divorce makes you broke

[nathaniel 0]

On average...

Quote

A new nationwide study provides some of the best evidence to date of the devastating financial toll divorce can wreak on a person's wealth. The study of about 9,000 people found that divorce reduces a person's wealth by about three-quarters (77 percent) compared to that of a single person, while being married almost doubles comparative wealth (93 percent).

Careful what the percentages are taken against.

Since it would take approx a 50% cut on your married wealth to get back to your single wealth, a 77% drop as a result of divorce is much worse than just staying single as far as your wealth is concerned.

Now your mental health...that wasn't part of this study...

forgot the clicky http://www.eurekalert.org/pub_releases/2006-01/osu-dda011806.php

My advice is to do what your parents did; get a job, sir. The bums will always lose. Do you hear me, Lebowski?

[kallend 2,151]

Seems a likely explanation could be ignoring a common cause.

Maybe the type of personality that can't generate wealth is also the type that can't get (or stay) married.

...

The only sure way to survive a canopy collision is not to have one.

[billvon 3,120]

>Seems a likely explanation could be ignoring a common cause.

Or cause and effect could be reversed.

[LuvToFly 0]

Quote

Maybe the type of personality that can't generate wealth is also the type that can't get (or stay) married.

So much for Donald Trump, then.

"The helicopter approaches closer than any other to fulfillment
of mankind's ancient dreams of a magic carpet" - Igor Sikorsky

[Shotgun 1]

Interesting... When I got divorced, my wealth seemed to be about the same as it was before I got married (and about the same as it was while I was married), and so did my ex-husband's... except that our salaries were both probably a little higher than they were before we got married.

But yeah, I think it might have taken more of a toll on my mental health...

[kallend 2,151]

Quote

Quote

Maybe the type of personality that can't generate wealth is also the type that can't get (or stay) married.

So much for Donald Trump, then.

Don't confuse individuals with statistical averages. Do you know any families with 2.4 children and 0.4 dogs?

...

The only sure way to survive a canopy collision is not to have one.

[Andy9o8 2]

Quote

Seems a likely explanation could be ignoring a common cause.

OK, I don't mind taking off on this to hijack the thread a bit.

I remember a teacher of mine in the 8th grade used the following example to illustrate the use of fallacious correlations.
Seems that when sales of ice cream go up, rates of violent crime go up. Ergo, ice cream causes violent crime, right? Simple.
Actually, rates of violent crime do go up on particularly hot days. Basically, the heat makes people grouchy and intolerant, and, well, you get the picture. Not hard to figure out why ice cream sales go up on hot days, too; but obviously there's no correlation between ice cream and the rate of violent crime.
Just thought I'd share.

[nathaniel 0]

Well, if you were only married for a short time, the article does say that the change takes time to accumulate... and they are careful to point out that the sums of money involved are rather small, a few thousand dollars or so. These are Americans they studied, and Americans are famous for not saving.

My advice is to do what your parents did; get a job, sir. The bums will always lose. Do you hear me, Lebowski?

[masterrig 1]

Quote

Quote

Seems a likely explanation could be ignoring a common cause.

OK, I don't mind taking off on this to hijack the thread a bit.

I remember a teacher of mine in the 8th grade used the following example to illustrate the use of fallacious correlations.
Seems that when sales of ice cream go up, rates of violent crime go up. Ergo, ice cream causes violent crime, right? Simple.
Actually, rates of violent crime do go up on particularly hot days. Basically, the heat makes people grouchy and intolerant, and, well, you get the picture. Not hard to figure out why ice cream sales go up on hot days, too; but obviously there's no correlation between ice cream and the rate of violent crime.
Just thought I'd share.

_________________________________________

Don't forget, full moons! I've heard police officers 'swear' that, crimes go up on the nights of a full moon. I don't know about the ice-cream thing. Maybe, ice-cream sales go up... more Good Humor trucks get robbed???


Chuck

[freethefly 6]

Quote

Do you know any families with 2.4 children and 0.4 dogs?

I know a guy who has a dog that was born with only front legs, .8. He named it Jason. Should had named it pointeight.

"...And once you're gone, you can't come back
When you're out of the blue and into the black."
Neil Young

[Shotgun 1]

Quote

Well, if you were only married for a short time, the article does say that the change takes time to accumulate...

We were married a little over two years... I think what probably made us different than the average was that we didn't buy a house together or have any children, and we kept all of our finances separate... and the divorce itself was inexpensive because we had no need to get lawyers involved.

[happythoughts 0]

Quote

Don't confuse individuals with statistical averages. Do you know any families with 2.4 children and 0.4 dogs?

Scotty has 1.75 dogs.

[happythoughts 0]

Quote

the divorce itself was inexpensive because we had no need to get lawyers involved.

Divorce lawyers are like cats that solve a dispute for two mice.

[Lindsey 0]

Quote

Quote

the divorce itself was inexpensive because we had no need to get lawyers involved.

Divorce lawyers are like cats that solve a dispute for two mice.

I'm hoping to have mine paid this summer....

linz

--
A conservative is just a liberal who's been mugged. A liberal is just a conservative who's been to jail

[Mike111 0]

but doesnt it depend on the settlemtn before? don't couples agree on what they will part with if one gets divorced before they marry?

[mnealtx 0]

Depends on if it's a community property state or not.

In a community property state, what you bring into the marriage is yours. What is gained during the marriage belongs equally to both partners.

Most community property states will let the spouses "split" community property between them ("You get the house, I get the condo"), as long as it's equitable to both.

