Grey Divorce

Novernber 2018 – ‘Grey Divorce’ refers to those over the age of 60 getting divorced later in life, often after children have left home and couples find they are not happy together. Divorce is devastating to your finances at any age, but later in life it can be even more so as there isn’t enough time, or perhaps ability, to replace income, assets, investments, CPP and private pensions lost as a result of having been divided with your spouse. The impact on your standard of living in retirement will likely be significant, so getting good advice and help (which may include a reality check) is crucial.