Any sort of divorce will take time and effort to recover from, no matter your age or social status. However, older divorcees – sometimes called grey divorcees – often face unique struggles that younger couples may not even consider.
Why is it so hard to recover after a grey divorce? And what are the steps you can take to get there?
Readjusting your expectations
Forbes examines grey divorce and its potential impact on divorcees. It creates unique hurdles due to the fact that you have much less time to get back on your feet after a divorce at your age. For example, you are likely near retirement. So what happens if your spouse is the one with the bulk of the retirement benefits?
Many people in this situation must consider what losses they will take and what sacrifices they may make. For example, you may decide to pick up a part time job. You could decide to stay in the workforce a little longer than planned. Or you could go back to school so you can have an easier time re-entering the workforce.
Looking into spousal support
Alimony is also something to look into. Having spousal support may act as a crucial component for helping you get back on your feet after the split. It can provide you with the extra financial padding you need while you decide how to make up for lost assets and benefits.
It also helps to keep an eye out during asset division. If you have a lot of accumulated assets, a spouse may try to hide some. This cheats you out of your fair share and can impact your comfort in the aftermath of the split.
Discuss your options with legal help if possible. They can ensure you get the most return for your efforts.
