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Sixty and Me published six practical steps for people facing divorce near retirement, including learning state divorce law, reviewing savings, planning healthcare and considering downsizing. The article is guidance, not a new study or policy announcement, and its statistics lack enough detail in the supplied material to verify their underlying sources.
Sixty and Me has outlined six financial steps for people approaching or living through divorce near retirement, urging readers to review their legal rights, savings, healthcare coverage and housing costs. The advice addresses the financial disruption that can follow a later-life divorce, particularly for women whose retirement security may be affected by career breaks or reliance on a spouse’s financial management.
The article’s recommendations begin with understanding the divorce laws in the relevant state and seeking legal advice, especially where there is no prenuptial agreement. The source notes that property division rules differ by jurisdiction; it says some U.S. states use community property laws, but does not identify those states or explain how the rules apply in individual cases.
It also advises readers to assess savings and create an independent retirement plan that tracks assets and estimates future needs, including planning for a longer retirement. Possible ways to improve a budget include reducing discretionary spending, moving to a smaller home, or working longer before claiming Social Security. The article recommends meeting with a financial planner and checking whether health insurance can continue after divorce, as eligibility depends on policy terms and applicable rules.
The sixth step is to consider downsizing expenses and housing rather than trying to maintain a shared household budget on one income, while weighing what you want and what you need. The article suggests weighing housing and vehicle costs against priorities such as travel. Its broader point is that practical choices made before or during a divorce may help people adapt to a changed retirement budget, though outcomes will depend on individual finances and circumstances, as explored in reflections on life after retirement.
Planning for a Single-Income Retirement
Divorce near retirement can change the resources available to cover housing, healthcare and everyday spending at a time when there may be fewer working years left to rebuild savings. A household that once shared income and expenses becomes two separate financial lives, making benefit eligibility, asset division and recurring costs more immediate concerns.
The source particularly highlights women, who may have longer life expectancies and may have spent time out of paid work raising children. Those factors can affect earnings and retirement savings, but the article does not provide individual forecasts or establish that every woman will face the same consequences. Its advice is most useful as a checklist of issues to raise with qualified legal, financial and insurance professionals.
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The Gray Divorce Background
The article uses the term gray divorce for divorce among older adults and says researchers have used it for people over 55. It cites a study finding that the number of people over 50 who divorced nearly doubled from 1990 to 2010. The supplied material does not name the study, describe its method or provide the underlying figures, so the statistic should be read as a claim reported by Sixty and Me rather than independently verified here.
The report also says that 24% of Baby Boomers felt they had saved enough for retirement, describing that figure as 12% lower than five years earlier. It does not identify the survey, explain whether the change means percentage points or a relative decline, or give the survey date. Those missing details limit what can be concluded from the number. The article’s central focus is practical planning, not a new release of data.
“The best thing you can do is plan in advance and take control of your independence confidently.”
— Sixty and Me
Questions That Depend on Each Case
The source does not give a publication date in the supplied material, identify the studies behind its statistics, or provide detailed legal and insurance guidance. It also does not specify how a particular person’s assets, retirement benefits or healthcare coverage would be treated. Divorce rules and insurance options vary by location, policy and personal situation, so the article’s general recommendations cannot determine an individual’s rights or financial outcome.
It is also unclear how much savings a reader may need, whether working longer or downsizing is practical, or what Social Security timing would be appropriate. The report offers options to investigate, not a calculation of likely costs or a guarantee that any step will produce a particular retirement result.
Build a Personal Planning Checklist
For readers considering or going through a later-life divorce, the next steps described in the report are to gather financial and insurance records, consult a family-law professional familiar with local rules, and review retirement projections with a financial planner. They can also contact their insurer or benefits administrator to ask what coverage may be available after divorce.
After those reviews, a person can compare housing and other recurring costs with expected income and decide which changes are manageable. The source announces no follow-up study or policy change; the practical next milestone is an individual plan based on confirmed legal rights, available coverage and a realistic budget.
Key Questions
What does “gray divorce” mean in the report?
Sixty and Me uses the term for divorce among older adults and says researchers have applied it to people over 55. Definitions can vary, and the source does not provide a formal research definition.
What are the six steps the article recommends?
Learn the applicable divorce laws, increase or review savings, create an independent retirement plan, consult a financial planner, check healthcare coverage, and consider downsizing expenses or housing.
Does the report explain how property will be divided?
No. It says laws differ by state and recommends legal advice. The outcome depends on jurisdiction, assets and individual circumstances; the article does not determine anyone’s rights.
Can someone keep a former spouse’s health insurance after divorce?
The article says this depends on the health policy and applicable regulations. Readers need to ask their insurer or benefits administrator about their own coverage and available alternatives.
Are the savings statistics independently verified here?
The supplied source does not name the studies or survey behind its figures or provide enough methodological detail to verify them. The statistics are attributed to the Sixty and Me report, with their limitations stated in the article.
Source: sixtyandme.com
