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Author: Baurac, Deborah Rissing
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Baurac, Deborah Rissing |
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Marriage Gives Women a Wealth Advantage Chicago Tribune, August 11, 1999, Section 8 WomanNews; Page 3 Cohort(s): NLSY79 Publisher: Chicago Tribune Keyword(s): Assets; Gender; Savings; Wealth Permission to reprint the abstract has not been received from the publisher. Younger female Baby Boomers tend to have more wealth than their male counterparts, according to a new nationwide survey. Research scientist Jay Zagorsky of Ohio State University's Center for Human Resource Research found that young women's accumulated wealth--assets such as a car, home, savings and 401(k) accounts, minus debts--averages $141,710. Young men's average wealth is $134,511. That may buy a smile for women, but smugness won't pay. The difference is because respondents gave combined data for themselves and their spouses, Zagorsky says. "Females tend to marry older men, usually by about four years. So their older spouses got four more years to save." For 10 years, Zagorsky followed 6,800 adults, born between 1957 and 1964, beginning when they were in their 20s. He learned that young people increase their net wealth by about $2,400 each year and most do so without payoffs from playing the stock market. Also, in 1998, financial assets--savings, CDs, stocks, bonds, IRAs--averaged $7,900 for both genders. |
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Bibliography Citation
Baurac, Deborah Rissing. "Marriage Gives Women a Wealth Advantage." Chicago Tribune, August 11, 1999, Section 8 WomanNews; Page 3. |