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Big Picture Retirement®

The Risk of Grey Divorce

Big Picture Retirement®

Devin Carroll

Investing, Business News, News, Business

4.7546 Ratings

🗓️ 27 February 2024

⏱️ 30 minutes

🧾️ Download transcript

Summary

In today's episode, we'll dive into the intriguing phenomenon of Grey Divorce, which refers to divorces occurring among individuals aged 50 and above. Surprisingly, while the overall divorce rate is on the decline, Grey Divorce is on the rise. Join us as we explore the reasons behind this trend and provide a few thoughts on how to proactively prevent it from happening or protect yourself if it does.

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Transcript

Click on a timestamp to play from that location

0:00.0

The Big Picture Retirement Show does not provide tax, legal, or financial advice.

0:04.3

Listeners are encouraged to seek out their own advisors in these areas.

0:10.6

Hey, everyone, welcome to the Big Picture Retirement Show.

0:13.4

I'm your host, Evan, joined by my co-host, John Ross.

0:16.8

Okay. John, divorce is a really bad thing. I've never had to experience it, but I've had a lot of clients who have had to experience it. And it's, it's just never very pleasant.

0:37.0

Yeah, no, I've never, i've never had anybody say man i

0:40.4

really enjoyed that divorce right wow that i could do that every friday night no nobody nobody has

0:53.0

ever said that it's usually something that leaves both parties in a

0:59.0

worst state, although I've heard some people say, look, getting a divorce was the best thing that

1:02.5

ever happened. There's that, but the process of it is so nasty. Yeah, is so nasty. Typically

1:09.3

bad. Yeah, you know, we have, we have acquaintances and friends on both sides of that.

1:14.8

Some who still get along very well together.

1:17.3

In fact, they will take their kids out to dinner together, you know.

1:20.8

And then we have some who are constantly trying to get each other locked up in jail, you know,

1:25.1

throwing around criminal charges this, criminal charges that. And it's just a dumpster fire. But divorce is actually, the overall rate of

1:35.4

divorce is actually declining, which is good news. Now, maybe that's because the rate of

1:40.2

marriage is also declining. So there's not as many people married to get a divorce.

1:45.6

Fair enough, right? But what's interesting is that the rate of this so-called gray divorce is

1:51.4

increasing. Yep. I think this was first brought out in some data in the journals of gerontology,

1:57.4

where they noted that the divorce rate in the 50 and up crowd is increasing

2:03.6

and that among all the divorces, one in 10 are in individuals who are over the age of 65.

2:11.2

I have to say, that surprises me. You would think, especially if this is a long-term marriage,

...

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