International Women’s Day is the perfect time to address the "gray divorce" trend—a reality where one-third of divorcing adults are now 50 or older. While a 45% drop in standard of living is a daunting statistic for women in this demographic, this transition also serves as a powerful catalyst for reclaiming independence and shaping a future that reflects your personal values. Financial advisor Lee Colvin joins host Bryan Barrett to discuss how to navigate these economic shifts with confidence and resilience.
Building a secure second act requires a shift from feeling overwhelmed to feeling empowered through tactical financial planning. This conversation breaks down the essential steps for post-divorce stability, from auditing assets and debts to understanding your rights regarding spousal Social Security benefits. Whether you are recently single or planning your next chapter, you will learn how to build a flexible financial plan that protects your retirement aspirations.
Key Takeaways:
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The Reality of Gray Divorce: Understanding why 36% of divorcing adults are over 50 and the unique economic impacts on women
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Financial First Steps: Why you must list all assets, debts, and expenses to gain immediate control over your situation.
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The Safety Net: The importance of building a 3-to-6-month emergency fund in a liquid account
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Hidden Benefits: How to determine if you are eligible for Social Security benefits based on an ex-spouse’s record.
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Future Proofing: Updating estate plans, beneficiary designations, and long-term care insurance to preserve your wealth.
