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I don't have the spouse, supportive or other. Guess I better just accept the poor life!
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No. of Recommendations: 1
I don't have the spouse, supportive or other. Guess I better just accept the poor life!

I also don't have a spouse. However, I have not accepted the poor life, unless one counts living below one's means. 8)
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"I don't have the spouse, supportive or other. Guess I better just accept the poor life!"

Huh?

A working spouse can contribute an equal share to savings - or - a working/non working spouse can help the couple spend every penny they make, plus more - a life of high consumption and no savings...... but a single person can do either......

A working spouse who would like to be a diligent saver could have a spendthrift partner, who keeps the family net worth at zero or below!

A couple divorcing can split the assets....meaning each gets half, but each cannot live as well on half as the couple could on all......... so, with a divorce rate of 50%, I would say you have a 50% chance of winding up poorer if married.... then again, if the spouse contributed equally and half, you can look at it as if they are taking their half, you yours....who knows?


I really don't see any correlation about being or staying poor if you don't have a spouse...it can work either way!.

Then again, a spouse, who did not work and accumulate assets, will, if that spouse outlives the other, inherit all the family wealth.....

If you are single, you aren't going to inherit anything from anyone (other than your parents) likely...

No guarantees.....one way or the other.....

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Being married, not being married, has little direct *negative* impact on wealth accumulation as your ability as a single to make, save and/or spend money will not change while you are single as a result of the lone fact that you are single.

Bit of a mouthful there ... ;-)

Napoleon Hill happened to be walking through a hotel (in Chicago?) quite a few years ago in which the Dale Carnegie Institute was putting on a seminar. One of the Institute's organizers rcognized him and convinced him - a long-time bachelor now married - to speak a few words to the assembled throng. He said one sentence and took no questions. His sentence: "Gentlemen, your single greatest asset is your wife."

His meaning, as explained to some detail in "You Can Work Your Own Miracles" was that a cooperative spousal relationship - two minds working together toward a common goal - was a priceless resource.

Remember his speaking, on many occasions in his books, of The Master Mind? The first and best one starts at home.

Does this mean that a single person (unmarried) cannot become wealthy? Of course not. Does this mean that a married couple - solely by virtue of being married - has a better chance? Of course not. It means that a married couple, WORKING TOGETHER TOWARD A COMMON GOAL works the best.

Having been married for over 7 years now, and having had the opportunity to recognize the magnitude of skills my wife possesses in the arena of money management (I'm better at making; she's MUCH better at saving) I can say with no reservation that two working as one gets more done in less time.

It can be a challenge though.

Where a single person doesn't need to call home and explain that they'll be working late; or make excuses for not going to see the in-laws so they can continue working on a project; or budget for the needs of another person, a single person also doesn't have someone to help them live and work through life.

Personally, I've tried it single and I've tried it married and I really do believe that "married" is better.

(For those of you who recognize the name "Bill Britt", yes, that is a take off on his, "I've been rich and I've been poor ...", comment.)

It is more challenging. Let's face it, just living in the same house, much less agreeing on financial priorities, can be challenging enough. But there is no better feeling in the world than knowing that you and your spouse are working together toward the same goals.

RAB
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