What's up with the number of divorces for those over the age of 50? 1 in every 3 divorces are now couples over 50, and a failed marriage can be as hard on your wallet as it is on your heart.
Join Jody Bruns and Andrew Hatherley, CDFA, on the Divorce Literacy Podcast as they discuss why more couples in later life are divorcing and their financial concerns.
Couples can divorce later in life for the same reasons younger couples split up – but when you’re over 50, these reasons are framed by aging and the realization that you may have more years behind you than ahead of you.
And While there may be differences in the emotional impact of divorce for couples who end their marriage later in life, the biggest difference is that there is less time to recover financially .
Whether it’s because divorce is more acceptable now than it was in the past or because more couples are running into unresolvable issues during retirement, many factors contribute to the high divorce rate among couples over the age of 50.
And While divorce is never easy, it can be uniquely challenging for that age group. Regardless of the ‘why,’ serious financial considerations for divorcing seniors may impact housing, real property, and financial concerns.
Andrew Hatherley is a Certified Divorce Financial Analyst and Chartered Retirement Planning Counsellor
He is the founder of Wiser Divorce Solutions, LLC and Transcend Retirement, LLC and the host of The Gray Divorce Podcast.
After going through his own divorce, Andrew decided to help others avoid the financial and emotional stress so common to the process. Andrew is trained in both divorce mediation and Collaborative Divorce.
In 2022, Andrew started The Gray Divorce Podcast, which is focused on mid-late life divorcees rebuilding the financial foundation for a meaningful life after divorce.
In addition to over 25 years’ experience in investment management and financial planning Andrew has studied with leaders in the field of humanistic and positive psychology. He is a strong advocate for the role creativity can play in growing personally after trauma.
He has a Master of Business Administration from McGill University and ESADE in Barcelona. He has lived and worked in five countries and speaks Spanish. Andrew loves to write, travel, play pickleball and tennis and discuss classic movies with fellow film buffs.
Visit www.divorceworkshop.com for more information and to take back control.
At the Divorce Lending Association, our mission is to help divorcing homeowners make more informed decisions regarding their home equity solutions and the divorce team identify any potential conflicts between the divorce settlement, the mortgage, and real property.
Divorce Mortgage Planning is the ability to put into play the desired outcome by pairing the needs and options available while incorporating the necessary details and clarity into an executable settlement agreement to obtain closure and peace of mind successfully.
Are you going through a divorce and need information on refinancing your mortgage or buying anew home once the divorce is final? Often conflict arises out of a lack of knowledge. We have an amazing workshop available allowing you to take control of your situation and divorce mortgage planning so you are in a stronger position to negotiate while removing conflict and unrealistic expectations.
Visit the Divorce Lending Association for resources and strategies on divorce mortgage planning.