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What Women Need to Know About Divorcing During a Pandemic

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Oct 20, 2020

I know most of you have been seeing the reports, and the reality is that the coronavirus pandemic has brought about an increase in divorce.  Experts are predicting that those numbers will continue to climb as the pandemic continues.  This may not apply to all women, however many times it is more often the rule than not, but the fact is, the majority of the time, due to the disparities in earning capacity as well as choice in child rearing, women are not as financially equipped to handle the devastation of a divorce as men.  As this article points out, it would behoove women to tread carefully and be particularly savvy during this time.  Do not take drastic action but rather plan financially for the dissolution that you see coming.  Again, in this article, a study in the Journal demographic found that both men and women are hurt economically by a divorce, but men recover more quickly due to the disparity of earning capacity and the realities of the business world.  As this article quotes women have disproportionate losses in household income and assets and increase in risk of poverty and single parenting.

Interestingly, the report concluded that for men, divorce is an economic pot hole, and for a woman it can be a cliff.  That is a very clear and visual description of the extreme differences between the economic impact for men and women.