Baby Boomers and divorce is not typical when you think of divorcing couples. Although many people look at older couples as being far more stable than the younger set, this isn’t always the case. In fact, married individuals who are over 50 are getting divorced at a much greater rate. This can leave many people wondering more about baby boomers and divorce and its many impacts.
How Common is “Grey Divorce?”
In 1990, it was estimated that only 10 percent of couples that were going through a divorce were 50 years old or older. This number has increased significantly over the last 20 years and Baby Boomer divorce doesn’t seem to be slowing down any time soon.
Why There Has Been an Increase in Over-50 Divorce
There are many reasons why couples choose to end things after years of marriage. In some cases, individuals in a marriage find that things aren’t working and that they don’t want to be trapped in a relationship that isn’t fulfilling. Marriages can suffer over the years, particularly when both parties have been busy working, taking care of a house and raising children.
Some couples realize that they want to go in different directions, and it is common for individuals to find separate interests later in life. Although there are countless reasons why older couples are getting divorced at a greater rate nowadays, divorce can have a major impact on all parties involved (including grown children).
The Advantages and Disadvantages of Baby Boomers and Divorce
Dissolving a marriage later in life can have both advantages and disadvantages. For couples who simply aren’t happy, divorce can be a positive thing, regardless of age.
A lot of financial-related setbacks can go along with Baby Boomer divorce, however. For couples that planned for retirement as a married couple, things can go awry after the split. Two individuals retiring and living separately is a lot more costly than a couple retiring and living together, and many couples find that they must wait to retire or live much more frugally than they had originally planned.
Tips for Making it Through “Grey Divorce”
Divorce is never easy, and this is particularly true when it comes to dissolving a marriage that has been intact for many years. However, there are things that individuals can do to make getting through an over-50 divorce a lot easier.
- Talk to a financial adviser about retirement planning.
- Hire a qualified divorce attorney. It is generally best to hire a lawyer who has experience in handling divorces between more stable couples with more money and assets.
- If possible, consider going to marriage counseling or talking to a mediator. In some cases, marriages can be saved. In others, it is best for both individuals to be as amicable as possible so that both parties can leave the marriage in a better situation.
It is essential to talk to adult children about the divorce. Even though they are no longer young, they will still feel the impact of the dissolution of their parents’ marriage.
Baby Boomers and divorce might not be an easy thing for a lot of people to understand, but it is essential to realize that it is becoming increasingly common in today’s world. However, understanding more about it and the effects that it can have can help affected individuals get through a rough situation.