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Hi everyone, I'm Jean Chatsky. Thank you so much for joining us today on her money.

We've got a special episode lined up for all of you.

You have been sending us your questions about going through divorce

and today we're going to answer them because you don't have to go through it alone.

Divorce can be an intense and exhausting process, as I know from personal experience.

It can be especially hard on women and their finances.

On average, women who go through divorce experience a 27% decline in their standard of living.

While men actually see their standards of living rise by 10%.

That's according to a study from the Social Science Research Council.

And all of that, of course, is because of the gender wage gap and the time that women spend out of the workforce,

either caring for their kids, sometimes caring for older parents.

Moms are three times as likely to be full-time stay-at-home parents even today than dads are,

according to the Pew Research Center.

And the older you get, the more divorce is likely to impact your financial situation

and especially your retirement.

Women 50 and older and we are seeing a big boom in what's called gray divorce among the 50 plus contingent.

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