Should Millennials (and you) refuse to get married?
Let financial advantage be your Valentine
Millennials who refuse to get married are saying “I don’t” in record numbers, radically changing a stumbling institution.
According to some wide-awake experts at Massachusetts’ Bentley U, traditional marriage has been on a downward trajectory for generations. Among Millennials – the oldest are now 40 years old — the ancient horse and carriage are no longer viable in today’s urban environment.
Cohabitation is more common among Millennials than GenXers across most racial and ethnic categories.
Lecturer in Natural and Applied Sciences Clarissa Sawyer, says that the Millennial marriage trend has its roots in education. Sawyer says…
“Women around the world are getting married later and part of that is because women are getting more educated and investing in their careers. They’ve invested a lot of time and money into college, so they’re getting a job and delaying marriage — if not opting out completely.”
Refuse to get married? Tragedy awaits
Gender aside, a college diploma isn’t necessarily replacing a marriage certificate. Millennials with a bachelor’s degree or more are marrying at a higher rate than those with less education — but not having children.
In Sawyer’s own family, her 31 year old son and his live-in partner of seven years are not married and don’t plan to have kids.
Boston Globe columnist Tom Keane says threateningly that if you refuse to get married, you could be in trouble. In his column Keane says…
“Not getting married at all could prove tragic.”
Tragic it may be, but it seems unlikely to be as tragic – or as damaging to others – as many marriages.
Tax rates, eligibility for entitlement programs, and the availability of social safety nets are all affected by marital status. If people are choosing to get married at all, it’s for financial reasons.
Refuse to get married? Accumulate assets instead
Sawyer believes that many Millennials are hesitant to marry due to the threat of divorce. She says…
“Getting married is often perceived as a risk so Millennials tend to cohabitate and get financially stable before moving forward.”
Business Insider reported that fear is leading Millennials to marry later “as they take time to get to know their partner, accumulate assets and become financially successful.”
As the oldest among Generation Z approach their mid-20s, they share similar views on marriage as Millennials. Will Millennials and GenZ usher in a new era that marriage by allowing it to evolve? Woke as it may seem, they just might.
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