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Tag: divorce and retirement assets

Retirement Planning and Divorce

Retirement Planning and Divorce

Divorce isn’t a fun topic at any age, and, it sure is not something most people anticipate as they happily stroll down the aisle while envisioning the years of marital bliss that lie ahead. Sometimes real life intervenes, and “happily ever after” isn’t always meant to be.  Things turn ugly with sharp words and accusations hurled – soon thereafter is talk of splitting up, or divorce.  Reconciliation may occur, but statistics show that only a mere 15% of all separations result in renewed marital bliss, and do not lead to divorce or reconciliation within ten years.  Those aren’t very good odds for the remaining 85% of couples, who at least believed their marriage was important enough to try to salvage.

Sentimentality aside, once the jeers and tears have gone away, the reality of divorce sets in.  Among the topics to consider going forward, is how retirement assets will be divvied up between the two partners.  Divorce can really take its toll, emotionally and financially, but the later in life it occurs, the greater the threat to retirement.   If you are getting divorced in your latter years it would be wise o consult with a top financial advisor in NJ.  A New Jersey financial advisor will be able to help you go through the process in the least painful way.

Divorce Advice for Baby Boomers

Americans born Post-World War II between the years 1946 and 1964 are known as the baby boomers. They’re associated with rebellion, reeducation, and redefinition of traditional values. And with that redefinition of values has come a reworking of traditional marriage and divorce. Boomers are divorcing at a much higher rate than any generation before them, creating greater concerns for their futures. Now that the kids are out of the house, they find themselves reflecting more deeply on self, spouse, and the relationship between the two. Their concerns are now directed toward self fulfillment more than previous generations, and their self reflection has redefined retirement. Baby boomers are more likely to opt for partial employment in their retirement or starting over with new careers. But divorce can throw a wrench into retirement plans.