Stacy Francis Featured by Kiplinger on the Financial Impact of Rising Divorce Rates Among People 50+
By: Francis Financial
April 12, 2021
Stacy Francis, President and CEO of Francis Financial, was recently featured by personal finance advice publisher Kiplinger. Francis’ article focuses on the rising rate of “gray divorce”. Gray divorce, or the divorce of adults ages 50 and older, has doubled since the 1990s. Francis breaks down the societal factors that are affecting the divorce rates of older individuals and their financial implications for women.
Francis says that women are feeling more empowered and attitudes around divorce are relaxing, leading more women to consider divorce as an option. In addition, with the advance in medical technologies that lead to longer life expectancies, women are living well into their 80’s and 90’s. “This ups the ante for those in unhappy marriages and may prompt them to question whether they can put up with their spouse for that much longer,” Francis explains.
Two other scenarios Francis highlights are postponed and repeat divorces. With postponed divorces, couples are waiting until their children are grown. Repeat divorces are subject to a lower success rate. “The divorce rate for people over 50 who have been married more than once is 2.5 times higher than those who have been coupled with the same person throughout their life,” Francis says.
Avani Ramnani, a Certified Divorce Financial Analyst with Francis Financial, shares that to protect their financial security, women of all ages (and especially those over the age of 50) should speak with a fee-only, fiduciary financial advisor to help with retirement planning and other financial strategies.