Financial Considerations in Grey Divorce: Preparing for Your Next Chapter
The phenomenon of “grey divorce” – the termination of marriages among couples aged 50 and older – has doubled since the 1990s. While ending a long-term marriage is emotionally challenging at any age, the financial implications for older couples can be particularly complex and far-reaching. Here’s what you need to know to protect your financial future when navigating a grey divorce.
Understanding the Unique Challenges
Unlike younger couples who have time to recover financially, those divorcing later in life face distinct obstacles. Retirement accounts must be divided, Social Security benefits reconsidered, and healthcare costs carefully evaluated. With fewer working years ahead, the margin for financial error is significantly smaller.
Resources
United States Resources
Canadian Resources
Citations
- Brown, S. L., & Lin, I. F. (2012). The Grey Divorce Revolution. Journals of Gerontology: Social Sciences.
- Marziali, E. (2015). Financial Impacts of Late-Life Divorce. Journal of Aging Studies.