Join Early Retirement Today
View Poll Results: What Effect Does Divorce have on Net Worth?
Reached at least $1M Net Worth by Age 55, No Divorce 59 61.46%
Reached at least $1M Net Worth After Age 55, No Divorce 3 3.13%
Reached at least $1M Net Worth by Age 55, 1 Divorce 18 18.75%
Reached at least $1M Net Worth by Age 55, 2 or more Divorces 1 1.04%
Reached at least $1M Net Worth After Age 55, 1 Divorce 2 2.08%
Reached at least $1M Net Worth After Age 55, 2 or More Divorces 2 2.08%
Didn't Reach $1M Net Worth, but Retired Early, No Divorces 6 6.25%
Didn't Reach $1M Net Worth, but Retired Early, 1 Divorce 3 3.13%
Didn't Reach $1M Net Worth, but Retired Early, 2 or More Divorces 2 2.08%
Voters: 96. You may not vote on this poll

Reply
 
Thread Tools Search this Thread Display Modes
Re: Divorce, Net Worth and Early Retirement
Old 10-16-2006, 10:20 AM   #61
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 16,535
Re: Divorce, Net Worth and Early Retirement

Wow! I'm impressed by how many millionaires we have posting/responding on this forum. 68 out of the 78 respondents reached $1M net worth. That's 87%!

Audrey

P.S. OK, OK, I know $1M is not what it used to be!
__________________

__________________
Well, I thought I was retired. But it seems that now I'm working as a travel agent instead!
audreyh1 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Re: Divorce, Net Worth and Early Retirement
Old 10-16-2006, 11:25 AM   #62
Dryer sheet aficionado
 
Join Date: Nov 2005
Posts: 38
Re: Divorce, Net Worth and Early Retirement

What is even more impressive is that the vast majority of responders who achieved a net worth of at least $1M, did so before they reached 55 years of age. This surprised me. In addition, the majority (67.5 percent) of the millionaires were never divorced. The limited results from this poll do not seem to support those responders who claim that their divorce hastened their early retirement. As for myself, I know my two divorces set me back. My nestegg was built substantially on one paycheck. Compounded over time, another paycheck would have made a big difference.
__________________

__________________
GMueller is offline   Reply With Quote
Re: Divorce, Net Worth and Early Retirement
Old 10-16-2006, 11:36 AM   #63
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
youbet's Avatar
 
Join Date: Mar 2005
Location: Chicago
Posts: 9,965
Re: Divorce, Net Worth and Early Retirement

Quote:
Originally Posted by GMueller
The limited results from this poll do not seem to support those responders who claim that their divorce hastened their early retirement.
People seemed to be answering from two points of view:

1. Having a financially compatible mate from the get-go and never divorcing at all would most typically result in the fastest route to FI but,

2. If you have a bad marriage with financial incompatibility, getting divorced and staying single or finding a more financially compatible spouse will hasten FI compared to staying in the bad marriage.

I believe that most people who are claiming that divorce hastened FI meant as opposed to staying in a bad marriage, as in #2 above.
__________________
"I wasn't born blue blood. I was born blue-collar." John Wort Hannam
youbet is offline   Reply With Quote
Re: Divorce, Net Worth and Early Retirement
Old 10-16-2006, 05:34 PM   #64
Thinks s/he gets paid by the post
 
Join Date: Sep 2006
Posts: 1,322
Re: Divorce, Net Worth and Early Retirement

Quote:
Originally Posted by audreyh1
Wow! I'm impressed by how many millionaires we have posting/responding on this forum. 68 out of the 78 respondents reached $1M net worth. That's 87%!

Audrey

P.S. OK, OK, I know $1M is not what it used to be!
The real estate boom of the last 10 years have helped increased one's net worth dramatically. I'll bet a lot of folks with a net worth of 1M or over have a substantial amount tied in home equity.

It is still however a great accomplishment to achieve this level of net worth by the age of 55.
__________________
Corporateburnout is offline   Reply With Quote
Re: Divorce, Net Worth and Early Retirement
Old 10-16-2006, 05:41 PM   #65
Thinks s/he gets paid by the post
Spanky's Avatar
 
Join Date: Dec 2004
Location: Minneapolis
Posts: 4,046
Re: Divorce, Net Worth and Early Retirement

Quote:
Originally Posted by Corporateburnout
The real estate boom of the last 10 years have helped increased one's net worth dramatically. I'll bet a lot of folks with a net worth of 1M or over have a substantial amount tied in home equity.
There might be another poll that excludes home equity.
__________________
May we live in peace and harmony and be free from all human sufferings.
Spanky is offline   Reply With Quote
Re: Divorce, Net Worth and Early Retirement
Old 10-16-2006, 05:57 PM   #66
Full time employment: Posting here.
 
