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Divorce after 50 requires careful financial decisions

Divorce after age 50 can be quite different than divorce earlier in life. It isn't just that the children may be grown, making custody and parenting time decisions moot. It's the fact that, with retirement on the not-that-distant horizon, money issues may take on heightened importance for both you and your ex.

Child support and the cost of raising a child

No matter what type of child custody arrangement you have for the kids after a divorce, money is likely to be factor. After all, the cost of raising a child is so high that even the most committed parents can experience moments when sticker shock when confronted with the round number.

How does divorce affect Social Security benefits?

In our previous post, we wrote about how divorce can raise many different types of financial issues. This week, let's focus on a specific aspect of this, namely the impact of divorce on Social Security benefits. With the divorce rate as high as it is for people over 50, this is clearly an issue that affects a lot of people, including many baby boomers.

Divorce and finances: many complicating factors

By any measure, money is a significant factor in many divorces. Tension over financial issues may contribute to causing the divorce in the first place. But the issues don't end, just because you're splitting up. They just take a different form.

Divorce and the holidays: emotions abound

The holidays are coming. For newly divorced parents with children, this definitely requires some deliberate planning. In fact, even if you and your ex have been apart for awhile, the emotional and logistical hurdles of the holidays can be considerable.

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