For women of financial means, the decision to embrace love while eschewing marriage becomes a prevalent choice in later years. The notion of “to have and to hold” loses its allure for many older women, particularly those with financial independence. This shift reflects evolving societal norms and the empowerment of older women to shape their relationships on their terms.
The article delves into the stories of women who, despite their financial stability, opt not to legally bind their assets through marriage. With approximately 22 million households in the United States having a net worth of $1 million or more, a significant portion is headed by women, most achieving this milestone by the age of 58.
The changing landscape is attributed to the first generation of women accumulating substantial wealth in 401(k) plans. Lynn S. Evans, a client relationship manager at Fidant Wealth Partners, highlights the question these women face: “Why would a woman want to give that up in the name of being married?”
Financial considerations, including Social Security benefits, retirement benefits, alimony payments, and inheritance, play a pivotal role in the decision-making process. Older couples are increasingly embracing alternatives like Living Apart Together (LAT) arrangements, choosing companionship without the legal entanglements of marriage.
The article features personal narratives of women who have navigated divorce, widowhood, or singlehood, emphasizing the importance of financial independence. These women value their ability to make individual decisions, safeguard assets, and maintain control over their financial future.
While the article acknowledges that there is a strong financial case for young couples contemplating marriage, it recognizes that for older couples, the debate involves a nuanced consideration of love, financial autonomy, and practicality. Ultimately, these women prioritize the richness and stability of their lives over conforming to traditional marital expectations.