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  • NSW: Senior divorcees suffer financial hardships
  • AAP
  • 01/02/2007 Make a Comment
  • Contributed by: admin ( 59 articles in 2007 )
SYDNEY - People aged between 55 and 74 are still suffering the financial effects of marriage breakdown, a landmark study shows.

The Australian Institute of Family Studies found that people in the middle-age bracket were on average worse-off than their married peers who stayed together, Fairfax newspapers report.

The research shows that re-marriage can improve finances of those who were previously divorced, but the rates of home ownership in later life are much lower than among couples who did not divorce.

The study was based on a sample of 2,236 people aged between 55 and 74.

The study reveals home ownership is the biggest financial advantage enjoyed by never-divorced couples.

Even when divorcees remarry only 57.8 per cent of men and 68.1 per cent of women finish up owning their own home.

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