Mediate Michigan

Silver couples are divorcing now more than ever.

The divorce rate among 49- to 67-year-olds has grown more than 50 percent according to the latest statistics. And, unfortunately, many of these newly-single baby boomers lose much of their retirement in wake of divorce.

According to a recent article at Forbes, silver couples are warned that if the right steps aren’t taken to secure financial futures in the wake of a divorce, you may be stuck with reduced income or even a part-time job in your sunset years.

The latest study at ING found that divorced people are less financially prepared when it comes to retirement versus married couples. On average, divorcees saved $11,000 less for retirement than their married counterparts.

Retirement is an ongoing fear most couples have in divorce proceedings. Women fear being able to afford retirement in general while men fear it will be delayed.

via La Jolla Divorce Mediator on Retirement, Mediation When Divorcing | La Jolla Light.