Gray Divorce

 The kids have moved out, and the mortgage is paid. It's just the two of you now. So, is now the time to get divorced? 

Apparently so. The phenomenon of so called gray divorce has skyrocketed in recent years. So why are people married 30, 40, or even 50 years deciding to get divorced? There is no clear answer, but there are some factors that predominate. 

The fact that the children have moved out can be a significant factor. Children bind their parents together. Once they are gone, some of that glue can start to loosen. The prospect of being alone together for the rest of their lives can make some parties question their living arrangements. 

Financial considerations are another factor. As parties approach retirement age, their finances become more critical. Disagreements regarding how to manage can result in the parties deciding to separate. 

Finally, health issues can also be a factor in gray divorce. One spouse may have a debilitating illness, and the healthy spouse may not want to spend his or her remaining years caring for their partner.  

Regardless of the reason, a gray divorce is a devastating blow to most people. Losing half of their retirement assets may force some spouses to continue to work to make up the shortfall. The social aspect of gray divorce is also significant. Losing friends and family at a late age can lead to loneliness and  depression. It is important for a divorcing spouse to take positive steps to ameliorate these issues.

The bottom line is that the increasing trend of gray divorce is a serious issue for seniors.