Divorce after Age 60 & Challenges you need to consider
The divorce rate among people Age 60 has doubled in the last two decades according to a recent report by sociologists at Bowling Green State University. Divorcing at any age can be a life-changing event, but after age 60 divorce brings with it a unique set of financial problems & challenges. Decisions relating to your geographic location, employment, property division, taxation, credit, health insurance coverage are just the beginning due Divorce after Age 60 & beyond.
Basically, each person has less to live on & less security. Financial planning is essential when faced with a divorce, & because a senior citizen does not have the advantage of 30-40 years to re-coup assets, it is crucial that all angles are considered.
Here are just a few Survival Tips for you:
1. Cancel Joint Credit Cards
2. Be clear on handling of current debt.
3. Cut Your Living Expenses
4. Keep your Home? Can you really afford it?
5. Keep your Health Insurance or if eligible for Medicare, which is best for you?
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