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The Financial Consequences Of 'Gray' Divorce

Authored by Anne Johnson via The Epoch Times,

Gray divorce refers to divorce among adults ages 50 and over. And although divorce among younger adults has been declining over the past 15 years, according to Pew Research, gray divorce is on the rise.

Gray divorce is becoming more common, and its financial impact can last well into retirement. New Africa/shutterstock

Although any divorce can be financially difficult, gray divorce is especially hard on retirement because it halves accumulated savings. It can also double living expenses by creating two separate households. The danger of a gray divorce is that, unlike a divorce in your 30s where you have time to make up for the financial loss, there is little time left in your 50s or 60s to rebuild wealth.

Prevalence of Gray Divorce

According to a study published in The Journals of Gerontology by Susan L. Brown, the gray divorce rate was low and grew only modestly between 1970 and 1990 before doubling by 2010.

The study found that, although the divorce rate has stagnated among middle-aged adults, it continues to climb among older adults.

In 2022, 36 percent of U.S. adults who divorced were aged 50 or older. The only group with an increasing divorce rate was found to be adults aged 65 and older.

According to Barnes Family Law, divorce among couples 65 and older has tripled since 1990 and is expected to grow by another one-third by 2030.

Financial Fallout From Gray Divorce

The longer the marriage, the more assets you share with your spouse. Finances are intermingled. And now, depending on your state's laws, retirement savings, homes, and other assets will need to be split. Both men and women experience roughly a 50 percent drop in wealth, according to a 2022 study published in Innovation in Aging titled "The Economic Consequences of Gray Divorce for Women and Men."

The study also found that women experienced a 45 percent decline in their standard of living, whereas men's standard of living dropped by 21 percent.

Beyond just splitting assets, the cost of divorce because of legal proceedings can affect your monthly budget or retirement plans.

According to The Law Offices of David M. Moore, the average divorce in the United States costs between $15,000 and $20,000. But this figure can actually run from a few hundred dollars for an amicable divorce to over $100,000 in a high-conflict high-asset divorce.

Dividing Assets Over 50

If you and your spouse can't agree on how to divide assets, a judge will decide following the law of the state.

Most judges use a system called equitable distribution, splitting all assets, earnings, debts, and property as they deem fair, according to Edelman Financial Engines. The length of marriage may also be a consideration. However, nine states follow community property laws. In these states, community property is typically divided 50-50, and each spouse keeps his or her separate property.

Retirement Accounts Divided Through QDRO

According to The Pension Rights Center, retirement plans like 401(k) plans, 403(b) plans, and pension plans typically must be divided through a qualified domestic relations order (QDRO).

A QDRO is a legal instrument that grants a person the right to a portion of the retirement benefits that person's former spouse has earned through a private sector employer-sponsored retirement plan.

Without a QDRO to divide these benefits, people going through divorce may lose their rights to a share of those benefits and put themselves at risk for financial insecurity at retirement.

It's important to hire an attorney who understands that retirement assets are at stake and that a QDRO is needed.

The court must be notified to ensure the former spouse provides all the information the court needs.

According to the IRS, most plans require you to file a QDRO with the plan administrator before the plan can pay any portion of a participant's retirement benefits to an ex-spouse.

Life Insurance for Dependents and Alimony

Life insurance may also be subject to division in a divorce. This is especially true if there is a cash value since this may be considered a marital asset.

According to Edelman Financial Engines, many divorce settlements require holding life insurance to protect child support and alimony payments.

Regardless, ensure you update your beneficiary for all life insurance policies.

Post-Divorce Retirement Planning

It's important to prepare a financial plan and budget to help guide you through your divorce. You'll want to review monthly bank and financial statements and make copies for your attorney.

Taxes are often overlooked. Ensure you consult an accountant or tax attorney. If you are paying or receiving alimony, discuss this with an accountant. According to Intuit Turbotax, when you started collecting alimony determines any taxation.

According to the Social Security Administration, if you've been married more than 10 years and have divorced, you're generally entitled to half of your spouse's Social Security, provided the benefit is greater than what you qualify for. You must be 62 or older, and if you file before your full retirement age, you'll receive a reduced Social Security benefit.

