According to the Pew Research Center, the divorce rate for those 50 and older has roughly doubled since 1990, far more than any other age group.
According to the study, divorces among those 40-49 rose 14%, but they fell by 21% in 25-39-year-olds.
Life expectancy has also risen, prompting more people to question whether their marriage or union is right for them over the long term. For a 50-year-old woman, her marriage might last another 30 years, possibly even longer, so it ups the stakes for those in unhappy marriages to find a better situation.
According to a December 2021 study published by the National Institutes of Health, women experienced a 45% decline in their standard of living, whereas men’s dropped by just 21%. The study says it “offers a cautionary tale about the financial aftermath of gray divorce, which is likely to contribute to growing economic disadvantage among older adults.”
That statement is supported by research from the Social Security Office of Retirement and Disability Policy, which found “around 20 percent of divorced women aged 65 or older live in poverty, compared with 18 percent of never-married women and 15 percent of widowed women. Differences in poverty rates are even larger at the oldest ages—22 percent of divorced women aged 80 or older are poor, compared with only 17 percent of never-married women and 15 percent of widowed women.”
Should you be in the midst of a divorce or contemplating divorce, contact the Law Offices of Renee Lazar at 978-844-4095 to schedule a FREE one hour no obligation consultation.