Gray Divorce Continues to Increase for American Baby Boomers
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According to national statistics, the divorce rate for Americans over the age of 50 has doubled. Even more alarming, that data reveals that the divorce rate for Americans over the age of 65 has tripled. The growing trend of gray divorce is definitely one that the divorce attorneys at name of firm have seen an increase in. Let’s take a look at some of these stats.
The numbers show that 10 out of every 1,000 married Americans divorce. For married Americans 65 and older, six out of every 1,000 gets divorced. One of the main factors for this increase is due to the aging of baby boomers.
As the baby boom generation entered adulthood, divorce became more acceptable in society, leading to an explosion of unprecedented divorce rates. Not only was there a high rate of first marriage divorces, but this generation has experienced a spike in the divorce rate for second and third marriages. Many studies reveal that second and subsequent marriages often tend to be more unstable than first marriages and the number of divorces reflects that.
According to one major survey, for those adults age 50 or older who were divorced, almost half were now in a second or subsequent marriage.
One of the main causes of gray divorces cited by those survey participants was dissatisfaction in their marriage and the desire to seek independence and opportunities to fulfill their own interests. Approximately 35 percent of gray divorce participants had been married a minimum of 30 years before divorcing, while 12 percent had been married for 40 years or more.
The survey did find that older people who divorce struggle with financial issues more than people who are married or widowed. This is especially true for older women.
While the divorce rate for older Americans continues to increase, statistics also reveal that the divorce rate for younger Americans has significantly decreased. For those married adults between the ages of 25 to 39 years old, 24 in 1,000 divorce, a drop of 21 percent since 1990, when 30 out of every 1,000 were divorced. Researchers cite several reasons for this decline, including younger people delaying marriage, as well as more people obtaining college educations. There have been multiple studies which have concluded that couples who are college-educated tend to be less likely to divorce than couples who do not have a college degree.
Are You Considering a Divorce?
The revelation that so many second and subsequent marriages don’t work out for older adults reminds us that for those couples considering marriage, legal protections such as prenuptial agreements and solid estate plans are important issues to consider before taking another walk down the aisle.