Age plays a significant role in the odds of divorce. For those who are under 45 years of age in the United States, for instance, the divorce rate has been declining. Younger couples are more likely to stay together today than they were in previous decades.
However, for those who are over 45 years of age, the divorce rate has been going up. This is most significant for couples who are at least 65 years of age. Between 1990 and 2021, couples in this age bracket saw their divorce rate triple. It has been skyrocketing, in stark contrast to the downward trend in divorce rates for the average American.
Why does this happen?
There are numerous reasons why this happens. One is that perceptions and attitudes toward divorce have changed. Someone who gets divorced at 65 years of agemay have been thinking about it for 20 years, for example. But divorce was often the subject of a rather negative stigma for previous generations, so couples may not have felt comfortable moving forward with the divorce until more recently.
This is also a time at which there are many changes in life. Many couples have recently become empty-nesters, for instance, so they no longer have the distraction of parenting and they can consider if they’re happy in their own relationship. Couples who are 65 years of age and older are also approaching or at retirement age. They may find that they have a much different vision for what their retirement years will look like, which can lead to a divorce.
There can be many complexities when getting divorced at a later age, especially from a financial perspective. If you find yourself in this position, be sure you understand all of the legal steps to take.