The rate of "gray divorce" — a term that describes divorce at age 50 and older — doubled from 1990 to 2019, according to a 2022 study published in The Journals of Gerontology.
The 'chronic economic strain' of gray divorceIn heterosexual relationships, gray divorce typically "has more negative implications for women than for men," said Kamila Elliott, a certified financial planner and co-founder of Collective Wealth Partners, based in Atlanta.
Altogether, women's standard of living declined by 45% following a gray divorce, while the drop for men was less severe, at 21%, Brown and Lin wrote.
These negative economic outcomes persisted over time, "indicating that gray divorce operates as a chronic economic strain," they said.
For example, let's say a husband is eligible for a larger Social Security benefit relative to his female spouse.
Persons:
Susan Brown, Lin, Kamila Elliott, Laura Tach, Alicia Eads, Natalie Colley, Brown, Elliott, Women shouldn't, Colley, I've
Organizations:
Gerontology, Bowling Green State University, Collective Wealth Partners, Cornell University, University of Toronto, Francis Financial, Social Security, Women, Collective Wealth
Locations:
Atlanta, New York