Tuesday, April 23, 2013
The financial position is not so good for single people.
This research is from the US but I have no reason to suppose that the UK is that different.
The bottom line is that the financial robustness of single people is far less than their married/cohabiting friends. The table shows the difference in financial savings for each percentile.
Why is this the case? The author of this excellent blog posting reckons it might result from divorce, not having the economies of scale that two people enjoy and the fact that a partner died and hence did not make their financial contribtion. My money is that divorce causes the most significant financial dilution of assets.
Whatever the reason the message is clear. Marketing to couples is going to be easier than their single peers. Dick Stroud