A common misconception about marriage in the U.S. is that millennials have a higher divorce rate than previous generations. In fact, millennials are actually divorcing at much lower rates than those of similar ages in the 1970s and 1980s.

In reality, it was the baby boomers reaching adulthood that caused a boom in divorce rates. Divorce rates are increasing for the baby boomer cohort as they are now entering retirement. This increase in senior, or “silver,” divorce is creating a whole new set of financial and retirement challenges.