I have a good friend who says that the divorce calculator only subtracts and divides. It does not add and multiply. That’s not entirely true, because spouses who divorce do divide their incomes by half, but then they compensate by multiplying their monthly expenses by two. And halving income but doubling expenses is just the financial bad karma of divorce, to say nothing of the emotional wreckage it often leaves behind – loneliness, despair, and depression are common side effects. All of … [Read more...]
Grey Divorce: 7 Tips to Surviving Divorce After Age 50
Divorce is emotionally and financially difficult no matter how long you’ve been married, but it’s especially difficult when it happens later in life. The emotional pain of surviving divorce is great and the financial pain may be worse because you have so little time to rebuild your assets. The grim reality is that 25% of divorces happen after fifty years of age. If you are over fifty and facing a divorce, you need a plan. Here are seven tips to help you survive: 1. Get Help Whether you … [Read more...]
