“Gray divorces” are becoming more prevalent these days. That’s when couples in the 50+ age group call an end to their often long-term marriages. While divorce at any age can be difficult, these later-in-life breakups present their own unique challenges. For one thing, many of these couples are facing an end to their careers, which translates into a potentially lower income and less time to rebuild after a financial setback.
Divorce at this stage of life also puts the retirement picture in a whole new light. The financial resources that a couple has accumulated over many years of marriage now has to support two households instead of one. But divorce, even at this late stage, doesn’t necessarily mean an end to your retirement plans. There are steps you can take to salvage your relaxation plans when you finally decide to leave the workforce. For ideas on how to still enjoy retirement after divorce, read “5 Ways to Stop Divorce from Wrecking Your Retirement.”