When the writing is on the wall older women, in particular, need to be smart and prepare for a gray divorce. After all, women are more likely than recently divorced men to suffer as a result of a breakup. According to the National Center for Family and Marriage Research at Bowling Green State University, the standard of living for women who divorce after the age of 50 declines on average by 45 percent. For men, it’s a 21 percent decline.
“The person who is disadvantaged in a divorce is the person who is not the breadwinner,” says Chris Manske, president of Manske Wealth Management. “Most of the couples that are in their 50s and 60s the man is still predominantly the breadwinner. This puts women at a disadvantage in divorce.”
Divorce can happen at any age. Instead of being ashamed or paralyzed with fear women can take steps to prepare, which include:
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