More older women are returning to work, rebuilding savings and a professional identity

Paul Davidson USA Today, Published 5:00 a.m. ET March 25, 2019

Erica Hernandez was a stay-at-home mom through two recessions that depleted her family’s retirement savings, forcing them into a frugal lifestyle that left little money for frills like dining out.

So in 2017, with her two children gearing up for college, she returned to the workforce after a 19-year hiatus -- not as the public relations executive she had once been, but as an administrative assistant for a teachers union.

“My husband had shouldered the burden all these years,” says Hernandez, 54, who lives in South San Francisco, California. “It was time for me to share the load.”

The best job market in half a... Read More

Strategies For Protecting Threatened Wealth

 

 

 


How to advise older clients divorcing on the cusp of retirement


February 28, 2019
by Lili A. Vasileff, CFP, MAFF, CDFA
Ms. Vasileff is a fee only CFP, Master Analyst in Financial Forensics (MAFF™) specializing in Matrimonial Litigation, CDFA, and President of Wealth Protection Management in Greenwich, CT. Please visit wealthprotectionmanagement.com. She is author of three books: “Money & Divorce: The Essential Roadmap to Mastering Financial Decisions” published by the American Bar Association; and “The Ultimate Divorce Organizer, The Complete Interactive Guide to Achieving the Best Legal, Financial and Personal Divorce”, and “The Divorce Planner Checklist”. Her awards... Read More

Half of widows see their income drop by 50%. Don’t be one of them


When your spouse passes away, you don't have to struggle financially

Julie Halpert
November 26, 2018
considerable.com

In March 2013, Ginny McKinney and her husband, Dan, were shopping for a camper to pursue their dream of traveling to great golf courses around the country. Then Dan died of a heart attack. He was 62 years old and she was 59.

“It was devastating. Grief is like an onion. You have the initial shock of the loss itself, but then it keeps going deeper and deeper,” Ginny says.

And in Ginny’s case, the emotional challenges were compounded by financial setbacks.

Just four months before Dan died, Ginny had cut down to part-time hours at... Read More

This is why baby boomers are divorcing at a stunning rate

 

 

 

 

Published: Oct 20, 2018 10:59 a.m. ET

When ‘until death do us part’ sounds like agony
(Courtesy Everett Collection)

By ANGELA MOORE, SENIOR EDITOR

 

Looking ahead to the next phase of life can seem pretty dreadful if you can’t stand the person who you’ll be spending it with.

That may be what some boomers are facing. Among U.S. adults ages 50 and older, the divorce rate has roughly doubled since the 1990s, according to a Pew Research Center report. Statistically speaking we’re healthier and probably going to be living a lot longer — possibly 30 years... Read More

9 Expert Tips For Negotiating an Alimony Settlement


At a certain point, the topic has to be dealt with.
The only way to do it successfully is to arm yourself with as much knowledge as possible.

By Jeremy Brown July 19 2018, 7:33 PM
Fatherly.com

Second only to child custody, alimony is one of the most contentious and difficult-to-navigate processes in any divorce. When two people are splitting up, particularly when that split is acrimonious, the last thing either of them wants to discuss is the prospect of giving money to each other. But, the topic has to be dealt with and the only way to do it... Read More

Upcoming Events

Lili will be speaking at a variety of upcoming engagements, including:

April 19 – National Webinar: “The Platinum Retirement Challenge – Gray Divorce” for the Retirement Resource Center Professional Development Series at https://www.retirement-resource-center.com/

May 2 – New York City Bar on the financial issues in divorce: “Divorce 101.”

June 1 – FPA New York Chapter with Jeremy Doyle, BNY Mellon Title: “Divorce and... Read More

The Perfect Storm: Divorcing Baby Boomers

By FPA Member Lili A. Vasileff, CFP®, CDFA™

Published: January 27, 2012 

As Baby Boomers approach the last hurdle before the magic retirement age of 65, it is becoming increasingly newsworthy that growing legions of older Americans are untying the marital knot. With this trend for “gray” divorces, there are several challenges: dividing one household into two; re-evaluating near term retirement and estate planning goals; addressing gaps in health insurance coverages; re-examining investment decisions for longer life expectancies. It is truly a “perfect storm” where not only are your financial goals turned upside down, but planning is further complicated by emotional and psychological turmoil affecting your rational decision-making.

Every 10 seconds a Boomer turns 60... Read More

This is why baby boomers are divorcing at a stunning rate

Lili Vasileff is quoted in a recent article by Angela Moore for Market Watch on why older couples are deciding to divorce in record numbers. Lili says, “What’s pushing gray divorce is people are living longer and they feel more entitled to living fully. They’ve contributed to raising children, they want an emotional journey, it’s their time now. They may have decades ahead and don’t want to be unhappy anymore.”

When ‘until death do us part’ sounds like agony

By Angela Moore for Market WatchMarch 13, 2017

Looking ahead to the next phase of life can seem pretty dreadful if you can’t stand the person who you’ll be spending it with.

That may be what some boomers are facing.... Read More

Planning Through Life’s Disruptions: Advising Late in Life Divorce

In this article for LifeHealth.com, Lili Vasileff explores the topic of late in life divorce. She says, "As a Baby Boomer approaching retirement, let us assume that you and your spouse have been fiscally responsible for most of your lives. But what happens when one household now unexpectedly divides itself in two with a late in life divorce?"


Planning Through Life's Disruptions: Advising Late in Life Divorce

How to help your client untangle, and protect, a mature retirement portfolio

by Lili A. Vasileff, CFP, CDFA

Ms. Vasileff received the national 2013 Pioneering Award for her public advocacy and leadership in the field of divorce financial planning. Lili is the President Emeritus of the national Association of Divorce Financial Planners and is a member of NAPFA,... Read More

Why Your Divorce is Unique

As you approach your golden years, you realize you may be heading toward divorce. Now you start asking questions: how does one start the process, how much is it going to cost, and how long does it take?

Many Baby Boomers have misconceptions about divorce. These misconceptions arise from all sorts of people who mean well but mislead when sharing their own experiences and “knowledge from the battlefield”. Everyone has a story to tell. It seems that either they came through divorce reasonably well or they are financially devastated by divorce. The perils of not knowing what lie ahead seem enormous. Your anxiety is clearly growing as it becomes increasingly confusing to know... Read More

Back to Top