Researchers from Bowling Green University came out with a new study showing that divorce rates among the baby boom generation continue to rise.
The divorce rate for people over 50 has more than doubled over the past 20 years. It is not clear if anyone single factor is contributing to the higher rate, but experts say that longer life spans and more second marriages could have something to do with it. Divorce rates were higher among boomers who were in their second or third marriages than those who were in their first marriages.
Some couples say that after many years together, they just had to face facts that they didn’t want to stay married. One former couple who had been married for 37 years said that they struggled to make their marriage work, and have both been happier since they chose to divorce. They remain friends and still live near each other, saying that the divorce was amicable and resulted in a better situation for the whole family.
For older couples who no longer have children in the house, dividing assets such as a jointly own home and retirement accounts are often the bulk of the work of a divorce. It’s important to carefully consider how to handle retirement assets for a divorce later in life, so that each spouse is still able to retire as planned and live comfortably.
Source: CNN, “Baby boomer divorce rate doubles,” Greg Clary and Athena Jones, June 24, 2012.