The ‘little ones’ have flown the nest; the mortgage is predominantly paid off and retirement is so close you can almost smell the slightly stale sandwiches at your office leaving party.
Now, what exciting chapter lies ahead for you and your partner?
Blissful beach holidays? Endless exploration of the Great British Isles? Divorce?
Chances are that divorce wouldn’t be exactly how many of us planned the Autumn of our years.
Increasingly, however, more and more of the baby boomers are getting divorced.
Known as ‘Silver Splitters’, those over 65 are the group most likely to divorce (https://bit.ly/2tLcVLy) – a trend that bucks the decreasing rates across all other demographics.
But what’s behind this trend?
Decreasing stigma, longer life expectancy and changing gender roles may all be contributing to the increasing figures.
What does this mean for women?
Despite divorce being more common than ever, it still has a predisposition to being shrouded in a sense of shame – especially amongst older generations.
Whilst little concern should be paid to the opinions of others, as the saying goes,‘Those who matter don’t mind, and those who mind don’t matter’, it is vital that women do not allow divorce to pass them by without securing their rightful financial shares.
As a recent report for the Chartered Institute for Insurance highlighted (https://bit.ly/2NEkJI2), divorce is a key catalyst in leaving women financially vulnerable in older age.
A lifetime of being left out of key financial and investment decisions, a career put on hold for raising children and subsequent reduced pensions and savings all compound to leave women in a precarious position.
At Magenta we have discussed many times how essential it is that women secure both liquid and fixed assets during a divorce.
Whilst a house may provide a much-needed dwelling, it should not be at the expense or trade-off for accessible assets such as cash, additional incomes (such as those from rentals etc.) or savings.
At Magenta, we know how emotionally and physically draining divorce can be.
We’ll help you through your divorce using our financial and personal knowledge – ensuring you make it through the other side financially secure and emotionally resilient.
And you will make it through – trust us 🙂
If you want a sensitive and understanding conversation about any of the issues raised in this blog do call us to arrange a meeting.