Many of these people may have separated before the divorce became official, which would help explain why wealth starts falling so early. Divorce is often a long and messy process, and you can see this in the four-year decline in wealth.
Perception does not match reality. People don't want to admit they're doing terrible.
Getting married for a few years and then getting divorced is clearly not the path to financial independence.
Getting married and staying married is a wonderful way to increase your wealth - but the key is stay married.
I think it's really one of these really simple stories that two can live cheaper than one.
Some of that effect is due to economies of scale ... that is, two people can live more cheaply than one.
Looking at net worth it's really devastating for both.
While men come out slightly ahead, divorce destroys wealth dramatically for both sexes.
We can't tell from these data the reasons why divorced people have so much less wealth than those who are married. If you really want to increase your wealth, get married and stay married.
Divorce looks like one of the fastest ways to destroy your wealth.
Divorce causes a decrease in wealth that is larger than just splitting a couple's assets in half.
Couples' wealth disagreements arise because men report higher values for the family assets, while women report larger values for the family's debts.
Even a decade after divorce, the median wealth stays below $10,000.
There's quite a gap between husbands' and wives' reports of their financial status. These differences may have significant impacts on everything from a couple's relationship to national reports of economic statistics.
Some people may also be working less and not trying as hard to build wealth as they have marriage troubles. Divorce is often a long and messy process.
If you really want to increase your wealth, get married and stay married. On the other hand, divorce can devastate your wealth.
You can?t go to work if you are in a lawyer?s office.