People often talk about how money problems can lead to divorce. Many individuals take this to mean that couples who can’t have financial trouble generally endure more stress and are more likely to get divorced.
The opposite side of that statement is the suggestion that having more money may help you avoid divorce. After all, if you make $500,000 a year, you don’t have to worry about the same financial problems as someone making minimum wage.
Why divorce still happens
Of course, both news stories and statistics show that people with means still get divorced. In fact, some researchers have found that having more money actually increases the odds of divorce. Why is this?
For one thing, income levels do not always correspond to a lack of financial stress. Many people just have lifestyles that require a higher level of income. They could run into the same stress as less well-to-do couples in terms of taking on debt or covering monthly bills.
Additionally, some will argue that lower-income couples need to marry to better support each other. Higher-earning individuals may be more likely to split up because they can each comfortably support themselves. If they are unhappy in their marriage, they do not feel financially compelled to stay.
What are your options in a divorce?
If you are getting divorced in a higher income bracket, then it can get very complex. You have to consider investments, retirement accounts, spousal support, child support and many related issues. Be very sure you know what options and legal rights you have. Choices you make could impact your life long-term.