When a marriage reaches its 50th anniversary in Florida, it is often referred to as a ‘golden anniversary.’ But for many couples, reaching this milestone can be the beginning of the end. If you are considering divorce after 50 or are in the process of one, you are definitely not alone. However, as a woman, there are certain challenges you may face that are unique to your situation.
Financial security
One of the biggest challenges facing women undergoing grey divorce is financial insecurity. After years of being out of the workforce or working part-time, it can be difficult to re-enter the job market and earn a livable wage. And, if you have been a stay-at-home parent, you may not have any retirement savings of your own. This can make it difficult to establish financial independence after divorce.
Child custody
If you have minor children, custody can be a major issue in your divorce. Even if your children are adults, they may still need your support. And, if you have been a stay-at-home parent, you may not be able to continue in that role after divorce. This can make it difficult to maintain a close relationship with your children.
Health insurance
Another challenge facing women who divorce later in life is the loss of health insurance. If your husband was your primary source of health insurance, you may be left without coverage. This can make it difficult to afford medical care and prescriptions.
There are a few things you can do to protect yourself financially in a grey divorce. First, if you were not working during your marriage, try to re-enter the workforce as soon as possible. This will help you build up your own retirement savings and establish financial independence. Second, try to negotiate a fair child custody arrangement to help you maintain a close relationship with your children and ensure that they are taken care of financially. Finally, make sure you have health insurance coverage.