When you get ready to divorce, you have a lot of things to consider. One is the many hurdles you will face before, during and after the split. However, as a grey divorcee, you will often face hurdles that your younger counterparts do not even consider.
How do the hurdles older couples face differ from those younger couples may handle? What are these hurdles as a whole and how can you prepare?
Financial hurdles
Forbes takes a look at the hurdles faced by grey divorcees. Many revolve around your finances. After all, you will not work on the same timeline as a younger couple. Couples in their 20s or 30s often have decades of time ahead of them in the workforce. This means losing savings or retirement money will not do permanent damage. Though it is a setback, it is not one they cannot recover from.
On the other hand, you may be just years away from retirement. Or perhaps you already retired. Maybe you are a stay-at-home parent who did not retire because you have been out of the workforce for years. You planned to rely on your spouse’s retirement savings, but what now? How do you handle this situation after a divorce?
Getting back on your feet
It helps to have legal help. They can walk you through the divorce and offer as much aid as possible to get you back on your feet. They can help you work out arrangements that allow the spouse in the worse financial situation to get the support they need. This makes the whole situation more bearable for everyone.
