Monday, October 7, 2013

Matching Millionaires

I have seen the tv commercials for,, and

A recent study I saw indicated that one-third of marriages in the U.S. begin with online dating.

Therefore, it is probably not surprising that there is also a dating site for millionaires,

What was surprising to me was that the site lists more than 2 million singles.

Another recent study I saw indicated that there are only about 9 million American households in the U.S.  This would seem to indicate that a substantial number of the nation's millionaires are on or there are a lot of make-believe millionaires looking for a few real millionaires on the site.

I guess it comes down to the fact that if I bend the truth on my height and weight on these dating sites why not go a little further a fudge a little on my net worth as well?

You might ask why a happily married man came across  I came across this report on a survey by the site which explored the dating preferences of millionaires.

It seems that the vast majority of the millionaire men, 79.6% according to the survey, are seeking non-millionaire women.  However, 84.5% of the female millionaires want to date another millionaire.

Darren Shuster, a spokesman for said that the results of the survey surprised them.
“We were very surprised to learn that the great majority of our male millionaire members sought non-millionaires,” said Shuster. “It seems that financially independent men want to share their wealth with those less fortunate. With women, the story is much different.”
The female millionaires made it clear that they are not looking to use their money to take care of someone else.  However, the men seem to want to find someone they can take care of.

The women are also much more likely to be careful in protecting their money if they enter a marriage.
Eighty-two percent of the female respondents said they would insist on a prenuptial agreement, while only 17.4 percent of the male respondents would do the same.
This survey reminded me of my post from earlier this year, Degree Dearth=Date Dearth. In that post I wrote about the significant imbalance in educational attainment in our country between women and men.

60% of the college graduates this year will be women.  Only 40% will be men.  This seems to be having profound impacts on dating and marriage.

Women have historically tended to date and marry men of at least equal educational attainment and socio-economic status.  That is becoming an increasingly difficult goal for women.

The millionaire survey indicates that these attitudes are very much entrenched in women.  Even women who are financially secure are not looking down the economic chain.  They still want to marry up, or the very least, to marry someone of the same economic status.

I don't pretend to understand women or all the complexities in male-female relationships.  However, I do understand numbers.  With ever increasing numbers of well-educated and successful women relative to men, there are going to be a lot of available single women around unless women start revising their expectations.

Or the men start upping their game.

If you want to delve deeper into this subject of gender economics you might want to read this article by Sandra Tsing Loh from The Atlantic (September, 2012) entitled "The Weaker Sex" which points out that in nearly 40 percent of American marriages today, the wife already earns more than the husband.  The article's header summarizes the article this way,

"How the new gender economics has more and more professional-class women looking at their mates and thinking: How Long Until I Vote You Off The Island?"

Credit: Wesley Bedrosian, The Atlantic

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