Authored by Anne Johnson via The Epoch Times,
Gray divorce refers to divorce among adults ages 50 and over. And although divorce among younger adults has been declining over the past 15 years, according to Pew Research, gray divorce is on the rise.
Gray divorce is becoming more common, and its financial impact can last well into retirement. New Africa/shutterstockAlthough any divorce can be financially difficult, gray divorce is especially hard on retirement because it halves accumulated savings. It can also double living expenses by creating two separate households. The danger of a gray divorce is that, unlike a divorce in your 30s where you have time to make up for the financial loss, there is little time left in your 50s or 60s to rebuild wealth.
Prevalence of Gray Divorce
According to a study published in The Journals of Gerontology by Susan L. Brown, the gray divorce rate was low and grew only modestly between 1970 and 1990 before doubling by 2010.
The study found that, although the divorce rate has stagnated among middle-aged adults, it continues to climb among older adults.
In 2022, 36 percent of U.S. adults who divorced were aged 50 or older. The only group with an increasing divorce rate was found to be adults aged 65 and older.
According to Barnes Family Law, divorce among couples 65 and older has tripled since 1990 and is expected to grow by another one-third by 2030.
