The marriages of California couples older than 50 might be less likely to last than in previous decades. The divorce rate among older couples has doubled in the last two decades, and this could mean additional difficulties for people who have not participated in managing the household finances.
According to a report by UBS Global Management that looked at couples and divorced or widowed women with $250,000 or more in investable assets, the tendency for men to fall into the traditional role of handling investments occurs across generations. More than 60 percent of millennial women and 54 percent of baby boomer women said they did not make the investment decisions in their relationship. The study also found that significantly more men than women were confident in their knowledge of investment and that a majority of parents with children under 21 with comfortable with the idea of letting their daughter's hypothetical husband handle the marital finances.