Increases in late life divorce is creating a new set of financial challenges for today's seniors

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.

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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.

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