Divorce Is Costly. Divorce in Retirement Is Costly and Complicated.

Divorcing at or near retirement creates additional risk to women’s financial security. The statistics indicate that after divorce an average woman’s standard of living drops by 45% as compared to 21% for an average man. According to this article, there are several reasons that may explain this gap including losing employer- based health coverage, reduced social security benefits because of a shorter work history and unfavorable division of marital assets whereby the wife may give up retirement assets to keep the marital home.