• 20
  • January
    2012

Divorce is never easy. Regardless of the circumstances in which a marriage begins and then ends, a divorce signals the end of something substantial. But aside from the practical implications of living alone, or at least without someone who has been there for years or decades, there are of course financial obligations as well.

In thousands of divorces in years gone by, in Washington and all around the country, women often ended up on the short end of the financial equation. Oftentimes, the husband was the sole income earner in a family. When a couple got divorced, the woman's income would decrease substantially, regardless of spousal support.

Since the early 1970s, however, the income gap between men and women has been narrowing. The number of women experiencing a decline in income of at least 25 percent after a divorce has gone down considerably, from 63 percent to 49 percent. Similarly, the number of women whose income has grown by at least 25 percent after a divorce has increased markedly, up to 20 percent from about 11 percent.

Conversely, the numbers for men in a similar situation are heading the other way. About 47 percent of men have experienced a 25 percent drop in income after divorce, compared with about 30 percent decades ago. And while the percentage of men whose income has increase has gone up, from 14 to 16 percent, it's less than the percentage for women.

It's not all good news for women, however. Many women, particularly single mothers, still face high levels of insecurity when it comes to finances.

Source: Business Insider, "It's Getting Easier For Women To Bounce Back After Divorce," Jill Krasny, Jan. 11, 2012