Currently, there is a growing number of divorces among couples over 50 years old, a phenomenon known as "gray divorce" due to the advanced age of those involved in this situation. This trend poses significant financial risks, especially for women. This is because historically, women have not been prepared to support themselves financially, reintegrate into the workforce, or plan their old age independently as many men experience during their stability and retirement preparation phase.
In this regard, it is important to consider three key factors. First, women's incomes often decrease by 23% to 40% after divorce, while men's tend to increase. Second, both experience a reduction in their wealth of about 50% after divorce, with this impact being much more significant for women than for men. Finally, women's standard of living decreases by 45%, while men's decreases by 21% after divorce.
The generation that grew up in the fifties and sixties was based on the idea of romantic marriage, where women were expected to marry before thirty and to be economically dependent on their husbands. Over time, the institution of marriage has evolved. Initially, women were considered the property of men, but over time, the idea of divorce under the law was introduced, allowing women to initiate a divorce and obtain financial guarantees.
It is essential to address the issue of divorce when things are going well, to establish written agreements and clearly divide assets before the situation deteriorates. Despite advances in the social acceptance of divorce, especially for women, they still face significant financial challenges during "gray divorce." The social institution of marriage, one of the oldest, was originally created to ensure legitimate offspring, away from romantic or religious considerations.
