You need to decide that no one is going to take care of you financially and accept the fact that that responsibility falls solely on your shoulders. This goes for both men and women! This thinking is required since at some point in their lives most adults will be managing their money on their own because they are unmarried, divorced, or widowed.
Single is defined as adults who have never been married, are divorced or are widowed. There are 110 million people in the United States who are single, and that means over 40 percent of adults are single. Fifty-three percent are women and 47 percent are men. For every 100 single women, there are 88 single men. A growing number of single Americans are living alone, and they make up one quarter of all households.
Of the singles, 60 percent of them have never said "I do." Twenty-five percent of singles are divorced. About half of first marriages end in divorce, and 40 percent of those end within 10 years.
Half of all couples have a spouse die, and this often occurs before one is 62 years of age. Seventeen percent of singles are widowed, and 18 percent of singles are 65 years or older. To cope with these life events, all men and women must start in their twenties-by themselves—to take actions to create a successful financial future. Smart people should always think single!
Marc has 36 years in financial services and 6 years in teaching.
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