It’s fairly well accepted that everyone fudges the truth a bit when it comes to on-line dating. Maybe you use a profile picture taken last decade, list your body type as “athletic” when “a few extra pounds” is more accurate, or claim to love literature when the last thing you read was a cereal box. But there are a lot more serious lies being told on on-line dating sites, resulting in real damage.
Are you and your ex still working out your property settlement? Do you co-own a house that one of you wants to keep? If so, someone has to buy out the other. And that’s when the fun begins.
Think you know the basics of Social Security and the benefits you’ll be entitled to? MassMutual surveyed 1500 Americans, and only 28% got a passing grade.
If your Divorce is completely final, and the distribution of assets is already locked, well, we can’t help you. But if you’re still in the process, or you’re Di-Curious, you need to get educated on how to protect yourself financially in your Divorce.
Good advice for anyone Over 50, whether Divorced, happily married, or somewhere in between: Do not let your adult kids ruin your retirement.
According to the Statistic Brain Research Center, the average savings of a 50 year old is $42,797; 38% of Americans don’t save anything for retirement; and 36% of Americans over 65 rely entirely on Social Security for their income. These are not good numbers.
Did you know you can start receiving your Social Security as young as 62? (not a good idea unless you absolutely have to). And that if you take it early, and are still working, you pay a tax penalty? (see, it’s really not a good idea). Here’s a concise piece from the “Dummies” folks with more detail…
Walter White had a great retirement plan — well, except for how he accumulated the funds. The vast majority of Americans, however, are woefully unprepared for retirement. Add the financial effects of going through a divorce, and many of us are looking at working longer, living on less, or both.
A Divorce Over 50 quite often means dealing with much more complicated financial issues than those faced by younger couples. Many people in our demographic have built up retirement plans, acquired real estate, maybe even own a business. Here’s a very thorough article highlighting the different financial factors most Over 50’s need to consider when going through a divorce.
Personally, I find it hard to believe I’m merely a handful of years from being eligible for Social Security. Maybe you feel the same way.
Did you know that if your marriage lasted at least ten years, you may be able to receive benefits based on your ex-spouse’s earnings? And did you know that if your ex-spouse has died, you may be able to collect a survivor benefit?
Below the jump, I’ve excerpted a section from an investment email I receive. It makes no sense to credit the firm that sent it to me, and since they don’t say who really wrote it, I can’t credit them. But do take a look, as it’s important information that could make a difference for your financial future And if you have questions, post in the Comments section and we’ll see if the community can respond…