Call today for a consultation
Making a Positive Difference In Your Life

Baby boomer divorce requires strong retirement planning

There is increasing data that says divorce is on the rise among people 50 years and older, also known as the Baby Boom generation, but the divorce planning that goes into a gray divorce is quite different than that for younger couples. Unlike the older generations, divorcé(e)s in their 30s have a lot more time to save for retirement after the financial shock of ending a marriage. The older you are, the harder it is on your finances and retirement plans if you divorce.

This does not mean, however, that it is financially irresponsible for Arkansas's baby boomers to get a divorce, it merely takes a little financial planning, as well. One of the most important things someone 50 and older can do when hiring a divorce attorney is to also hire a financial planner. By working together, they can make it a lot easier to get a divorce settlement that will provide for a newly single person as he or she approaches retirement.

It is tremendously more expensive to retire as a single person than it is to do so as a couple. As a single person, it will be 30 to 50 percent more expensive. Couples can save more money when they are together than if they have split up. Individuals will need separate homes, separate cars, separate trips and, for anyone needing medical care, they will need to get professional help instead of relying on a spouse for help.

There are people, however, who are successfully divorcing at any age. If a baby boomer wants to divorce, he or she can work closely with an experienced divorce attorney and a financial planner, both of whom should be familiar with the issues unique to gray divorce.

Source: USA Today, "Boomer divorce: A costly retirement roadblock," Rodney Brooks, Feb. 26, 2013

To learn more about the financial aspects of Baby Boom divorce, please see the source above. To find out more about the issues surrounding divorce in Arkansas, please consult our website.

No Comments

Leave a comment
Comment Information

Robertson, Oswalt & AssociatesOffice locations

Little Rock Office
1302 Cumberland Street
Little Rock, AR 72202

Toll Free: 866-311-3815
Phone: 501-588-4451
Little Rock Law Office Map

Benton Office
17724 I-30, Suite 8
Benton, AR 72019

Toll Free: 866-311-3815
Phone: 501-588-4451
Benton Law Office Map

Heber Springs Office
307 West Spring Street
Heber Springs, AR 72543

Toll Free: 866-311-3815
Phone: 501-588-4451
Heber Springs Law Office Map

Conway Office
1237 Front Street
Conway, AR 72032

Toll Free: 866-311-3815
Phone: 501-588-4451
Conway Law Office Map

Review Us Review Us Review Us
  • Local|
  • Toll Free|
  • Fax 501-537-4641|
  • Follow Our Firm