Women & Money: Divorce
According to a Census Bureau report, the divorce rate is down from peaks in the late 1980's and 1990's. Still 10% of marriages still fail during the first five years and 25% fall apart before the 10th anniversary. But among people ages 50 and older, the divorce rate has doubled over the past two decades.
Something like 2.8 million men and women go through the emotional and financial trauma of a divorce each year. Women, unfortunately, most often come out financially the worst in a divorce. Many women see their standard of living drop by one-third with a divorce. Money and financial blogger Julia Anderson joined us with advice for women whether they're happily married or on the verge of a breakup.
So how can women financially protect themselves? Here are a few tips from Julia:
Julia stresses, "If your husband takes the lead on financial management issues; you need to still stay active in your financial life together. You should ask questions and if you don’t understand something, ask the question, again."
For more information on money issues, visit Julia's blog.