Why is there a rise in late life divorce?
As well as fractured relationships and infidelity, the rise in late-life divorce is also fuelled by women fed up with old-before-their-time husbands and a lack of excitement. Few of these women anticipate that their silver divorce will cost them all the home comforts and financial security they once took for granted.
Is the divorce rate rising in the US?
The divorce rate among the over-50s is rising. According to the Office of National Statistics, the number of ‘silver divorces’ has risen by three- quarters in the past 20 years, while the divorce rate among the rest of the population has fallen.
What’s the divorce rate in the over 50s?
Divorce rate among over-50s has risen by three-quarters over last 20 years But few wives anticipate their divorce will cost them their home comforts Every morning, Heather Durrant gazes at her beautiful home of 25 years. The carefully nurtured garden. The wide sweep of the dining room, perfect for entertaining.
What are the financial pitfalls of a divorce?
1. Not enough cash. Expenses will begin to mushroom as soon as the divorce process starts. Legal fees, court costs, therapist bills, new living expenses, and myriad other costs will drain your financial resources. Money previously used to support one household must now stretch to support two.
When did the baby boomers start to divorce?
The Baby Boomers, who started turning 50 in 1996, haven’t been quite so reluctant to divorce — either in youthful or mature marriages. That may explain, at least in part, the increase in gray divorce. In 1990, 5 out of 1,000 married people over 50 divorced. By 2010, it was 10 out of 1,000.
How many people go through divorce each year?
Each year, nearly 2.8 million men and women go through the emotional and financial trauma of divorce. During divorce, many women are concerned about financial survival—and with good reason.
Who is more likely to divorce after a short marriage?
And those in remarriages of less than 10 years duration are nearly 10 times more likely to divorce than those married 40 years or more (28.6 divorced persons per 1,000 versus 3.2 per 1,000). 3. Relative wealth can be a protective factor against gray divorce.