Divorce, while difficult for people of all ages, can be especially challenging for people close to retirement age. While younger people getting a divorce still have many years to work on their savings and retirement plans, seniors face the difficulties of splitting the assets and retirement funds that they had taken a lifetime to build. What could have promised a comfortable retirement for a married couple can turn into hardship as newly single baby boomers struggle to make ends meet.
Still, gray divorce, or the divorce of people over age 50, is increasing, says USA Today – having doubled from 1990 to 2010. For the thousands of seniors getting divorced in California every year, they can face hurdles that are quite different from the usual divorce issues.
The varied financial and emotional effects of divorcing later in life
Read the rest of this article via Baby boomer divorce liberating for some, challenging for others – Press Release – Digital Journal.