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More alone and with less money: divorce after 50 causes a 45% drop in women’s standard of living

A recent study shows how divorce in later life can financially hamper women.

A recent study shows how divorce in later life can financially hamper women.
mactrunkGetty Images/iStockphoto

With a marriage on the rocks and when reconciliation attempts have failed, middle aged women should be aware of a number of factors before finally signing divorce papers.

According to the National Center for Family and Marriage Research at Bowling Green State University (Ohio), the standard of living for women who divorce after age 50 declines by an average of 45%. For men, the average is 21%.

‘During any divorce, he person who is disadvantaged afterwards is generally not the breadwinner,’ says Chris Manske, president of Manske Wealth Management in Houston (TX). ‘The male is still largely the breadwinner for most couples in their 50s and 60s and this puts women at a disadvantage during divorce proceedings.’

Preparing for divorce

Divorce can happen at any age and instead of feeling ashamed or paralysed with fear, women can take steps to prepare ahead and these measures include: looking for new revenue streams, studying pension plans and looking after basic needs and scrutinize the financial nitty-gritty further down the line.

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