Divorce is one of those experiences that many people recognize can leave both spouses struggling financially, at least in the short term. For Virginia women, however, the impact may be even worse than for men, especially among people who get divorced after the age of 50. New research coming out of Bowling Green State University suggests that women who divorce after 50 and who do not get remarried have a high risk of falling into poverty by the time they are in their early 60s.
Yahoo Finance explains that researchers evaluated the poverty rates of seven different groups of people all at least 62 years of age. The group with the lowest poverty rate included men and women who were divorced before they turned 50 but who eventually got married again. Their poverty rate was 3.1%. The group with the highest poverty rate included women who got divorced in their 50s or later and who never got married again. Their poverty rate was 26.9%.
The group with the second highest poverty rate also included women only, this time being those women who divorced in their 40s or younger and who did not later remarry. Their poverty rate was 18.6%. The groups with the third and fourth highest poverty rates were both divorced men who did not later getting married again, the first being men who divorced after 50 and the second being men who divorced prior to 50. Their poverty rates were 11.4% and 10.7%, respectively.
Both men and women who divorced after 50 were found to experience a decline in their lifestyles but this dip was more serious for women as their standard of living dropped by 45% compared to 21% for men.