Marriage and Wealth Changes at Older Ages
Marriage and Wealth Changes at Older Ages
This chapter presents an examination of the impact on net worth and savings of changes in family structure at older ages. The analysis demonstrates that married couples have more wealth than unmarried individuals primarily due to the higher lifetime earnings and lower mortality risk of married couples compared to unmarried individuals. Divorce at older ages both divides and consumes wealth and has negative and long-lasting consequences on wealth accumulation while remarriage rebuilds assets.
Keywords: marriage, divorce, wealth, lifecycle, earnings, mortality risk
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