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Old 02-26-2013, 07:01 AM
 
Location: Tennessee
34,692 posts, read 33,704,884 times
Reputation: 51920

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"The number of divorces among people 50 or older doubled from 1990 to 2010. And in that year, one in four U.S. divorces was in that age group...That pool of money that was going to fund retirement for a couple will now be split in half, and must now fund retirement for two people living separately. That costs a lot more. And that means people must either temper those retirement lifestyle expectations or delay retirement altogether...Post divorce, you take separate vacations; you have two cars instead of one; and you make twice as many trips to see the kids, Duran says. And costs may be even higher if you consider medical expenses, he says if one partner gets sick, that spouse is no longer there to help take care of you."

The article goes on to say you don't have much time to make up the loss at work. However there is some advice like don't expect to give your adult kids monetary support, spend less, work longer, etc.

Boomer divorce: A costly retirement roadblock
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Old 02-26-2013, 07:10 AM
 
Location: Whereever we have our RV parked
8,795 posts, read 7,712,915 times
Reputation: 15086
I don't think finances are foremost in these people's minds. Most likely, they've stayed together for the sake of the kids, or they found out, once the kids are gone, that they'd like to fall in love again, the marriage has deteriorated down to more of a brother/sister deal, etc. They're hoping to find "true love" this time so they can live out their final years with someone they really want to be with.
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Old 02-26-2013, 07:51 AM
 
Location: Central Massachusetts
4,800 posts, read 4,850,322 times
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The worse part of all of that is only the lawyers get rich on it. A word to the wise if you are gonna get divorced do it without lawyers and work out the problem yourselves. It is just not worth giving thousands to two lawyers out of your retirement to make a deal.
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Old 02-26-2013, 07:53 AM
 
Location: Bella Vista, Ark
71,983 posts, read 83,671,479 times
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i don't know what the reason for divorce in older people is but it happened to my bor and his wife and let me tell you, it is a really messy situation. I don't even want to talk to my brother right now. I am sure, in his mind he believes all the stories he is telling me, but I happen to think he is living on another planet. The shocker was, until a year or so ago, I never dreamed they had any problems..I knew she was a little freaky and had some strange ideas and he was about as bad, but I thought their marriage was really secure. He retired about 2 years ago..

One more interesting thing, at 64 he decided to join a couple on line dating services. He now has a girlfriend and is planning on moving to Wash with her as soon as his divorce is final.

Nita
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Old 02-26-2013, 07:55 AM
 
Location: in the miseries
3,302 posts, read 3,581,865 times
Reputation: 3810
My sister in law decided one day to up and leave. So she
left a note saying "see ya!" and moved in with her sister.
Brother was devastated for a year, but things worked out.
He now has a rich girlfriend. So even though he could no
longer afford retirement he's okay.
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Old 02-26-2013, 09:34 AM
 
Location: Western Colorado
11,093 posts, read 12,481,863 times
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I think even baby boomers are caught up the the selfish MINE society of today. I know a couple who are in their 80's getting a divorce after 60 years. WHY????? That's just crazy.
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Old 02-26-2013, 09:56 AM
 
Location: Near a river
16,042 posts, read 18,985,208 times
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I read an article somewhere that some older couples divorce deliberately to protect financial assets from medical costs and nursing homes. They apparently continue to live together fine as before, only they're not legally connected. As for me, I will remarry the old man when we turn 70 if the next 5 or 6 years hold steady. We are getting so forgetful that we can't remember the past and why we got divorced anyway.
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Old 02-26-2013, 10:06 AM
 
Location: Baltimore, MD
3,745 posts, read 4,220,203 times
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Quote:
Originally Posted by jim9251 View Post
I think even baby boomers are caught up the the selfish MINE society of today. I know a couple who are in their 80's getting a divorce after 60 years. WHY????? That's just crazy.
In the 70-80's age group, it's usually the woman that initiates the divorce because they don't want to spend their remaining days in a relationship where they are subjected to daily verbal (and sometimes physical) abuse. Really.

OTOH, I had one client who was in her 70s and her husband left her while she was in the hospital undergoing cardiac bypass surgery. Seems there was a conflict between her cardiac condition and his recent discovery of Viagra.
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Old 02-26-2013, 10:15 AM
 
Location: Maine
2,017 posts, read 2,711,809 times
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Surprises like this have happened to a few boomer couples we know. One man took a short trip to visit a family member and while away from home decided he didn't want to be married to the woman anymore. He just quit on the marriage--no discussion, no warning, nothing. Although the woman was too self-satisfied and not sufficiently self-aware (to me), it seemed unfortunate that she did not get a chance to try to improve the relationship. Twenty years of marriage (second marriage for both) tossed away. I guess he was not as happy in the relationship as others thought he was. It seemed like he made a greater effort to be thoughtful and she was the "take things for granted" type.

My husband and I know we have to make it work. We love our home and our little rescue dog. Neither one of us would agree to move out.
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Old 02-26-2013, 10:19 AM
 
Location: CHicago, United States
6,936 posts, read 7,263,577 times
Reputation: 3490
This is a surprise? I don't think so. The divorce rate for 'empty nesters,' one segment of "boomers", has been steady for a long time now, if I recall the statistics correctly. Divorce creates financial problems, no matter the age at which it occurs. Probably in most instances, men emerge less disadvantaged when it's over.
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