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Several misconceptions surround Social Security and divorce, even though the program has been around for over 85 years. To get things straight, here are 7 common myths about Social security and divorce and the facts that disprove them.
Since the 1990s, the number of divorces for people over the age of 50 has roughly doubled, and tripled for adults 65 and older. Gray divorce is three times more likely for remarried couples than those in first marriages. Those who have been married for less than 10 years are ten times more likely to divorce than those married 40 years or more. Gray divorcees are also called “diamond or silver splitters.”
If a custodial parent wants to relocate with the kids after divorce, he or she must get permission from the co-parent and approval from the court that issued the original custody order. Sometimes relocating to another area is the right thing to do for the family. It could mean escaping a toxic relationship, getting a better job, or obtaining a better education.
Wealthy couples have higher odds of divorce because more money translates to more stress in a committed relationship. A 2018 study by Northwestern Mutual found that a person’s relationship with money increases his or her chances of divorce. Around 41% of more than 2,000 adults surveyed said financial anxiety affects how they relate with a partner or spouse.