“Gray Divorce Can Drag Both Parties Into The Red,” The Washington Post
Date: April 9, 2016
In an article published by the Washington Post on April 9, 2016, Robert D. Boyd discusses some of the reasons behind recently escalating trends in divorce rates over the age of 50, now termed “gray divorce.” The article describes the growing trend, made clear by a recent Bowling Green University study that found that the divorce rate for people 50 or older has doubled from 1990 to 2010. Boyd calls it “a big trend… The children are gone. And it’s not uncommon that it’s people in a second marriage, which has an even higher rate of divorce.” Describing a recent case where the wife wanted alimony and the husband wanted to retire, he asks, “How do you resolve that? That’s one of the big issues for people in their mid- to late-60s getting divorces. How do you maintain that lifestyle? You can’t. You have to cut back. It’s a hard conversation, but that’s a big problem when you talk about these gray divorces. Sometimes people are lucky, when they have enough money so that each can enjoy that lifestyle,” he says. “That’s a small percentage. I represent wealthy people. Is it the same lifestyle they would have had together? Most of the time it is not.” For the full article, you may click here.