You often hear people note that financial troubles spur divorce cases. There is definitely some truth to that. A couple that is facing a lot of debt or having trouble making ends meet is a couple that will face extra stress. That can take a toll and it can end marriages.
So, is the key to marital bliss just to be financially successful? Is that how you protect yourself from divorce?
It is not. In fact, some say that earning more may increase the odds of divorce. There is potentially a middle ground between being poor and being rich, but being wealthy certainly doesn’t insulate you from this reality.
For example, the way you choose to spend your money still has an impact on your stability. Say you make $500,000 per year. You shouldn’t be living paycheck to paycheck, but you might be. People often just increase their standard of living. If you buy the biggest possible home you can afford, brand new cars, and everything that goes with that lifestyle, you can still have financial stress. You have more assets, but you’re facing the same type of financial issues as a couple earning far less money.
Plus, if you do decide to get divorced and you’re in a relatively high-income marriage, it may be far more complex. You have many more assets to divide and one of you may not work at all, bringing up support questions for children and the other spouse. Don’t think that you reach some magical level of income where things stabilize. Instead, focus on understanding your rights during a divorce.