Going through divorce, you can already expect to face certain hurdles and difficulties especially around matters of finance and overall well-being. But the troubles you face tie directly to the stage of your life you happen to be in.
For grey divorcees, you are often in a much different period of life compared to your younger peers. This will change the problems you come across, too. So what exactly are the issues you need to keep an eye out for, then?
Property division
Forbes takes a look at the most common hurdles faced by grey divorcees. As you can expect, many revolve around financial matters. In particular, the focus often falls on property division and retirement. Property division holds a major point of focus because of the sheer amount of time you have had to accumulate joint assets. It often takes more time, effort and money to divide property in the divorce of an older couple than a younger one.
Retirement plans
For retirement, this situation gets tricky fast when you factor in how reliant one spouse might be on another’s retirement plan or funds. If you lose that, it can throw your entire retirement plan into jeopardy. Not only that, but you have far less time to work on a backup plan, considering you likely only have a handful of years left before you retire.
Then, you also have the emotional burden and cost of divorce. Compared to younger couples, you have likely spent decades together. Perhaps by this point, you have even spent the majority of your life married. The mental toll of adjustment after a split can weigh heavily on anyone, so many may find themselves benefiting from mental health help.