Mike
I love you, Shannon and Jim.
POPS 9708 , SCR 14706

[rehmwa 2]

Quote

; but obviously there's no correlation between ice cream and the rate of violent crime.
Just thought I'd share.

actually, this is a great example of correlation. Also an excellent example of NOT being causation.

...
Driving is a one dimensional activity - a monkey can do it - being proud of your driving abilities is like being proud of being able to put on pants

[wmw999 2,589]

Quote

Most community property states will let the spouses "split" community property between them ("You get the house, I get the condo"), as long as it's equitable to both.

Which is wonderful -- it lets people take control of their own divorces, and keep all the money that lawyers would otherwise get.

Doesn't have to be completely equitable, either. The judge will just ask "are you happy and satisfied with this settlement?"

At least that's how it worked in my case.

Wendy W.

There is nothing more dangerous than breaking a basic safety rule and getting away with it. It removes fear of the consequences and builds false confidence. (tbrown)

[happythoughts 0]

Quote

The judge will just ask "are you happy and satisfied with this settlement?"

Type 1- People can agree on "fair", settle it themselves, and file the paperwork for less than $100.

Type 2- Same as above, but they let a lawyer file the papers, just to be sure.

Type 3- There is a disagreement over what constitutes "fair". It costs $5K in legal fees.

Type 4- At least one side recognizes "fair", but wishes to stand in a pool of gas and throw matches at the other. It costs $10-12K in legal fees.

There seems to be a shortage of Types 1 and 2, and plethora of wealthy divorce lawyers.

[skymedic 0]

Quote

Don't forget, full moons! I've heard police officers 'swear' that, crimes go up on the nights of a full moon. I don't know about the ice-cream thing. Maybe, ice-cream sales go up... more Good Humor trucks get robbed???

Seems to me like our local psych wards here are filled to the brim during a full moon..as we tend to run far more psych's during the days before and after a full moon. LUNAtics and all..

Marc
otherwise known as Mr.Fallinwoman....

[lawrocket 3]

Quote

Type 1- People can agree on "fair", settle it themselves, and file the paperwork for less than $100.

Type 2- Same as above, but they let a lawyer file the papers, just to be sure.

Type 3- There is a disagreement over what constitutes "fair". It costs $5K in legal fees.

Type 4- At least one side recognizes "fair", but wishes to stand in a pool of gas and throw matches at the other. It costs $10-12K in legal fees.

There seems to be a shortage of Types 1 and 2, and plethora of wealthy divorce lawyers.

Divorces are but one thing I handle. I personally think Type 2 is the best. However, there are some attorneys in town who do not. There are a few attorneys in town (and they are typically women, believe it or not) where if I find out that one of them is on the other side, I'll double my retainer because the bitches are money-grubbing, pain-in-the-ass, paid whores.

Fortunately in California, we have some sections of the code that make the other side pay for increasing litigation costs. Unfortunately, there are a couple of local judges who don't award them as a matter of personal policy.

My wife is hotter than your wife.

[mnealtx 0]

Quote

Quote

The judge will just ask "are you happy and satisfied with this settlement?"

Type 1- People can agree on "fair", settle it themselves, and file the paperwork for less than $100.

Type 2- Same as above, but they let a lawyer file the papers, just to be sure.

Type 3- There is a disagreement over what constitutes "fair". It costs $5K in legal fees.

Type 4- At least one side recognizes "fair", but wishes to stand in a pool of gas and throw matches at the other. It costs $10-12K in legal fees.

There seems to be a shortage of Types 1 and 2, and plethora of wealthy divorce lawyers.

I'm hoping for #1, but scared it's gonna be #4...

Mike
I love you, Shannon and Jim.
POPS 9708 , SCR 14706

[masterrig 1]

Quote

Quote

Don't forget, full moons! I've heard police officers 'swear' that, crimes go up on the nights of a full moon. I don't know about the ice-cream thing. Maybe, ice-cream sales go up... more Good Humor trucks get robbed???

Seems to me like our local psych wards here are filled to the brim during a full moon..as we tend to run far more psych's during the days before and after a full moon. LUNAtics and all..

_____________________________________

Doesn't a full moon bring-out vampires, too?

Chuck

[RhondaLea 4]

Quote

There are a few attorneys in town (and they are typically women, believe it or not) where if I find out that one of them is on the other side, I'll double my retainer because the bitches are money-grubbing, pain-in-the-ass, paid whores.

When I started as a legal assistant, it was in a family law (then called matrimonial) practice, and I worked for a woman.

I found the women attorneys to be eminently reasonable, but the men were insane. I don't know what has changed in the intervening 20 years, but it's not to the good.

On the other hand, I do remember one client we had who insisted on filing a post-judgment motion about socks and underwear for the children. This was just one in a long run of competing motions, and the judge finally said "enough."

But still...some clients are just insane. I'm pretty sure that particular divorce cost well more than $20k (each) and that was in 1984, when my then-boss was charging less than $100/hourly.

rl

If you don't know where you're going, you should know where you came from. Gullah Proverb

[lawrocket 3]

Women attorneys occupy the outliers. There are two female attorneys in town that I would gladly litigate every case I will ever have against. Toni and Cheryl are two of the smartest, best, cordial, professional, nicest and sweetest attorneys I have ever come across. (They both adore my wife, too, and if they like her, I do, too).

On the other hand are five women family law attorneys who are just despicable human beings. While learned at the law, they are unprofessional, tacky and just horrible people. I describe them as "zealous advocates" when asked my opinion of them.

There are some scummy men in town, too, but none of whom ever rubbed me as badly as those women have.

My wife is hotter than your wife.