Join Date: Nov 2003
Posts: 926
Re: Divorce, Net Worth and Early Retirement

Quote:
Originally Posted by Spanky
There might be another poll that excludes home equity.
That's a good one. Someone want to start?

JG
__________________
Some of us have pretty stories, about good friends, good times and noodle salad.
Mr._johngalt is offline   Reply With Quote
Re: Divorce, Net Worth and Early Retirement
Old 10-16-2006, 07:34 PM   #67
Thinks s/he gets paid by the post
 
Join Date: Apr 2006
Posts: 1,487
Re: Divorce, Net Worth and Early Retirement

Quote:
Are you recommending a plan where you'd marry the first time planning on divorce so you could get on to the second marriage? Or, if you could pick out a good one first time around, would you stick with him/her?
not making any such recommendation, but if you know of a way to begin with the nth marriage without first experiencing the first n-1, i'd be interested to hear about it!

my comment ("both") means that the experience of the prior marriage was a "valuable learning exercise". had we begun with the second, we would not have had the "benefit" of that learning.
__________________
d is offline   Reply With Quote
Re: Divorce, Net Worth and Early Retirement
Old 10-16-2006, 07:40 PM   #68
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,620
Re: Divorce, Net Worth and Early Retirement

Quote:
Originally Posted by d
my comment ("both") means that the experience of the prior marriage was a "valuable learning exercise". had we begun with the second, we would not have had the "benefit" of that learning.
Not all knowledge has to be personally experienced to be "valuable".

And I hope there's no such thing as a "good starter marriage"...
__________________
*
*

The book written on E-R.org, "The Military Guide to Financial Independence and Retirement", on sale now! For more info see "About Me" in my profile.
I don't spend much time here anymore, so please send me a PM. Thanks.
Nords is offline   Reply With Quote
Re: Divorce, Net Worth and Early Retirement
Old 10-16-2006, 08:13 PM   #69
Thinks s/he gets paid by the post
 
Join Date: Apr 2006
Posts: 1,487
Re: Divorce, Net Worth and Early Retirement

Quote:
Not all knowledge has to be personally experienced to be "valuable".
there's no substitute for experience!
__________________
d is offline   Reply With Quote
Re: Divorce, Net Worth and Early Retirement
Old 10-16-2006, 09:18 PM   #70
Moderator Emeritus
Khan's Avatar
 
Join Date: Aug 2006
Location: Pine Island, Florida
Posts: 6,868
Send a message via AIM to Khan
Re: Divorce, Net Worth and Early Retirement

"A second marriage is the triumph of hope over experience."

One was more than enough.
__________________
"Knowin' no one nowhere's gonna miss us when we're gone..."
Khan is offline   Reply With Quote
Re: Divorce, Net Worth and Early Retirement
Old 10-16-2006, 09:26 PM   #71
Thinks s/he gets paid by the post
free4now's Avatar
 
Join Date: Dec 2005
Posts: 1,225
Re: Divorce, Net Worth and Early Retirement

Quote:
Originally Posted by Nords
Not all knowledge has to be personally experienced to be "valuable".
Such wise words. I actually think a large part of why I am FIRE is because I have a strong predilection to learn from history rather than by making my own mistakes. I know so many people who learn about investing by just "doing it". They learn about down markets by losing their money rather than by looking at historical charts. They learn about marriage by getting married. They learn about divorce by getting divorced.

Me personally, I want to learn about marriage by studying what happens to those people who have already tried it! But then again there are certain parts of relationships that simply don't make sense except in the first person.

