As the years progress, divorce seems to make itself more and more of a commonality among the populace. More people accept divorcees, and fewer divorcees find themselves facing the same discrimination as they may have in the past.
This is one of many reasons why grey divorce is on the rise lately. But what exactly is grey divorce, and what does it mean for divorcees?
Potential hurdles unique to grey divorce
Forbes takes a deeper look at the increase in grey divorce in America. This is a term that refers to divorce in couples aged 50 and over. Other terms you may hear include “silver splitter” or “diamond divorce”; they all refer to the same thing.
Grey divorcees refer to the individuals who are going through the divorce. They often face unique hurdles compared to younger divorcees. For example, they struggle more when it comes to dividing assets, due to having more time to accumulate them. Joint assets often provide a problem for the same reason. This is even more true when it comes to retirement funds. After all, a younger couple is nowhere near as close to retirement age and thus have more time to get back on their feet after a divorce.
The benefits grey divorcees enjoy
Despite these potential risks and hurdles, grey divorcees continue to end their marriages at increasing rates. Benefits that some cite include being able to let go of old marriages and move on in life, with many grey divorcees finding second spouses. They also enjoy the freedom of acceptance that this current societal view of divorce brings with it. In the end, it is up to each individual to decide if that is worth the potential downsides.