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Short time preferences in action

VD
May 10, 2016
One of the great challenges married men face is that a bored or unhappy wife won't hesitate to blow up her own future. Never mind his.
According to the Office of National Statistics, the number of 'silver divorces' has risen by three-quarters in the past 20 years, while the divorce rate among the rest of the population has fallen.

As well as fractured relationships and infidelity, the rise in late-life divorce is also fuelled by women fed up with old-before-their-time husbands and a lack of excitement.

Few of these women anticipate that their silver divorce will cost them all the home comforts and financial security they once took for granted.

Dominik Lipnicki, a housing expert for Your Mortgage Decisions, believes this boom in divorce and the financial instability it can cause is a huge problem for older women.
One would think the right way to address this problem is to encourage older men and women to stay married. Instead, they are encouraged to pursue bucket lists and make the most of what time remains to them. It is apparent that wisdom does not always come with age.

The very last thing that is needed is more support for short-sighted fools.

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