Married couples who are older than the age of 50 are more likely to get a divorce today than they were 20 years ago. In fact, their chances of divorce have doubled. Many are surprised by this statistic because they think, “If we lasted this long, how come we can’t keep this relationship going a little bit longer?”
The truth is that societal perceptions about marriage and relationships have changed. Plus, with seniors living longer than ever, many are looking forward to longer lives after the age of 50, and they want to enjoy those lives to the fullest capacity.
Simply put, 50-plus couples are choosing to end their marriages these days because they understand that life doesn’t have to be about suffering. Life can be about seeking joy and through positive, balanced and supportive relationships. These are the children of the 60s who might value “peace and love” a little bit more than their predecessors. Additionally, once a couple passes the age of 50, their children are starting to move out of the house, and they’re forced to come to terms with the aspects of their marriage that just don’t work anymore.
When couples choose to divorce later in life, they tend to have more assets that they share together. This can make the financial aspects of the divorce more complicated to navigate. There could be multiple homes, investment accounts, retirement accounts and other aspects that they need to divide.
If you are getting a divorce after the age of 50, make sure that you fully understand your financial situation and how the end of your marriage will affect it.