Women in Transition: Financial Life After Losing or Leaving a Spouse
WOMEN IN TRANSITION financial life after losing or leaving a spouse Many Millionaires attribute achieving their level of wealth to having a successful marriage with a life partner. Unfortunately, women are regularly left to manage wealth on their own due to the death of or divorce from a spouse. These are women in transition who have unique financial challenges and hardships. Millionaires who 82% are married But divorcees and widows face making financial decisions alone. And although they are alone, these women often still have significant financial responsibilities such as caring for children and paying a mortgage. 68% Dlvorced/Separated/Widowed women who are homewoners Twenty-three percent of widows and divorcees have children younger than 18 years old living at home Life Insurance How can women better prepare for this financial phase? 25% One-fourth of Millionaires do 33% not have a life insurance policy One-third of widows say they have had to take on debt upon the death of a spouse Prenuptial Agreement Many millionaires are under-insured or try to self-insure, which may not provide the most protection for a spouse. Forty-six percent of millionaires recommend signing a prenuptial agreement, 43 percent of which are women. Millionaires who recommend Women 46% 43% who recommend a pre nup a pre nup NA BROUGHT TO YOU BY Other data source: CORNER MILLIONAIRE CORNER divorced.pdf ing.us/sites/ing.us.ri/files/what_about_women_infographic_
Women in Transition: Financial Life After Losing or Leaving a Spouse
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