List two reasons why the economic situation of women tends to become more precarious after divorce whereas men’s tends to improve.

Question

What will be an ideal response?

Answer 1

Income is the inflow of money over a period of time. Wealth is the value of assets held at a point in time. One year’s wages, interest, and dividends, such as might be reported on a federal income tax return, are examples of income. The values of real estate, bank accounts, and stock shares someone owns on, say, December 31, 2019, are examples of wealth.
Wealth, in a sense, is nothing more than accumulated income (assuming, of course, that income is not spent, but saved). True, but this underestimates the significance of wealth as a distinct dimension of class inequality. Income allows us to meet our daily necessities. Wealth enhances what Max Weber called “life chances” in more basic ways. It provides safety net protection against a sudden drop in living standard in the event of job loss or other emergency. Most families do not hold significant wealth and would be in difficult straits if they missed 1 or 2 months’ paychecks. Wealth can be converted into home ownership, business ownership, or a college education.