Gray divorce is on the rise — but for many women, the prospect of leaving a marriage is daunting. Take the hypothetical case of Susan, a 62-year-old who wants to divorce her husband after almost 35 years of marriage. However, she hasn't worked since 2020, when her job was made redundant.
Since then, her husband has supported her, and he's the sole title owner of their house. She also relies on his health insurance and won't qualify for Medicare until she turns 65. Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers.
Here's how Robert Kiyosaki says this 1 asset will surge 400% in a year and begs investors not to miss this 'explosion' Dave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake — here's how to fix it ASAP Prior to that, Susan made a steady salary. Over the years, she's amassed $1.2 million in investments, but those assets are not liquid, and she's not ready to tap into her retirement savings just yet. She knows she's likely entitled to a share of marital assets, but she's worried it won't be enough to support living on her own.
She's also wondering if she should claim Social Security at 62, even though it would mean a permanently reduced monthly benefit. Gray divorce — or divorce after 50 — is on the rise. Divorce rates among those 50 and older have roughly doubled since the 1990s, according to the Pew Research Centre (1).
Of those, 34% had been married for at least 30 years, and 12% for at least 40 years. Research from the Pew Research Center suggests that many later-life divorcees become dissatisfied over time and seek greater independence and opportunities to pursue their own interests. But gray divorcees — particularly women — tend to be less financially secure than married or widowed seniors.
Gray divorce not only increases expenses (two households instead of one), but can also change tax situations, estate plans, and retirement security. Women are significantly less likely than men to have saved $250,000 or more in total household retirement accounts, according to the Transamerica Center for Retirement Studies. Additionally, about 22% of women and 15% of men have saved less than $10,000 or nothing at all (2).
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