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Financial infidelity may lead to a gray divorce

On Behalf of | Jun 9, 2023 | Divorce |

No age group faces exclusions from divorce statistics. Even married couples over age 50 seek to dissolve marriages, including those who’ve been married for decades. Various reasons underlie why these couples seek to do so. Financial infidelity is among them, as the monetary strain could cause enormous stress and drive wedges between the spouses.

Gray divorce and financial infidelity

Gray divorce is a term many may be familiar with, and it refers to older persons dissolving their marriage. Financial infidelity might not be a term people understand. The term suggests that one partner engages in secret economic activities that become problematic for the union when a partner finds out.

A basic example of financial infidelity could involve spending money without a partner’s knowledge or permission. The partner might discover that their spouse earned more money than they realized and spent it on frivolous items. Such behavior could ruin any trust that existed previously.

Troubles in the marriage

Financial infidelity may take other forms that lead to divorce. Spouses who gamble or launch risky business ventures without telling their partner might add more conflict and tension to the relationship. Even when financial losses are minor, one spouse may distrust the other because of the secretive behavior.

With older couples, concerns about money might be more severe than those experienced by young persons. An older person’s retirement years may soon arrive, and a retirement nest egg could be the only thing that establishes financial stability for someone’s golden years.