People who have no financial assets, or even money for a car, are significantly less likely than others to marry, researchers found. Study author Daniel Schneider of Princeton University said Americans have been getting married later in life and are becoming more likely forego marriage altogether during the past several decades. From 1970 to 2000, the median age of a first marriage rose by about four years, and the percentage of people who decided not to marry increased from 5% to 10%, Schneider said. Earlier studies found a steady job and a good income are important factors in deciding to marry, but income explains only part of the gap. Schneider said owning a car increases the probability that a man will get married in a given year by 2.6%, and having a savings or retirement account increases the probability by 1.5%. Wealth increases the likelihood that a woman would marry, but to a lesser extent than among men.
Monday, October 10, 2011
Broke Folks Less Likely To Get Married
People who have no financial assets, or even money for a car, are significantly less likely than others to marry, researchers found. Study author Daniel Schneider of Princeton University said Americans have been getting married later in life and are becoming more likely forego marriage altogether during the past several decades. From 1970 to 2000, the median age of a first marriage rose by about four years, and the percentage of people who decided not to marry increased from 5% to 10%, Schneider said. Earlier studies found a steady job and a good income are important factors in deciding to marry, but income explains only part of the gap. Schneider said owning a car increases the probability that a man will get married in a given year by 2.6%, and having a savings or retirement account increases the probability by 1.5%. Wealth increases the likelihood that a woman would marry, but to a lesser extent than among men.
