Study Finds Women More Frequent Initiators of “Gray Divorce”, but Why is That?

“Gray divorce” can likely safely be considered a trending topic this fall. A term and concept once unknown or foreign to many people, gray divorce is now becoming normalized in America today. The concept of a gray divorce is not one that is too shocking – simply put, gray divorce is a term coined for the divorce of a couple when they are aged 50 years old or older. However, perhaps more surprising is recent data that shows that gray divorces are predominantly initiated by women. But why are women prone to initiating gray divorces more than men? We explore the reasons for why women may initiate gray divorces more frequently than men here.

The Rise of Gray Divorce Initiated by Women in Chicago and Throughout the U.S.

According to a MarketWatch Online report, based on data from a study on gray divorce conducted by AARP, one of the reasons that women initiate gray divorce more frequently than men has to do with the financial picture of women today. In the past, women were more prone to be financially dependent on their spouses, leading them to initiate divorces less frequently than today. Today, “a lot of it has to do with independence and feeling financially secure,” director of wealth management for Schwab Wealth Advisory and the Schwab Center for Financial Research states to MarketWatch. “It’s not like the stereotype of other generations when the woman was financially dependent on the man and had no choice but to stay.” In addition, women may initiate gray divorce more frequently than men because “Finances are not as important as happiness,” Renee Hanson of Ameriprise Financial notes to MarketWatch. “They say ‘I have a new level of financial status that I’m willing to accept in order to be happy.’ Women are becoming more educated with their finances than ever before. They’re also making changes to maintain a quality of life that supports their level of happiness.”

Finally, the numbers may speak the loudest when it comes to the picture of gray divorce in America today. According to the AARP study, in 66% of gray divorce cases, women are the initiator of the divorce. However, after a gray divorce, 27% of women live below the federal poverty guidelines, contrasted with only 14% of divorced men.

Help with Your Divorce in Chicago

No one should have to go through the intense and complicated Chicago divorce process alone. Whether you are seeking a divorce later in life, like a gray divorce, or you are simply just curious about your rights and options in your Chicago divorce, the best resource to turn to is an experienced Chicago divorce lawyer. The experienced Chicago divorce lawyers at Birnbaum Gelfman Sharma & Arnoux, LLC offer a confidential consultation to learn about your divorce case and to see if they can help fight for you. Contact the experienced Chicago divorce lawyers at Birnbaum Gelfman Sharma & Arnoux, LLC and speak to a lawyer about your rights and options in your Chicago divorce case today.

Source:

marketwatch.com/story/gray-divorce-is-most-often-initiated-by-women-even-though-it-can-crush-their-finances-4329540d