SINGLE PARENT HOUSEHOLDS NOT THE PATH TO WEALTH

Staying married has its benefits, especially financial, as a new U.S.-wide study shows the wealth of a married person is almost double that of somebody who is single.

Divorce among U.S. baby boomers reduced personal wealth by about 77 percent compared to that of a single person, while the financial standing among those who remained married almost doubled, according to a nationwide study released this week.

“If you really want to increase your wealth, get married and stay married. On the other hand, divorce can devastate your wealth,” said Jay Zagorsky, author of the study and a research scientist at Ohio Sate University’s Center for Human Resource Research

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