While the overall divorce rate in Massachusetts and across the United States has declined and stabilized since the 1980s, divorce among individuals over the age of 50 is on the rise. In fact, statistics show that divorce rates among older couples doubled between 1990 and 2010. Experts say the phenomenon, known as "gray divorce," impacts the financial security of women more than men, and women divorcees should take protective measures to ensure that they enjoy a stable retirement.
Gray divorce can be more financially devastating than divorces that happen early in life because there is less time to regain a financial footing. Women who divorce after 50 can be especially susceptible to financial issues, especially if they stepped away from their career to be a stay-at-home parent. Studies show that 27 percent of women who divorce after 50 live in poverty, compared to 11 percent of men in that age group.