Getting divorced at any age is difficult. For Tennessee women over 50, it often comes with unique challenges. Understanding what to expect and forming good strategies is important to establishing your personal and financial security.
Divorcing after 50
Some of the challenges and concerns experienced by women who divorce later in life include:
- Planning for retirement: Unlike 20-and-30-somethings, most people who are 50 and over plan to retire in the next 10 to 15 years. Your divorce will likely have an impact on your finances, including your retirement accounts, so you may have to rethink your plans.
- Career reset: If you have not had a career or opted for a part-time or lower-paying job so that you could care for your home and family, you might need to either find a new job or even retrain for a new career.
- Relationships with children: Children, even if they are now adults, are impacted by their parents’ divorce. While child custody is likely no longer an issue, you may still find yourself navigating hurt feelings and divided loyalties.
Your financial situation before your divorce may be very different from your current circumstances. Working with a financial advisor who has experience in advising clients who have had a gray divorce might help you be better prepared for retirement. If you will need to get a job, get a new job, or even retrain for a different career, speaking with a career counselor can be helpful.
Your social and personal life
Even if you wanted your divorce and are relieved that it has happened, you are likely to experience relationship upheaval. Now is a good time to reconnect with old friends and family while also seeking out new relationships through community involvement, a new job, volunteering or membership in a house of worship.
The end of a marriage is a major transition. Take time to understand and respect your needs as you move into this next phase of your life.