The divorce rate for people who are older than 50 in Texas has dramatically increased since 1990. Since that time, the divorce rate for older adults has almost doubled. People who are older and want to file for divorce should take some time to figure out how the end of their marriages might impact them financially.
When people get divorced after age 50, they may have trouble retiring when the time comes. People who divorce will need to divide their marital assets, including money that they have saved in their retirement plans while they were married. This may make it much harder to retire on time, forcing people to remain in the workforce far longer than they planned.