14 February 2006

Marriage and Net Wealth

In honour of the day, I thought I'd point out an article that says that married people build wealth faster than single or divorced people.

[P]eople who walk down the aisle and stay hitched accumulate nearly twice as much wealth as those who are single or divorced.

Economist Jay Zagorsky of OSU's Center for Human Resource Research, tracked the financial and marital status of more than 9,000 people from 1985 to 2000. Married people amassed an astonishing 93 percent more than single or divorced people over the 15-year period.

The main reasons cited in the study was economies of scale. Single people need two homes while married couples only need one, etc...

(Though I don't think Valentine's Day costs are included in the study. That would certainly set a drag on the growth of wealth!)

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