Margye Solomon is a prime example of the financial shifts faced by older adults after divorce, sacrificing monetary security for personal happiness. At 71, she reflects on how ending her 33-year marriage impacted her finances significantly, halving her savings. Despite this, Solomon values her happiness over money, demonstrating resilience in navigating life changes later in age. She's learned to embrace a frugal lifestyle, moving to lower-cost Nashville and adjusting her spending while still prioritizing her personal fulfillment in her golden years.
The increase in divorce rates among people over 50, particularly those over 65, highlights the evolving perspective on marriage and independence in later life. A 2022 study noted a doubling of divorce rates in this age group since the 1990s, attributed to longer life expectancies and economic viability, primarily for women. This demographic shift indicates that many older adults, energized by newfound independence and financial autonomy, are opting for divorce as an opportunity for personal growth and fulfillment.
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