Why are gray divorce rates rising?

On Behalf of | Dec 22, 2020 | Divorce

As part of an older couple, you have likely spent a big portion of your adult life married. But even older marriages do not always last forever. Over the years, divorce among couples in their 50s and over steadily increase.

But why is that happening? If you fall into this category, what tips and information should you keep in mind?

Changing times lead to increase in gray divorce

Business Insider takes a look at the steady increase in gray divorce rates. Experts suggest many factors have contributed to this spike. First, times change. In the past, divorcees often dealt with a crippling stigma. It may have prevented them from getting jobs or finding future partners. These days, divorce happens so often that almost everyone knows at least one divorced couple.

As the years go by, health and life prognoses improve, too. Your 50s is now considered midlife. You likely have decades ahead of you at this point. Many people choose not to live out the rest of their substantial potential lifespan with a partner who does not make them happy.

Unique hurdles you may face

But gray divorcees often face hurdles that younger couples do not. For example, it often takes your entire marriage to amass the assets you currently have. A divorce forces you to divide these assets, which can put a dent in your savings and alter your retirement plan.

It is also harder for long time married couples to get back on their feet after a divorce. Dependency on a spouse for so many years takes some time to readjust from. But if you decide this is the best option, you should not let age stop you.