Women on SS are atypical

[Francesco]

Women generally face more financial difficulties in later life than men, excepting most women on SS.

Below is another finding on finances of divorced women with implication for their later lives. Men in divorce suffer a deterioration in their wellbeing.

http://www.abc.net.au/news/2012-07-24/women-harder-hit-financially-by-divorces/4149760

"A new study has shown women's long-term finances are more affected after divorce than men.

Joint research led by the Australian Institute of Family Studies has shown divorced women found it difficult to recover financially and the effects last into old age.

Women with dependent children found it particularly difficult to recover financially, due to problems balancing childcare and work.

Institute director Professor Alan Hayes says while women without dependent children financially recover after six years, those with young children find it hard."

Moral: Best not to divorce but women who attain the financial nous as those in SS probably have less financial worries in old age.

 

[alexlee]

Women generally face more financial difficulties in later life than men, excepting most women on SS.

The comparison is flawed, yes? Obviously the more financially savvy you are, the lower your changes of facing financial difficulties, on average. However, financial difficulty is relative, so the proof to your exception would be if divorced SS women don't face more financial difficulties in later life than divorced SS men.

 

[willair]

Women generally face more financial difficulties in later life than men, excepting most women on SS.

Below is another finding on finances of divorced women with implication for their later lives. Men in divorce suffer a deterioration in their wellbeing.

http://www.abc.net.au/news/2012-07-24/women-harder-hit-financially-by-divorces/4149760

"A new study has shown women's long-term finances are more affected after divorce than men.

Joint research led by the Australian Institute of Family Studies has shown divorced women found it difficult to recover financially and the effects last into old age.

Women with dependent children found it particularly difficult to recover financially, due to problems balancing childcare and work.

Institute director Professor Alan Hayes says while women without dependent children financially recover after six years, those with young children find it hard."

Moral: Best not to divorce but women who attain the financial nous as those in SS probably have less financial worries in old age.

How do you know if the poster is a Lady or a Man,some Ladies in this site post like Men,pity the husband,and some Men post like Ladies,not trying to have a go at you in any way,Franceso..

 

[Andrew_A]

It seems to be a large wealth destruction event, and increasingly common sadly.

I have been surprised by how much enquiry I get from people in their 40's and 50's recently divorced and much asset poorer, though still with good incomes and are seeking to invest for the 20 years or so they have left in their working lives, must be a lot of people like this.

 

[Peter_Tersteeg]

I don't need a study to tell me that women come out worse from a separation than the men, I've seen it a few times in my business.

A divorce screws up both parties. If there's a house as part of the settlement and the debt over the property isn't that great, usually the woman will get it, along with the kids.

If there is a large debt, often the husband will get the house and the debt, the woman will get a cash payout.

So far it's reasonably fair and equitable.


The problem is that usually the woman either isn't working or the mans income is substantially higher. She may want the house but can't qualify for a loan to pay out the man. The house is sold and they each get some funds from the sale. She's also more likely to have custody of children and whilst child support may be paid, it's often insufficent. If the child support is enough, she's unlikely to persue a carrer and thus will be left with less when the kids turn 18.

The man then buys another house. The woman can't afford a loan so she takes her cash, rents a property and eventually the cash gets spent on hundreds of little things.

Years later, the man has got some equity in his new house and has probably found a new woman to keep him company, etc.

The wife is either still single and renting, will likely never be in a position to own her own home, or she's got a new partner and gets some financial security that way.


Either way, the man recovers from a separation to some degree but the separation is a huge setback for him. The woman is more likely to either never recover or will be dependant on a new partner in the future.

The inequality usually stems from the traditional roles of the man being the breadwinner and the woman being the homemaker and carer.


For both parties the wise advice would be to either make good decisions, be a good partner, and mate for life, or never mate at all.

Another observation I've made is that on average single women in their 40s do just as well as single men in their 40s. In many cases they do even better, possibly because they're not wasting resources trying to impress anyone. Many of the guys I've met in their 40s who have never been married generally aren't the kind of guys I'd want my sister to go out with.


Naturally this is my limited and very general observations. I've put my fire-proof suit on, let the flames begin!

 

[Aaron_C]

Women have less superannuation than men because they generally work less. They also work in lower paying professions which compounds this problem. These are just facts I don't think anyone's gonna flame anyone for it.

 

[Peter 14.7]

Divorce is a wealth destroying event.

I went to to seminar in the early 90's where one speaker was a local Solicitor. He was a husband and wife mid size firm. He advised "don't divorce simply stay together financially but live apart".

Anyhow many years later, i heard....he and she were divorcing and She was the family law expert in the firm. Next thing I heard.... he had flipped his Ferrari on private land. Why private, well then there is no police report, simple insurance claim. Not looking good Hey? Then I heard she had taken how for all of it and he had attempted suicide.

Moral of the story. Don't own a Ferrari? .... No....don't Divorce, chose wisely the first place.

Peter 14.7

 

[weg]

The women I've seen languish financially after divorce are those without the ability to earn a decent income themselves.

