Press

April 17, 2024

While divorce is emotionally challenging for all parties involved, the financial ramifications hit women especially hard. Research underscores the harsh reality that many women struggle to fully recover financially, post-divorce.

This is especially true of gray divorces. Divorcing men ages 50 or older see their standard of living drop by 21%, but women’s plummets by up to 45% after separating.

These statistics sum up the gap that results from income inequality between spouses after the divorce process. While we have heard about the gender gap and wage gap for decades, the divorce gap is just starting to get the attention it deserves.

Several factors contribute to this disparity. Women often accrue lower lifetime earnings due to the wage gap as well as career interruptions. Women are more likely than men to stop working to take care of children or other family members. Extended gaps in a resume can also impede career advancement opportunities, as employers may hesitate to hire individuals with prolonged periods without work.

Read full article here.