Always an adventurous generation, more and more people born during the Baby Boom years between roughly 1946 and 1964 are calling it quits on long-term marriages. Why? Research cites several reasons.
A well-known research paper from the National Center for Family and Marriage Research at Bowling Green University cites a number of facts about divorce over 50, or so-called gray divorce, including:
- The United States has the highest divorce rate in the world.
- In the period between 1990 and 2010, the rate of divorce of people more than 50 years of age doubled.
- In better health than previous generations and with the prospect of a longer life span, many individuals are no longer willing to stick out a loveless marriage with little or no intimacy. Longer life means a longer period of time to decide to divorce.
- As women occupy a larger part of the labor force, economic independence gives women the ability to leave an unsatisfying marriage relationship.
- Changes in life, including retirement, grown children and less income, give spouses food for thought on changing the whole picture while they still can.
While divorce over 50 may be more common, it is not without its pitfalls. An acrimonious divorce can drain accumulated wealth from both parties when they have fewer years to financially recover. On average, those divorcing over 50 experience a lower quality of life and may need to create novel arrangements to pay bills or obtain needed care in older age.
If thinking about divorce at any age, but especially over 50, carefully consider mediation as a measure to allow you and your former spouse to save and enjoy the wealth you accumulated. When you need experienced legal advice in Connecticut, speak with an attorney with our firm.