2 of the last 3 women I know who divorced, earned above average wages, both came out with around 500K settlement, so not a huge amount, and both are good money managers, and don't appear to be suffering too much financially (one just returned from a European holiday).

The third has a slighly less but above average income, almost no settlement, because they had so many debts, but is living in a nice, rented courtyard home in a nice suburb. Still buys nice clothes, drives a good car and lives to a similar standard lifestyle. Is still a poor money manager.

This is opposed to one girl I know who divorced, had a small settlement (both low income earners with little equity) but because she worked part time in reception and earned little could never afford a home (her words).

She still rents goes without, and as far as I know recieves little from her husband because he's still a low income earner (I'm friends with her sister and have had updates).

 

[Peter 14.7]

On the topic... in the end women do suffer more than men and if I were a woman I would be protecting myself left, right and centre at being left disadvantaged in divorce. I offers my wife a prenuptial but she said no. She is lucky I am not a ******* and we love each other still.

Being a dad of only girl child, she will have firm prenuptional agreement and especially as it very likely she will bring more to marriage than he will.

Regards Peter 14.7

 

[DavidMc]

PT, this snippet should draw away some of those flames! (this is for the US)

82% percent of all divorces are initiated by the woman.
Woman-initiated divorce is between 73% and 94% based on
varying demographics, coming to an average of 82%. The
sources for this statistic are: National Center for Health
Statistics, American Law and Economics Review, Divorce
Source Research Center in Atlanta, Georgia, and many,
many others. If you just can’t believe it, feel free to Google
this and do your own verification.

 

[weg]

I think it's important to teach a girl skills on how to be financially independent and not rely on anyones income for survival, including the parents (regardless of what they're in line to inherit, gain through a spouse, etc.).

 

[Optimist]

I have been divorced for 3 years now and in that time I have purchased 1 PPOR and 2 investment properties. I am a low wage earner with not much super, have worked full-time for the last 33 years and have two dependent children. When I was married we had 3 investment properties and a PPOR but I had to sell everything and start again. At the time I didn't think of how I was going to afford to pay and upkeep these properties I just wanted to get back into investing. I truly believe if you have a passion then you need to fulfil it. I am actively looking for my next property. I think you could call me atypical!!

 

[travelbug]

How do you know if the poster is a Lady or a Man,some Ladies in this site post like Men,pity the husband,and some Men post like Ladies,not trying to have a go at you in any way,Franceso..

How does one "post like a man"? Talk about tools and sound like you know what you're doing?

Now I'm worried . Do I post like a man (which I'm not)?

 

[pennyk]

.

Being a dad of only girl child, she will have firm prenuptional agreement and especially as it very likely she will bring more to marriage than he will.

I've found children tend to do exactly the opposite of what you hope they will........ I dont think you can force your child to have a pre-nup.

 

[willair]

How does one "post like a man"? Talk about tools and sound like you know what you're doing?

Now I'm worried . Do I post like a man (which I'm not)?

When i was in a small business,you live by the phone and after a while you get a very clear picture in your mind on within 10 seconds,,on who and what sort of person you are talking too even before you give them a price and time factor,,and over the years your understanding of people becomes very real ,you have too in any small business,the same seems to come out in the way people post inside this site,but it might be only me,and the experience of life,not trying to have a go at anyone,but some people in business can do that in 30 seconds,some will never get too that level of understanding..
btw the people that i have meet over the years from this site have been exactly what i have pictured them prior too meeting them..

 

[weg]

How does one "post like a man"? Talk about tools and sound like you know what you're doing?

I know many females here have spoken about tools, and sound like know what they're talking about.

Presently have 4 different screwdrivers in my small handbag, and am a bit of whiz in the kitchen (if I may say so myself) so that must make me a man lady .

 

[Peter 14.7]

I've found children tend to do exactly the opposite of what you hope they will........ I dont think you can force your child to have a pre-nup.

Your right Penny...I can simply advise and hope. My greatest fear is whilst she is a sensible investor type she will fall in love with some "conceptual" claymation artist living out of his Kombie Van

However I am pleased to (so far) have a girl that is half me and half wife.

That means she is: very beautiful, intelligent, with a steel trap mind for remembering.

Yet she is: demanding, a good debater and a control freak.

I leave it to you to work out which half is me or wife!

Peter 14.7

 

[Nemo30]

My husband and I have our finances separate. We go halves on all day to day expenses and have our own investments and bank accounts.

When we bought our PPOR, we put in exactly half each.

It helps that we earn the same.

In the unlikely event that we divorced it would be a very easy split.

 

[Mr. Fabulous]

Presently have 4 different screwdrivers in my small handbag, and am a bit of whiz in the kitchen (if I may say so myself) so that must make me a good catch .

Yes. Yes, it does.

 

[Mr. Fabulous]

I've found children tend to do exactly the opposite of what you hope they will........ I dont think you can force your child to have a pre-nup.

Peter and Mrs Peter can always say 'No pre-nup, everything goes to charity. Choose.'