'Gray divorce' for Gen X and Boomers is skyrocketing: 5 money mistakes to avoid before they derail your retirement

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'Gray divorce' for Gen X and Boomers is skyrocketing: 5 money mistakes to avoid before they derail your retirement

//travel-leisure.news-articles.net/content/2025/ .. to-avoid-before-they-derail-your-retirement.html

Published in Travel and Leisure on Saturday, May 24th 2025 at 3:26 GMT by Fortune
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

Although it might be tempting to avoid legal fees, going without professional guidance could cost you more in the long run.

The article from Fortune, published on April 8, 2025, discusses the financial challenges faced by Generation X and Baby Boomers undergoing "gray divorce," highlighting five common money mistakes to avoid. These include not updating estate plans and beneficiary designations, failing to consider the long-term financial impact of splitting assets, neglecting to account for increased living expenses post-divorce, overlooking the potential loss of spousal Social Security benefits, and not seeking professional financial and legal advice. The piece emphasizes the importance of thorough planning and consultation to mitigate the economic repercussions of late-life divorce, ensuring a more stable financial future for both parties involved.

Read the Full Fortune Article at:
[ https://fortune.com/2025/04/08/gray-divorce-gen-x-boomers-5-money-mistakes-to-avoid/ ]