The rise in people who are divorcing after the age of 50 shows something that might surprise Missouri residents. Even though there has also been a rise in pressure to stop wage gaps between genders, women aren’t as involved in martial finances as men.
USB Global Wealth Management conducted a survey that focused on the financial health and decision making of various groups. It found that 56 percent of married women defer financial decisions to their husband. This isn’t applicable only to older women: Around 61 percent of millennial women follow that trend.
It is surprising to realize that even though women are exerting their rights in the workforce, they might follow more traditional paths at home. As a result of not being active in the financial decisions, some women don’t feel confident in making money when they don’t have their husband there.
The rise in gray divorce is a bit troubling when the lack of financial decision-making confidence is factored into the equation. These women might not know how to handle investments, which could lead to them being financially unstable after the divorce.
One way that these women might be able to improve their situation is to make sure that they have a property division settlement that puts them on the best footing possible when they are starting over. They shouldn’t be focused solely on walking away with the highest-value assets. Instead, they should consider how each asset might impact their finances in the next few years and decades. Some assets, such as real estate, might have a high value, but these assets can also be costly when individuals start adding up insurance, upkeep costs, taxes and other related expenses.