Source: How to Qualify for Innocent Spouse Tax Relief: 3 Steps
Category: Blog
These Women Prove Going Gray Can Be Truly Glamorous
More reason to say bye to that dye!
What Divorce After 50 Means For Your Retirement – WIFE.org
It’s always so frustrating when you realize that now that you’ve gone through a Divorce (or even after death of your spouse), things change drastically with regards to your upcoming Retirement. When you are going through your divorce some of the things you need to consider are:
- Women Have Less Income to Save
- Loss of the Home
- No More Shared Costs
- Women Need to Be Financially Smart After a Divorce
In 2013, the National Center for Family and Marriage Released a surprising study that showed divorce rates between adults 50 and older have doubled between 1990 and 2010. Now, 1 in 4 divorces in the United States are between couples over 50. On some level, this is good news. It means that the lower stigma …
Source: What Divorce After 50 Means For Your Retirement – WIFE.org
10 reasons WHY small businesses should work more closely with an accountant…and Prosper in 2015 – Ahlstrom Advantage
Pros·per (verb) succeed in material terms; be financially successful. “his business prospered” flourish physically; grow strong and healthy. We don’t think about it, but TO PROSPER should definitely be at the top of the priority list. Isn’t it why we got into business in the first place? When the small business owner is first starting out […]
Can this Retirement be Saved?
CAN THIS RETIREMENT BE SAVED?
After your DIVORCE, with too little saved? I don’t know about you, but I know about me – after I went through my divorce I was back to ground zero. Everything that we had accumulated during our marriage suddenly disappeared. Since my ex had quit his job we only had my income and it didn’t even cover our living expenses. We went through so many financial situations as a result:
Bankruptcy
Short-sale of our house
Lack of Income due to my ex’s unemployment
Because of all these problems, we went through our entire retirement portfolio along with my inheritance from my mom. It sure wasn’t very much fun.
I’m receiving spousal support now, but only for another 8 years and then all I will have – unless I do something now – will be my Social Security! And that won’t even cover my rent & utilities.
I’m not alone. So many of us are experiencing the same scenarios. Just like Debbie Smith, 61, in this recent article in the AARP Bulletin. She also experienced a divorce which put her in a precarious position. She was unprepared “for the next year, let alone retirement.”
She says, “A divorce is devastating to your finances, especially when you divorce later in life.” “You have less time to recoup that loss.”
Some of the suggestions that are made in the article are:
- Plan to work as long as you can
- Lower your spending, get used to a more modest lifestyle
- Save as much as possible and plug anything you can into your retirement
- Delay taking Social Security as long as possible
You can read more about Debbie Smith and 4 others in the AARP article below.
Source: Retirement Issues and Solutions – Social Security, 401k, Divorce – AARP