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Older women and divorce

The divorce rates for baby boomers have been steadily increasing over the years. In fact, from 1990 to 2010, the rate more than doubled according to the National Center for Family & Marriage Research. Texas women who are nearing retirement and who facing the end of their marriage should be aware of how it may impact their retirement years.

A survey conducted by Mathematica Policy Research found that women who divorced during their older years tended to still be employed full-time between 50 to 74 years of age. A 3-percentage point jump in the likelihood of the woman working full-time was linked to a 10-year age increase at divorce.

Although it was not addressed in the study, the labor rates of men divorcing at an older age will not be as affected by divorce. The workforce participation percentage for men at 70 percent is still higher than that for women, which is at 58 percent. Women may experience more difficulty than men in reentering the workforce as women are more likely to have taken an extended absence from their careers to care for their family. This time spent away from the labor market can also negatively affect their earnings upon their return to a career.

In a 2012 research paper, the Social Security Administration asserted that divorce trends indicate that increasingly more women will be divorced by the time they reach retirement age. Divorced women more than 80 years old also tend to experience poverty at a higher rate than women who never married, at 22 percent to 17 percent, respectively.

Older individuals who get divorced should be aware of how it will impact their financial situation during their retirement years. They may want to ask their attorneys for assistance in negotiating a property division settlement agreement that can help them to financially secure.

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