Fact: 30% of divorced women over the age of 62 who are still single live at or below the poverty line, according to research by Susan Brown, a professor at Bowling Green State University who has chronicled “gray divorce” throughout the years.
If we were to compare that to married couples in the same age demographic, only 4% live at or under the poverty line.
I just did a piece for the Chicago Tribune and Janet Kidd Stewart on divorce and retirement benefits – and why I think collaborative divorce may be the single best decision divorcing couples over 50 can make. Aside from the fact that collaborative keeps your divorce civil, respectful and private, the process also works to address your immediate and long-term financial needs (including those retirement years). [Read more…]