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We used over 20 years of data to estimate differences in mothers' wealth across marital biography, following a marital first birth. Our study is the first to account for the selection of mothers into divorce or remarriage when estimating the role that marital history plays in wealth accumulation. Mothers who remained stably married to the biological father of their firstborn child reported greater wealth in their forties than mothers who divorced and did not remarry. Those who married at younger ages, women of color, and women from lower-income families were less likely to remain stably married. Net of selection, mothers who remained remarried had the same wealth as continuously married mothers. Thus the characteristics that predispose mothers to divorce, and not divorce per se, are linked to lower wealth. Once these selection effects were accounted for, we concluded that divorce was not necessarily detrimental to mothers' economic security, a new finding that contradicts past studies. [ABSTRACT FROM AUTHOR]

Highlights: [•] Foreign education is associated with lower wealth accumulation. [•] Race/ethnicity serves as an important stratifying factor for blacks and Latinos. [•] Little wealth inequality within racial/ethnic groups by nativity status. [Copyright &y& Elsevier]