Divorce rates are increasing among older Americans for a number of reasons. Interestingly, some are purely financial. People are living longer than previous generations. For those who did not adequately prepare by securing long-term care insurance and/or putting enough money away for medical care, the financial costs of growing old can be overwhelming.
Both long-term care and medical expenses are increasing rapidly. A certified financial planner makes the case that in some cases, a divorce is the only way to avoid financial ruin.