Any person going through a divorce will have their own hurdles to face, no matter what their personal circumstances are. This goes for you as well, especially as a grey divorcee. Being in your 50s or older automatically puts you at a very different place in life than your younger divorcing peers, and this can have a big impact on how the split goes.
But just what sort of impact does it have? What hurdles should you prepare yourself to face?
The struggles of approaching retirement
Forbes examines the unique challenges presented in a grey divorce. Many of these challenges involve your age in a very direct way, as you are likely much closer to retirement age than your younger peers. Couples in their 20s and 30s have decades to go before they have to worry about retiring. Meanwhile, you have likely already retired or are looking at doing so within the next decade.
Thus, you need to decide what you want to do about the possibility of losing retirement benefits or a portion of your joint savings. Some people in your position decide to simply extend out their planned retirement past the initial date of choice. Others decide to strike a balance between work and retirement by leaving their full-time positions and switching to a part-time job instead.
Re-entering the workforce
Some grey divorcees left their careers in order to raise a family. If you fall into this category, then you could face unnecessary struggles in re-entering the job market at your age with no experience. This is where you may want to look into spousal support options. Not only can you use it to continue living in comfort, but you can perhaps consider splitting the cost of schooling so you can get a degree and have a better chance at finding work.
