We are continuing our discussion from our last post about the increasing number of divorces among Americans 50-years-old and older. A later-in-life divorce poses certain challenges, especially with retirement planning. And, unfortunately, the trend away from spousal maintenance in Illinois and elsewhere can mean a dramatic change in circumstances for women who spent part or all of their marriages at home.
It is no secret that the Baby Boom generation is nearing retirement. It is no secret, either, that the divorce rate among Americans age 50 and over is on the rise. Between 1990 and 2010, the divorce rate doubled for that population; one in four Boomer marriages failed. Welcome to the phenomenon known as "gray divorce."
In our last post, we talked about some of the issues older couples face when they get divorced. In this post, we wanted to back it up a little and find out just why older couples are divorcing.
The first of the baby boom generation are turning 65 this year. In Illinois, boomers make up between 20 and 25 percent of the population -- about the same as the U.S. If you look around your neighborhood or your workplace, try to figure out how many boomers you know have been married to the same spouse for 20 years or more. The numbers are dwindling, it seems, giving boomers a higher divorce rate than any generation in history.