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Being Single Is Making You Poor

La Crosse, WI, United States / Magic 105

Engagements, weddings and baby gifts aren’t the only financial hits singles take. Statistics show singles are more likely to earn and save less (they also don’t reap the benefits of tax breaks and shared housing costs like couples).

According to a study from economists James Poterba, David Wise and Steven Venti in 2012, those who were in the 90th percentile of wealth aged 65 to 69 have $898,000 worth of assets compared to their single counterparts, who only had $380,000 in the same demographic but were single.

Double incomes are a no-brainer for people interested in wealth, especially in their later years. If you haven’t found your person yet, here’s hoping you will.

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