Experienced Lawyers Providing Trusted Advice

Post-divorce life for seniors: How much money will you need?

On Behalf of | Sep 6, 2017 | Family Law |

A million bucks.

And for discussion purposes, let’s make that net.

Now here’s a question, posed to a baby boomer-aged Connecticut resident who is currently going through the divorce process, or contemplating a marital dissolution: Will that amount adequately tide you over during retirement years and for the rest of your life?

Some readers of our blog who qualify as respondents in that hypothetical might avidly answer that, “yes, I’ll take that, thank you very much,” believing that a stash that size will unquestionably serve them well all the remaining years of their lives.

Others might be a bit more hesitant, knowing that there are some as-yet unknown variables that could play out in the future, such as health care costs.

And others might flatly scoff at the notion, knowing that they would blow through that amount in a relatively short amount of time.

Obviously, there is no definitive answer to the question, given that the material facts and considerations relevant to every divorce in Connecticut and across the country are unique.

Here’s something to know, though, that a proven family law attorney with a deep well of experience representing diverse parties in divorce would be sure to pass along to a client: The lifestyle you were accustomed to during marriage can continue to be a relevant factor as you negotiate divorce terms. That is, there is certainly a likelihood that how you lived will influence how you will live in your post-divorce world.

That reality can be comforting in a case where, say, a stay-home parent who gave up a career to run the household and was supported through the wages of well-paid spouse is now a bit worried that penury might set in following marital dissolution.

A number of factors can influence financial realities for a divorcing person about to embark on a new journey in life. Knowledge and related assurances regarding them can be promoted through a candid and timely discussion with a seasoned family law attorney.