Divorce statistics for the most recent decade have upended what people believe about modern divorces. Although Millennials seem to get married at lower rates than the generations before them, they also have a lower divorce rate. On the other hand, older adults seem to be filing for more divorces than they did in the past, which can have a considerable impact on their finacial stability and plans for retirement.
The rise in gray divorce brings with it unique considerations for those getting close to retirement age. Whether you have already divorced and find yourself worrying about your spousal support or child support obligations after you move to a fixed income or you want to divorce but worry about the impact on your retirement, educating yourself about your rights can help you make better decisions.