Canada, ‘gray divorce’ increases… Women have high financial and mental difficulties

Share This Post

- Advertisement -

The ‘gray divorce’ phenomenon is increasing in Canada, and the resulting financial difficulties and psychological damage to women are attracting attention.

- Advertisement -

Recent studies have shown that women’s income loss after divorce is higher than that of single or married women. According to Statistics Canada data, the average age of divorce in 2020 was 48, and over the past 30 years, there has been an increase in ‘grey divorces’, when couples over the age of 50 separate.

Kevin Caspers, a family lawyer in Ontario, Canada, explained in an interview with Global News on February 6 that older couples tend to be more willing to divorce if they are unhappy with their marriage. He stated that, in particular, he has seen an increase in ‘gray divorces’ among individuals over 65 years of age.

- Advertisement -

Behind this trend are social changes and wealth accumulation among the baby boomers. It was found that this generation can afford to live in separate households as they go through marriage and divorce, and that they have good conditions to form partnerships again after divorce.

However, ‘gray divorce’ places a financial burden on both parties. There are concerns about the separation of assets due to divorce and the lack of time for reconstruction. The high cost of living and economic uncertainty are also affecting retirement plans, with one in every Canadian over 50 saying their income is not sufficient.

Experts say they are concerned that couples who go through a ‘gray divorce’ may not have much time left to rebuild their lost assets, as they do not have much working life left behind like younger couples.

And some people say that delaying their originally planned retirement due to financial problems is inevitable. Another TD Bank Group survey released last December found that four in ten Canadian adults (43%) said they were “not confident” they would be able to retire when they first planned to.

Additionally, ‘gray divorce’ is likely to have a greater impact on women from a psychological perspective. A study using data from Finland, published Feb. 6 in the journal Epidemiology and Community Health, found that antidepressant use among women ages 50 to 70 increases rapidly just before divorce. These results show that after divorce, women may take on greater responsibility for managing their relationship with a new partner, which may have implications for their mental health.

In these situations, experts emphasize that adult children and grandchildren can help divorced couples adjust to their new lives. They also argue that appropriate support is needed to help couples overcome these difficulties and start a new life.

(Moncton = News 1)

Source: Donga

- Advertisement -

Related Posts