That’s a huge disparity, and while the gap is a little surprising, the findings are not.
The article on MarketWatch does a pretty good job of explaining why. Here’s the paragraph that hit home for me:
“Why are wealthy divorced women more likely to decide to remain single? “It’s much harder for divorced males to be alone than females,” says Fran Walfish, a psychotherapist in Beverly Hills, Calif. Unlike men, she says, “a woman’s ego cannot bear to tolerate a man using her for her money. She needs to know she is loved–rich or poor–flaws and all.”
Women need to learn to respect lower-earning spouses the same exact way men do – for their character, kindness, warmth, attractiveness, and support, instead of looking down on them.
As a dating coach for smart, strong, successful women, I’ve seen this up close, and think that this is a genuine obstacle for women to overcome. I’ve written a lot about gender, money, and equality, and believe that the entire point of having money is that it gives you the freedom to marry for love rather than security. This is what wealthy men do. Male millionaires (smartly) don’t seek out female millionaires because, to them, it doesn’t matter what she makes. All that matters is how she makes him feel: appreciated, accepted, adored.
Female millionaires – despite being equal to their male counterparts – have a huge block against dating a man with less money. Where men take delight in picking up dinners and vacations for their lower-earning spouses, women become resentful that their spouses can’t carry their weight. Which is pretty silly when you are a millionaire with the means to do whatever you want. Women need to learn to respect lower-earning spouses the same exact way men do – for their character, kindness, warmth, attractiveness, and support, instead of looking down on them. Until they do, they’re going to remain single, surrounded by money, surrounded by friends, but without a significant other to share the ride.
Like many women – the risk is not worth the potential reward.
My 67-year-old mom – who I recently visited with my family – has absolutely no desire to date, despite the profession of her son. She likes her friends, her card games, her home improvement projects, her grandkids, her dinner parties, her travel, etc. Of course she does. But, in a rare moment of candor, she confesses to me that she’s lonely, and I continue to wonder why she chooses solitude over partnership. To her – like many women – the risk is not worth the potential reward.
Yet to 83% of divorced millionaire men, the risk IS worth it. Which is why those men don’t stay on the market very long. So while I really don’t judge anybody’s life choices – whatever makes you happy – I do find it curious that men are so much more willing to spend their money on partners and take the risk of getting hurt.
Your thoughts below are greatly appreciated.