Link: Divorce's financial pain | The Courier-Mail.
Divorce's financial pain
Michelle Collins
March 18, 2007 12:00am Article from: The Sunday Mail
Excerpt:
THE marriage vow "until death do us part" can become "into debt do we part" for many Queensland couples who decide to split up, new research suggests.
An investigation by the Australian Institute of Family Studies reveals the financial impact of divorcing a partner can stretch long into retirement.
The study found that no matter when couples divorced, even if it was in their 20s, divorcees generally had fewer assets and were more reliant on the pension when they reached retirement age.
It also revealed that home ownership rates of divorcees, both those who remarry and those who never walk down the aisle again, were lower than the rate of those who were married and had never divorced.
People who did remarry sometimes improved their financial status but never to the same level as those who stayed married.
Comments