While the overall divorce rate in America has declined over the past 30 years, it has skyrocketed for older couples, tripling for women age 55 to 64 and increasing six-fold for women 65 and older. In this second episode of the Retirement Repair Shop, Stacy Francis, divorce expert and founder of boutique wealth management firm Francis Financial, discusses the reasons behind this trend and the financial implications of late-in-life divorce. Learn how financial advisers can assist women as they negotiate the financial challenges during and after a divorce and empower them to build a secure financial future.
2:30 - Stacy's background and inspiration
5:00 - The persistence of a gender imbalance in talking about money over generations
7:15 - The surge in gray divorce
11:00 - Silver linings from the pandemic
14:00 - Financial advisors handling divorce
17:00 - Specialists for helping sort out finances in a divorce
19:00 - The effect of new tax treatment on alimony/spousal support
21:30 - Nuances to dividing assets equally, especially tax impacts
24:30 - The disparity between married women and divorced women's retirement confidence
27:00 - The family home pitfall
28:45 - The risk of not investing
31:00 - The mortgage process for the post-divorce home
33:00 - 3 different divorce models
36:15 - Background on Savvy Ladies, Stacy's nonprofit
This episode is sponsored by Transamerica.
For more information, and tools on how you can support female clients on their journey to and through retirement visit www.transamerica.com/women-and-investing