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What issues do you face as a grey divorcee?

| Apr 22, 2021 | Blog, Divorce |

More and more older couples these days have decided that now is as good a time as any to get a divorce. Experts point at everything from increasing quality of life to a better societal acceptance of divorcees as potential reasons behind this trend.

But if you are among the many deciding whether they want to divorce or not, you should also be aware of the potential hurdles you face.

How do you handle retirement?

Forbes examines the implications and meaning of grey divorce rates. As mentioned, experts believe a number of factors spurred this increase on. It is an upward trend that shows no signs of slowing down, too.

But despite the many potential benefits to a grey divorce, you should also know that you will face more hurdles than a younger couple. Retirement is often one of the biggest concerns. After all, young couples have a lot more working years ahead of them. They can easily start a retirement fund over again if they lose it in a divorce. They can also work new jobs and gain better benefits.

You, on the other hand, might rapidly approach the time you wanted to retire. If you have halved funds or nothing to fall back on at all, what can you do about it? Some grey divorcees end up having to return to the workforce as a solution.

What about joint assets?

You and your partner also had much more time to accumulate joint assets. This means it will take a lot longer to detangle them, making for a longer and costlier divorce procedure. For some, this is a deal breaker. But that is not the case for everyone.