Has the seven-year itch turned into the 25-year itch in the U.S.? Looking at the divorce rate, it appears so. While couples of all ages are getting divorced, more couples over the age of 50 are filing for divorce than ever before.
Older people continue to get divorced at a higher rate compared to the rest of the nation. A new study found that couples over the age of 50 have the highest divorce rate and that their divorce rate has doubled between 1990 and 2010.
In our previous post, we wrote about how divorce can raise many different types of financial issues. This week, let's focus on a specific aspect of this, namely the impact of divorce on Social Security benefits. With the divorce rate as high as it is for people over 50, this is clearly an issue that affects a lot of people, including many baby boomers.