     

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