Stores icon
Stores
Buyers icon
Buyers
Contact us
1 (888) 222-0208
Service Center
Operating hours
Mon-Fri
9:00 a.m to 8:00 p.m EST
Sat
10:00 a.m to 6:00 p.m EST
Sun
Closed

*You can submit an item 24/7

WP_Term Object
(
    [term_id] => 1
    [name] => Worthy Living
    [slug] => worthy-living
    [term_group] => 0
    [term_taxonomy_id] => 1
    [taxonomy] => category
    [description] => 
    [parent] => 0
    [count] => 403
    [filter] => raw
    [object_id] => 16743
    [cat_ID] => 1
    [category_count] => 403
    [category_description] => 
    [cat_name] => Worthy Living
    [category_nicename] => worthy-living
    [category_parent] => 0
)
Back to Blog

Building a Financial Fresh Start: A Financial Study on Divorced Women

Header_1394x566_3people

Worthy is proud to announce the recent release of our Divorce Financial Study in July 2018! The results are based on our Wealth Warriors survey, conducted in April 2018, and was written in collaboration with Laurie Itkin, CDFA, and the ADFP. The survey was the first of its kind in that it was a large-scale study which focused specifically on women’s finances throughout the divorce process. We were thrilled that the survey reached over 1,700 participants across the US.

What to do with your engagement ring after divorce
What to do with your engagement ring after divorce

About the Study

The aim of the study was to understand the journey women face after divorce in reaching financial independence. To gain further insights, the study examined the age range of the women, their stage in the divorce journey and how their approach to household finances and career changed from before to after their divorce. Finally, the study explored to what extent women see their ring as a financial asset and how this can help them on the path to financial independence.

 

The Results

In general, the study found that many women find themselves in a financially vulnerable position post divorce due to a lack of financial knowledge (the financial literacy gap) and a lack of long-term financial planning.

After divorce, the main money-related fears women have  are living on one income, the cost of divorce, reentering the workforce and managing their finances alone.

After divorce, the main money-related fears women have are living on one income, the cost of divorce, reentering the workforce and managing their finances alone.


 

The study found that the solution to this is twofold: women must turn divorce into an opportunity to reinvent their careers in order to become self-sufficient and they must focus their efforts on investing to avoid outliving their money. A good way to create this ever-necessary financial nest egg is to see their engagement rings as financial assets that can be used to generate seed money.

A woman's profit from selling her engagement ring can serve as seed money for investments that will generate more money she can use in retirement.

A woman’s profit from selling her engagement ring can serve as seed money for investments that will generate more money she can use in retirement. This example is based on a $2,000 initial investment with $400 being added monthly and a 6% annual rate of return.


 

For a full breakdown of the results of our study, we invite you to read our white paper “Building a Financial Fresh Start: A Financial Study on Divorced Women”.

 

Worthy is committed to changing the conversation surrounding divorce and empowering women to embrace their fresh start. With more and more women seeing the importance of financial knowledge and reaching financial independence, our outlook is getting better every day!

 

Worthy is proud to present a recent study we conducted on women and finances after divorce. The study is based on our successful Wealth Warriors survey.
You may also like:

Leave a comment

Your email address will not be published. Required fields are marked.