It’s said that grey divorce is on the rise. Around a quarter of divorces are marriages that were twenty years or longer. Thirty years ago, it was around one in five marriages. And while it might not be a huge difference, there’s one thing that has changed since the 90’s. Wealth. There’s a lot more wealth in housing and superannuation than there was back in the 90’s.
While a divorce earlier in life might potentially be ruinous, later in life there’s usually more of an asset base there. A house, superannuation, and other investments. In some cases, it won’t be luxury, in other cases it certainly will. Either way, it splits and in one aspect it’s somewhat similar to the passing of a partner. One person now has full accountability for their life and the assets they are left with.
What comes next is up to the person. One of the options, whether divorced or widowed, is whether they head down the relationship path again in the future. Some people will never pursue one again. Some people may take their time. Some people may get straight back out there.
As advisers we see the impact that financial changes and optimisation have on peoples’ lives. It does take courage to walk in the door of a financial adviser and be prepared to delegate your affairs. It’s unfamiliar, but so are most financial decisions. Courage is required to take any new financial decision because the unknown means some won’t work out for the best. It’s hard to be wise when you really don’t know.
Red the full “Blended” post.
This represents general information only. Before making any financial or investment decisions, I suggest you consult a financial adviser to take into account your personal investment objectives, financial situation and individual needs. Anyone looking to build a portfolio should seek financial advice to find out which strategy is right for them, if you are a high net worth investor looking financial advice then you should consider a financial adviser with high net worth experience, they can help you identify your goals and put in place a reliable strategy to pursue them.
