4.6 • 682 Ratings
🗓️ 1 December 2022
⏱️ 10 minutes
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0:00.0 | This is the Ramsey Call of the Day, part of the Ramsey Network. |
0:10.8 | Christina Deloney and I were talking about this the other day. |
0:13.4 | There's several pieces of research out there that talk about that married people, people who are married versus single or versus |
0:23.6 | shacken up, have a financial advantage. |
0:28.1 | And the researchers have always called it the marriage advantage. |
0:31.6 | That they tend to build more wealth than any other category. |
0:38.0 | And also tend to move as a category, not a, it's a generalization, but I mean, in other |
0:46.8 | words, there's exceptions within each category, but they also tend to move faster in their |
0:50.4 | incomes and their careers. |
0:52.9 | And researchers have long tried to figure out what is causing that exactly, but they call it the marriage advantage. |
1:00.9 | That it's to your advantage statistically as far as wealth goes, income and wealth in general to be married. |
1:08.9 | Wall Street Journal comes out today with yet another study. |
1:11.9 | Moving in together doesn't match the financial benefits of marriage, |
1:16.0 | but why? |
1:16.7 | A walk down the aisle can be a route to greater wealth and prosperity for couples in the U.S. |
1:21.7 | Married people have higher net worths and are more likely to be homeowners |
1:25.8 | than their unmarried |
1:27.5 | counterparts their age as of 2019 the median net worth for cohabitating |
1:33.4 | checking up couples age 25 to 34 was 17,000 a quarter of that of 68,000 |
1:41.3 | that married couples of exactly the same age range. |
1:52.9 | So 25% the net worth of a married couple on average, according to data from the Federal Reserve Bank of St. Louis for singles is $7,300. |
2:07.8 | Over the past two decades, Americans are moving in together at higher rates and the share of U.S. adults who are currently married, steadily declined from close to 60% in the 90s to half, to under half in 2019, according to Pew, who did the research. |
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