5. Think carefully about getting a divorce
Nobody should be staying in a miserable, abusive marriage. And we’re not suggesting anyone should think twice about leaving their partners if things get rough at home, but we are saying that you have to be very careful when it comes to financial matters during and after a divorce. Of course, these should not trump anyone’s mental and physical wellbeing- we’re just here to shed light on some facts.
You might be surprised to find out that the divorce rate among 65-year-olds has tripled in America since 1990. They typically cost around $12,900, and that’s money retirees simply cannot afford to lose.
So if you’re planning on getting a divorce make sure you’re aware of the following. You might be forced to sell the family home on top of liquidating and splitting up your retirement accounts. Finally, you’ll also need to live on half of your previous income so you might need to rethink your living expenses.
