The conversation about income levels and divorce often just goes one way: People assume that those with lower income levels are going to have higher divorce rates. The reason that they give for this is that earning less money creates a level of financial stress. It can also make other things, such as health emergencies, even more stressful.
And there is evidence that this type of financial stress causes divorce, to be sure. But there are also studies showing that those who have more wealth could actually have a higher chance of getting divorced. If they are not facing that same stress about making ends meet, why are their rates so high?
The first thing to consider is simply that making more money doesn’t mean someone isn’t living paycheck to paycheck. They could just have much higher expenses. They do earn a lot more money every year than those at lower levels of the corporate ladder, but they still face the exact same stress about trying to pay all their bills on time.
On the other side of the equation is the fact that greater wealth provides more financial security. If someone is living below the poverty line while they are married, they may want to get divorced, but it can be stressful to figure out how to create a viable financial future on their own. If someone is making $200,000 a year, they may not have to worry about this financial dependency, and then they can just choose the divorce.
Finally, many of those who have incredibly high earning levels also have quite busy lifestyles. They may travel the world for work. They could be in demanding professions that keep them in the office for 80 hours a week. They could be business owners who feel like they never get any time off. This is what it has taken to get them to their economic level, but that doesn’t mean that it has made their marriage strong.
Getting a divorce
If you and your spouse do decide to get a divorce this year, having more assets may just make it more complicated. Be sure that you know exactly what steps to take.