Being in your 70s, you know that you have lived a long life, but you have no intention of slowing down. You’re still active in your community, enjoy traveling and generally enjoy getting out of your comfort zone.
Throughout the years, your spouse has been a strong support of all your goals and aspirations, but now they’re trying to settle down. Even though you’re still in good health, they have seen theirs falter, and they are not able to keep up with the activities you love.
Unfortunately, this has bred resentment, and both of you are now looking into a divorce. At 70, though, is that really a good idea?
Divorce over 50 is increasing, though the issues are complex
Everyone deserves an opportunity to be happy, whether that means separating, divorcing or taking steps to stay together. If you do want to divorce, it’s important to approach it realistically at your age. There is a potential that one person may receive permanent alimony due to the length of your marriage and other factors, and you may find that it is more difficult to separate if you have a smaller income than in the past.
That being said, there can be healthy outcomes for people who divorce at this stage of their lives. Some feel relief or peace being able to live the way they want in their golden years. Others find it enjoyable to look for love again or to spend more time doing the things they love without restriction.
Gray divorces are more complex, because you have to consider separating years’ worth of assets, retirement accounts, savings and other financial holdings. There may be other considerations as well, such as who will retain the family home or how to divide a pension that once supported a single home but now needs to support two.
Not all people end up divorcing at this late age, but even a separation should be addressed legally. If you’re interested in looking into your options, your attorney will be able to go over them with you. There are issues that may crop up, but good planning could help you separate and divorce in a positive, sustainable way.