Don’t Let ‘Gray Divorce’ Ruin Your Retirement
Interesting article over at New Retirement about divorcing after 50. Blah Blah,
Couples have it made when it comes to financial advantages. With more than one source of income and the ability to split expenses, financial burdens can be more easily met by couples compared to single people. Additionally, there are tax advantages, as well as Social Security incentives for married couples.
Single people, on the other hand, have to carry the full burden of mortgages, rents, living expenses and insurance by themselves.
“Social Security was designed during an era when most elders were married, a scenario that is less common today and is likely to be even less typical in the future,” the study reads. “In fact, the decline in marriage is linked to reduced spouse and widow benefit eligibility for Social Security among women.”