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Baby Boomer Break Ups

Photo credit: FoxBusiness.com

Why are so many Baby Boomers divorcing? An article  by Casey Dowd for the column ‘The Boomer” interviews Karen Stewart, a divorce and relationship expert, on this topic. Stewart answers questions that cover, for example, the most common reasons for splits among the age group, how Baby Boomer’s can protect their wealth and children, and if she believes the trend will continue.

When there is a lot of money in marriage, divorce is a reasonably easy financial solution because when it comes to dividing the assets, there are enough for both parties. Marriages with not a lot of money tend to be more financially strained which can lead to stress and increase the risk of divorce. The baby boomer generation is hit most by those extremes.

To read the interview in its entirety, click here.

Social Security and Divorce

From Money Mondays with financial expert Katrina Semmes:

“If your marriage lasted a minimum of 10 years and you aren’t planning on walking down the aisle prior to filing for your Social Security benefits, you may qualify for spousal benefits based off of your ex-spouse’s record. So what if your ex-spouse remarried? According to Social Security Administration, it doesn’t make a difference. The amount of spousal benefit that you would qualify for would not affect your ex-spouse’s benefits (they actually won’t even know unless you choose to tell them).”

Click here for the full article.