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Consolidating finances when marrying
Coinciding trends While the above has been borne out statistically, there is some bias to note.
Interestingly, nowadays, people who choose to get married are more likely to be in a better position to accumulate wealth in the first place.
Cohabiting couples, on the other hand, tend to save and invest less, while keeping their finances separate.
“Today, those who are better educated and earn more are also more likely to get and stay married.
So one reason the married are wealthier is that today’s group of married men and women are more selective,” explained Wilcox.
This combination of factors makes married couples significantly better off.
“By the time they reach their 50s, married couples generally have about three times the assets their single peers do,” said W Bradford Wilcox, Professor of Sociology at the University of Virginia.