Anne Johnson was a commercial property and casualty insurance agent for nine years. She was also licensed in health and life insurance. She went on to own an advertising agency, where she worked with businesses. She has been writing about personal finance for 10 years.

Tyler Durden Thu, 08/06/2026 - 20:05

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These Are The States With The Most Empty Homes

America faces a housing shortage, yet about 14.5 million homes across the country are vacant. How can both be true?

Using the latest U.S. Census Bureau data compiled by LendingTree, Visual Capitalist's Dorothy Neufeld created this map showing the share of vacant housing units in every state.

The figures include vacation homes, rentals awaiting tenants, homes for sale, and other unoccupied properties, not just abandoned buildings.

Which States Have the Highest Vacancy Rates?

About one in 10 U.S. housing units is vacant, but most are not permanently sitting unused.

Nearly 4.7 million vacant units are seasonal or recreational homes, 2.6 million are available for rent, and fewer than 800,000 are actively listed for sale. This helps explain why states with large vacation-home markets, including Maine, Vermont, Florida, and Hawaii, record some of the nation’s highest vacancy rates.

Rank State Vacancy Rate 2024 Vacant Housing Units 1 Maine 20.6% 154,717 2 Vermont 19.4% 65,626 3 Alaska 17.6% 57,958 4 West Virginia 15.4% 132,670 5 Florida 14.7% 1,503,660 6 Mississippi 14.6% 195,683 7 Alabama 14.5% 340,018 8 Louisiana 14.4% 304,122 9 New Hampshire 14.3% 92,650 10 Arkansas 13.5% 188,686 11 Delaware 13.4% 62,165 12 Hawaii 13.3% 75,443 13 South Carolina 13.3% 325,050 14 Montana 13.2% 69,560 15 New Mexico 12.5% 119,550 16 North Carolina 12.5% 613,323 17 North Dakota 12.3% 46,218 18 Wyoming 12.2% 33,823 19 Oklahoma 12.0% 212,738 20 Michigan 11.8% 545,867 21 Missouri 11.2% 317,060 22 Wisconsin 10.8% 299,092 23 Arizona 10.5% 336,758 24 South Dakota 10.5% 43,040 25 Georgia 10.3% 467,469 26 Idaho 10.3% 82,009 27 Kentucky 10.3% 208,647 28 Tennessee 10.2% 319,393 29 District of Columbia 10.1% 36,523 30 New York 10.0% 862,595 31 Texas 9.4% 1,135,699 32 Minnesota 9.3% 237,075 33 Nevada 9.3% 123,878 34 Kansas 9.2% 119,575 35 Pennsylvania 9.2% 531,599 36 Rhode Island 9.1% 44,362 37 Indiana 8.8% 260,559 38 Virginia 8.7% 319,024 39 Iowa 8.5% 121,992 40 Colorado 8.3% 214,835 41 Massachusetts 8.1% 245,364 42 Ohio 8.1% 429,200 43 Utah 8.1% 98,646 44 Illinois 7.7% 421,003 45 Maryland 7.7% 197,856 46 Nebraska 7.6% 65,597 47 California 7.5% 1,096,644 48 New Jersey 7.5% 283,653 49 Oregon 7.5% 139,570 50 Washington 7.3% 241,800 51 Connecticut 7.0% 107,815 -- 🇺🇸 U.S. total 10.1% 14,547,859

Maine leads the country with a vacancy rate of 20.6%, followed by Vermont at 19.4% and Alaska at 17.6%. At the other end of the ranking, Washington and Connecticut have rates of around 7%, while California, New Jersey, and Massachusetts also sit near the bottom.

In these states, available housing is often absorbed quickly, leaving fewer homes unoccupied. A low vacancy rate can therefore reflect strong demand, not necessarily a healthier or more affordable housing market.

Why Empty Homes Won’t Solve the Housing Crisis

At first glance, millions of vacant homes may appear sufficient to ease America’s housing shortage. In practice, many are not available to year-round buyers or renters.

Some are second homes or seasonal properties concentrated in vacation destinations, while others are temporarily vacant between tenants or owners. High vacancy rates and housing shortages can therefore exist at the same time, particularly in expensive metropolitan areas where year-round housing remains scarce.

To learn more about this topic, check out this graphic on the salary needed to afford rent across America.

Tyler Durden Thu, 08/06/2026 - 19:40