Did you know that the divorce rate for those who are over 50 years old is going up? This is often referred to as gray divorce, and its popularity has been rising in the United States. This is interesting because the divorce rate is going down for couples that are in most other age groups.
When looking at reasons why the divorce rate is going up, one potential reason that is sometimes cited is that these couples become empty nesters. This is when their children move out of the house and go to college, get married or buy their own homes. Why would this increase the odds of getting divorced?
What sometimes happens is that couples begin drifting apart during their marriage. They don’t realize that it is happening because life is busy and children are distracting. But when their children finally move out of the house, it becomes clear that they’re just not the same as they were when they got married. The relationship has changed. For some couples, this means it’s time for divorce.
Additionally, this is a time when couples may start carefully considering how they want to spend their remaining years. Some want to retire and relax at home. Others want to travel the world. Still others want to continue working. Couples reassess what they want out of life at this stage – after they are done raising children – and they sometimes find that they want different things.
Divorce can be complex for those in this age group, especially when considering dividing retirement assets and other financial accounts. Couples who are getting a divorce need to know about all the options at their disposal.