__________________
free4now is offline   Reply With Quote
Re: Divorce, Net Worth and Early Retirement
Old 10-16-2006, 10:36 PM   #72
Thinks s/he gets paid by the post
Spanky's Avatar
 
Join Date: Dec 2004
Location: Minneapolis
Posts: 4,046
Re: Divorce, Net Worth and Early Retirement

Quote:
Originally Posted by free4now
I am FIRE is because I have a strong predilection to learn from history rather than by making my own mistakes.
What did you learn? You mentioned that you only worked in software for only 13 years. How do you manage to FIRE so early? Anyway, it is a great accomplishment.
__________________
May we live in peace and harmony and be free from all human sufferings.
Spanky is offline   Reply With Quote
Re: Divorce, Net Worth and Early Retirement
Old 10-17-2006, 01:04 AM   #73
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
youbet's Avatar
 
Join Date: Mar 2005
Location: Chicago
Posts: 9,965
Re: Divorce, Net Worth and Early Retirement

Quote:
Originally Posted by Nords
And I hope there's no such thing as a "good starter marriage"...


I'm very pleased for everyone (and I understand it's more than 50%) who chose to end their first marriage and move on and found a better situation in marriage 2 or 3 or........? It's good when things work out.

For us, well we kind of missed the boat. It's been 42 years since we first started dating and 36 years since we tied the knot. It got kind of busy inbetween then and now with earning a living and raising a family and we just forgot to call the lawyers to get the divorce proceedings going. So now we just party on knowing we missed our opportunity and living with the scorn and ridicule of being "old married fuddy duddies."

Could be worse I guess.....



__________________
"I wasn't born blue blood. I was born blue-collar." John Wort Hannam
youbet is offline   Reply With Quote
Re: Divorce, Net Worth and Early Retirement
Old 10-17-2006, 02:57 AM   #74
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jul 2005
Posts: 5,414
Re: Divorce, Net Worth and Early Retirement

i think my ex-wife and i would have gotten divorced a lot sooner but neither one of us wanted custody of the kids ha ha ha
__________________
mathjak107 is offline   Reply With Quote
Re: Divorce, Net Worth and Early Retirement
Old 10-17-2006, 04:53 AM   #75
Full time employment: Posting here.
 
Join Date: Nov 2003
Posts: 926
Re: Divorce, Net Worth and Early Retirement

Quote:
Originally Posted by youbet


I'm very pleased for everyone (and I understand it's more than 50%) who chose to end their first marriage and move on and found a better situation in marriage 2 or 3 or........? It's good when things work out.

For us, well we kind of missed the boat. It's been 42 years since we first started dating and 36 years since we tied the knot. It got kind of busy inbetween then and now with earning a living and raising a family and we just forgot to call the lawyers to get the divorce proceedings going. So now we just party on knowing we missed our opportunity and living with the scorn and ridicule of being "old married fuddy duddies."

Could be worse I guess.....



It will be 65 years for my folks next month. They get on each other's nerves
something awful and never did seem all that compatible. Quite
an accomplishment.

JG
__________________
Some of us have pretty stories, about good friends, good times and noodle salad.
Mr._johngalt is offline   Reply With Quote
Re: Divorce, Net Worth and Early Retirement
Old 10-17-2006, 05:06 AM   #76
Full time employment: Posting here.
 
Join Date: Nov 2003
Posts: 926
Re: Divorce, Net Worth and Early Retirement

Quote:
Originally Posted by Khan
"A second marriage is the triumph of hope over experience."

One was more than enough.
Amen, brother.

JG
__________________
Some of us have pretty stories, about good friends, good times and noodle salad.
Mr._johngalt is offline   Reply With Quote
Re: Divorce, Net Worth and Early Retirement
Old 10-17-2006, 06:01 AM   #77
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
donheff's Avatar
 
Join Date: Feb 2006
Location: Washington, DC
Posts: 8,649
Re: Divorce, Net Worth and Early Retirement

Quote:
Originally Posted by youbet

For us, well we kind of missed the boat. It's been 42 years since we first started dating and 36 years since we tied the knot. It got kind of busy inbetween then and now with earning a living and raising a family and we just forgot to call the lawyers to get the divorce proceedings going. So now we just party on knowing we missed our opportunity and living with the scorn and ridicule of being "old married fuddy duddies."

