Marry and grow rich!
Wednesday, October 18th, 2006
Looking to increase your wealth? Here’s a tip - get married!
It helps if your prospective partner is already a multimillionaire (or heir to one); but even if he or she isn’t, it doesn’t matter.
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.
And the corollary - if you get divorced, you lose, on average, three fourths of what you’ve got.
A big reason why people who get married save more, is because it’s cheaper for two to live together than to live separately. But that apart, several other factors also begin to play a role.
- Impulse buys are a lot less when two people share the decision making; because no two people are alike, one of them is likely to act as the voice of sanity.
- Being together tends to emphasise planning for the future. Typically, one of the first decisions a couple makes is about investing in a home - a big boost to the wealth building process.
- Planning for a family and children, means that people tend to look at saving more, to provide for expenses in later stages of life.
- And having something more than just yourself to take care of makes people more productive. No one knows why - it just happens.
But you need to find yourself the right partner. And stay with him or her, all the way.
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October 18th, 2006 at 11:45 am
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