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Married women in two-income households face the highest risk of financial instability in retirement, according to a report from the National Retirement Risk Index by Prudential.
This is because two-income households tend to spend more on monthly expenses, such as a mortgage and vehicles, because they can afford to when sharing bills. However, in the event of a divorce or the death of one spouse, the other would be left with expenses above their income.
Below, three women who faced economic hardship after divorce share the biggest financial mistakes they made while married and what they did to rebuild their wealth.
Mari Adam and her husband didn’t share the same values, even though they shared an account
Mari Adam is now a certified financial planner. But when she got married at 26, she didn’t know as much about money as she does today. She learned too late in her marriage how important it is to have shared values about money, parenting, and lifestyle before tying the knot.
Adam and her husband both had funds in their own names, but also had a significant amount of money in a shared investment account that was often …read more
Source:: Businessinsider – Life