Every 10 seconds a Boomer turns 60 years old. And if you are over the age of 50, you share the risk of divorce, which has doubled in its rate for first-time long-term marriages in the last decade.
Every 10 seconds a Boomer turns 60 years old. Gray divorce is what many boomers face. Among U.S. adults over age 50, the divorce rate has doubled since 1994. Contrary to expectations, long term marriages are not immune to divorce and the largest increase (55%) is in first time marriages of over 20 years. With transition and the uncertainty of a divorce outcome, being able to meet one’s needs and protect wealth are the two priorities expressed most often by older individuals who divorce.
Lili Vasileff Is Quoted In A Recent Article By Brittney Laryea For Magnify Money On How To Handle A Spouse Who Is Chronically Overspending. Lili Says, “Financial Infidelity Is Not A Financial Exercise, Its An Emotional Exercise. Sometimes Overspending May Be The Result Of Miscommunication, Emergency Spending, Or Unrelated, Deeply Seated Emotional Issues Like An Addiction.”
Breaking up is hard to do and you face many multi-dimensional issues – emotional, legal and financial. How can you focus your energies to maximize your divorce outcome? Make your financial concerns, challenges and priorities the essential core of your divorce.