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Breaking up in old age can be costly, especially for women.
The rate of “gray divorce” — a term that describes divorce at age 50 and older — doubled from 1990 to 2019, according to a 2022 study published in The Journals of Gerontology. It tripled for adults over age 65.
In 1970, about 8% of Americans who divorced were age 50 and older. By 2019, that share had jumped to an “astounding” 36%, the study found.
About 1 in 10 people — 9% — who divorced in 2019 were at least 65 years old.
Meanwhile, rates of divorce have declined among younger adults, according to Susan Brown and I-Fen Lin, sociology professors at Bowling Green State University who authored the analysis.
The ‘chronic economic strain’ of gray divorce
In heterosexual relationships, gray divorce typically “has more negative implications for women than for men,” said Kamila Elliott, a certified financial planner and co-founder of Collective Wealth Partners, based in Atlanta.
Studies suggest women’s household income generally drops between 23% and 40% in the year after a divorce.
The economic effects are “less severe” for men, with some studies showing their income may even rise after a breakup, according to Laura Tach and Alicia Eads, sociology professors at Cornell University and the University of Toronto, respectively. The duo have co-authored several papers on the topic.
Those financial disparities seem to be more muted for younger generations of women due to a greater likelihood of them working relative to older cohorts, experts said. Many older adults who divorce today adhered to the traditional notion of a man as a household’s sole breadwinner, they said.
“We’re seeing women in divorce today who are of the generation where they just didn’t work their entire life,” said Natalie Colley, a CFP based in New York and senior lead advisor at Francis Financial.
Women also tend to earn lower incomes than men due to a persistent wage gap; they tend to have less savings, and…
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