Deciding to get a divorce can be a scary, emotional decision. It can be especially daunting for the person in the marriage who might not make as much money as their spouse. Will they be able to support themselves and their kids if they leave the marriage?
Often times, it is the woman who feels she is risking financial security the most in a divorce. A recent report about finances after divorce, however, suggests that the risk is worth it for many ladies. They are working hard and earning their own living.
A new Pew Research Center study shows that women are not only doing okay after divorce, but they are financially thriving. On average, divorced women’s independent incomes increase by 25 percent after a split. Men’s incomes increase, too, but not as significantly. Their increase is 16 percent on average.
This information comes from The Huffington Post, and the piece does not delve into thorough details of the study. The statistics, while seemingly positive, present some questions related to the findings. For example, are women earning more after divorce because they have to work more hours? Or are they actually bringing in higher salaries?
A financial professional suggests women are getting more education, and their advanced skills and degrees lead to bigger jobs with more pay. If this is true, it sounds like divorce truly does allow for a fresh start for women, wherein they are self-sufficient and professionally accomplished.
What do you think about this study? Does it sound about right to you? Are you divorced and find that you fit into the picture of this statistic?
The Huffington Post: “Divorce Income Gap: Pew Findings Discussed On ‘This Morning,’” Jan. 19, 2012