Across the country, the rate of divorce has consistently been on an upward slope. This is true for almost every age group, including grey divorcees. This group includes individuals age 50 and up.
Due to the differences in where you are at in life, you will likely experience many hurdles that younger couples do not even consider. Men also face a different set of challenges than women. But what are they?
Retirement plans gone awry
Forbes looks at some of the challenges specific to grey divorce. In particular, how are men affected by grey divorce? The biggest differences involve your financial matters and plans for the future. In particular, you will likely face the biggest impact in the form of retirement.
After all, you are likely near retiring age or have already retired. You may have plans that you worked toward for years. Suddenly, you find all of these plans uprooted. On top of that, your spouse may ask for large sums in support payments. The courts may side with your spouse, especially if they left the workforce to care for the family.
Personal finance strain
But this can place a great strain on your personal finances. This is especially when you retire, or right now if you already retired. You have no steady paycheck at that point. You may only rely on your retirement plan, and this plan likely did not account for alimony payments.
Of course, there are emotional factors as well. Men often struggle to return to single life after marriage, and many find it difficult to readjust. If you find yourself facing such struggles, consider contacting an attorney.