Marriage Is Good for Couples’ Finances. Are You and Your Spouse on the Right Track?
Time.com 23 August 2016
Family First Comment: “People who never married are at 3.3 times greater risk of experiencing “negative wealth”—that is, having debt that exceeds their assets—compared to continuously married individuals, the study found. And people who are separated or divorced have between a 2.2 and 3.0 greater risk of experiencing negative wealth than people who stayed married.”
People who are married are in better financial shape than others when they reach their fifties. Tell us your stories and advice about working as a team.
Money can tear couples apart, but those who stay together tend to amass more wealth than those who never marry, who divorce, or who live together without marrying, new research finds.
“Married people do better,” says Amelia Karraker, assistant professor at Iowa State University and co-author of a recent working paper on marital histories and financial security in midlife. Specifically, people who stay married to their first spouse enjoy higher net worth on average.
The Iowa State study looked at people’s finances when they hit the 51-to-56 age bracket, a point in midlife when income and assets frequently peak and retirement planning needs to be in high gear. People who never married are at 3.3 times greater risk of experiencing “negative wealth”—that is, having debt that exceeds their assets—compared to continuously married individuals, the study found. And people who are separated or divorced have between a 2.2 and 3.0 greater risk of experiencing negative wealth than people who stayed married.
READ MORE: http://time.com/money/4455829/marriage-good-for-couples-finances-tell-your-story/
