Illinois residents who may be getting divorced may sometimes feel alone and as if others would not understand their situations. However, this is far from the truth. In fact, a new study from the Pew Research Center shows that people over 50 are actually experiencing even more divorces now than they were 25 years ago.
In 1990, the rate of divorce for people over 50 years of age was five per every 1,000 persons. By 2015, that number had doubled to 10. What may surprise people even more is that the 2015 divorce rate for people 65 years old and beyond was three times higher than it was in 1990. What may be influencing these jumps? In looking at the generation of people now in this age group, it is seen that they had a higher rate of divorce when they were younger than some other generations have had.
This means that many of the divorces happening now are in second or subsequent marriages. It is a fact that remarriages can have a higher potential for failure than can their first marriage counterparts. The research did in fact show a higher divorce rate among marriages lasting for fewer years. People who get divorced at these later stages may face unique financial challenges as they have fewer years left to recoup any losses.
When a divorce appears imminent, Illinois residents might want to reach out to a lawyer to learn how to protect themselves financially, especially if they are at or near the age of retirement.
Source: The WashingtonTimes, "Divorce rates rise among baby boomers, fall among younger couples," March 13, 2017
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