According to an article in today’s Daily News, a study by an Ohio State University researcher shows that a person who marries – and stays married – accumulates nearly twice as much personal wealth as a person who is single or divorced. For those who divorce, it’s a bit more expensive than giving up half of everything they own–they lose, on average, three-fourths of their personal net worth. As the study author puts it, “Getting married for a few years and then getting divorced is clearly not the path to financial independence”
The article notes that a big reason married people accumulate more wealth than others is economies of scale – one household is cheaper to maintain than two. Divorce reverses those benefits, and is one of the fastest ways to destroy your wealth.
I’d certainly agree with this, based on my experience and what I have seen from my friends. The article didn’t mention the effect of just living together.
