5 Financial Considerations of Gray Divorce
It’s a trend that accelerated as baby boomers set new standards for aging. Along with new standards for fitness and living and working longer, boomers set records for divorce. More people over 50 are getting divorced than ever.
People over 50 today account for a quarter of all divorces; people 65 and older make up 1 in 10 divorces. The gray divorce rate has roughly doubled since 1990, according to Bowling Green State University. Arnold Schwarzenegger and Maria Shriver had been married for 25 years. Actor Morgan Freeman was 71 when he divorced. Former Vice President Al Gore and his wife Tipper divorced after 40 years. Bill and Melinda Gates after 27 years.