Could be worse I guess.....
Congratulations 2B. That is an accomplishment to be proud of. I remember my parents 50th and 60th reunions - loads of fun.
__________________
Every man is, or hopes to be, an Idler. -- Samuel Johnson
donheff is offline   Reply With Quote
Re: Divorce, Net Worth and Early Retirement
Old 10-17-2006, 06:41 AM   #78
Thinks s/he gets paid by the post
 
Join Date: Aug 2005
Posts: 1,375
Re: Divorce, Net Worth and Early Retirement

Frankly, I'm proud of my divorce. We were both miserable (especially me) and it took a LOT of guts to put it in motion. It was incredibly frightening as I had nothing (no money, no prep to earn a decent living, no lawyer, not much self-esteem at that point) and young children. Those of you who haven't woken up in the middle of the night most nights wondering what to do about your utter misery are very fortunate--and to be honest, IMO not in a postion to pass judgment on those who have been there. With my second husband, I've had more usual ups & downs--but I never spent months on end in a miserable funk with my life. It was easy to stay in this relationship--no kudos deserved or needed! Personally, I feel more deserving of congratulations for my divorce than for staying with my second marriage. Not that I ever expect to get it. Except from one person: when I told my best friend that my first husband and I were splittting, she said, "Thank God--what took you so long?!" And I had never even told her how I felt--I never told anyone! Apparently my unhappiness was obvious enough to those who cared to look.
__________________
You can't always get what you want, but if you try sometimes, you might find you get what you need.
astromeria is offline   Reply With Quote
Re: Divorce, Net Worth and Early Retirement
Old 10-17-2006, 07:59 AM   #79
Full time employment: Posting here.
 
Join Date: Nov 2003
Posts: 926
Re: Divorce, Net Worth and Early Retirement

Quote:
Originally Posted by astromeria
when I told my best friend that my first husband and I were splittting, she said, "Thank God--what took you so long?!" And I had never even told her how I felt--I never told anyone!
Yeah, I got some of that reaction (second time, not first time). Expect she did also.

JG
__________________
Some of us have pretty stories, about good friends, good times and noodle salad.
Mr._johngalt is offline   Reply With Quote
Re: Divorce, Net Worth and Early Retirement
Old 10-17-2006, 10:04 AM   #80
Full time employment: Posting here.
bosco's Avatar
 
Join Date: Jul 2005
Posts: 987
Re: Divorce, Net Worth and Early Retirement

Quote:
Originally Posted by astromeria
Frankly, I'm proud of my divorce. We were both miserable (especially me) and it took a LOT of guts to put it in motion. It was incredibly frightening as I had nothing (no money, no prep to earn a decent living, no lawyer, not much self-esteem at that point) and young children. Those of you who haven't woken up in the middle of the night most nights wondering what to do about your utter misery are very fortunate--and to be honest, IMO not in a postion to pass judgment on those who have been there. With my second husband, I've had more usual ups & downs--but I never spent months on end in a miserable funk with my life. It was easy to stay in this relationship--no kudos deserved or needed! Personally, I feel more deserving of congratulations for my divorce than for staying with my second marriage. Not that I ever expect to get it. Except from one person: when I told my best friend that my first husband and I were splittting, she said, "Thank God--what took you so long?!" And I had never even told her how I felt--I never told anyone! Apparently my unhappiness was obvious enough to those who cared to look.
wow, there are many similarities between this and my experience. Although I did have a profession and way to make a living. I was pretty beat down psychically, though. I was ready to settle for "every other weekend and 6 weeks in the summer" and sign over custody just to get it over with. My 11-year-old son stood up to me and basically said it "wasn't fair" that he and his brother couldn't spend half their time with each parent.

My ex was dead-set against this, so I had to threaten to have the court appoint a guardian ad litum in order for her to back off and agree to joint custody. That and a child therapist who really took my ex to task for her position. Looking back, I am so grateful that my son straightened out my thinking on this. I knew that I needed to get out of the marriage to save my life, but was brainwashed into thinking it was better to just give her what she wanted, that by traumatizing the kids I would be doing them more harm. I almost harmed them immeasurably more.

Ultimately, we both remarried and my second spouse and I bought a house 3 blocks from my ex. The kids went back and forth freely and although there were some rocky moments, I think everyone come out ahead.
__________________

__________________
I have an inferiority complex, but it's not a very good one.
bosco is offline   Reply With Quote
Reply

Tags
net worth


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
500 search phrases for 2006 dory36 Other topics 2 01-16-2007 08:00 AM
Financial Strategy for Early Retirement, New Graduate.. ebisky Young Dreamers 14 01-13-2006 01:41 AM
I thought I'd post a Picture of my Wife naked..... TromboneAl Life after FIRE 13 10-19-2005 10:14 AM
How people find us... asian carp?? dory36 Forum Admin 4 05-27-2005 01:07 PM

 

 
All times are GMT -6. The time now is 09:27 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.