Divorcing at any age is not easy, even when the split is amicable. For people who are nearing or already in retirement, there are special considerations for “Gray Divorce”. Or, if you want a term with more bling try “Silver Splitters” or “Diamond Divorcees”.
But often bling or lack thereof is an issue for people who end marriages later in life. People who divorce later in life have fewer working years left to recover from the financial losses of divorce. These losses include the legal costs involved in getting the divorce and for many, the subsequent loss of …Read More
The practice of offering consumers the chance to take a vehicle they might buy on a test-drive has been in place for a long time. And a few years ago, realtors got into letting people “test-drive” homes by spending the night in them. And in “Test-Drive Your Retirement,” Kiplinger.com suggests that instead of just outlining your retirement goals on paper, you actually take those goals for a test-drive to see if the retirement life you are planning will really work for you.
Location, Location, Location: You would expect to be advised to try for an extended stay in …Read More
Kiplinger.com offered advice for married women who may need to do some retirement planning, mentioning this “sobering reality” – “Most widows feel unprepared to make key financial decisions in their live-alone years.” While it isn’t pleasant to think about death, married people do have to consider they may need to continue without a spouse: not simply emotionally but financially as well. “Thus, it’s extremely important for women to empower themselves with the tools they’ll need to take ownership of their financial future.”
If your spouse is in charge of finances, you need to make sure that you know where …Read More
Forbes.com discussed the surprising results of research from The Center for Retirement Research as reported by Prudential Financial:
“Women in their 50s who are at the most financial risk in retirement are those who are married and in two-income households.“
The research still found risk for women who were married in households with one income and those who had never been married but those who were married with two incomes had a higher percentage of risk.
The assumption is that a woman is better off if her household is earning more but that is not necessarily so. People …Read More