Psychographic Profile of Divorcees

Goals

Develop a psychographic profile of Americans who are asset rich but cash poor and want protection from a divorce, child support litigation, or spousal maintenance litigation. Identify their values, opinions, attitudes, interests, and lifestyles.

Early Findings

Profile of Divorcees

  • 57% of divorced adults are women and 71% of divorced adults are white.
  • Between 1990 and 2010, the divorce rate among individuals 50 and older doubled.
  • The probability of divorce is over 75% for people who run family businesses.

Profile of the Asset-Rich but Cash-Poor

  • Millions of retirees that are homeowners have their wealth concentrated in their houses and a very low income.
  • Farmers often have equipment and land worth millions of dollars, but little income and difficulty liquidating their assets.
  • Between 2013 and 2016 the net farm income fell by half.

Divorced and Asset-RIch but Cash-Poor

  • People who divorce after retirement are likely to struggle significantly with loneliness.
  • For many farmers, having a supportive and engaged spouse is an important element to the success of their farm, which makes them less likely to sign a prenuptial agreement.
  • Furthermore, older prenuptial agreements for farming couples are less likely to hold up in court because the nature of their assets is likely to have changed greatly.

Profile of Farmers

  • In a survey, 75% of farmers reported that someone they know has been affected by opioid addiction and 25% of farmers themselves had struggled with opioid addiction.
  • 86% of principal farm operators are men and farmers are most representing in the 55 to 64 age group.

Proposed next steps:

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