Late-in-Life Divorce: Embracing New Beginnings

“I divorced later in life. Will I still be able to retire comfortably?”

Can I still retire with a comfortable lifestyle after a divorce?

Senior Business Woman Standing

Jess

Age: 59

Profession: Opthamologist

Jess experienced a late-in-life divorce after her kids were out of the house. The divorce made her realize she’d really like more time for friends, passion projects, traveling, and building a new life.

The Issues

Jess lost assets during the divorce.

Though she and her ex-husband worked hard and saved diligently, the divorce cost her significant assets. Jess isn’t sure her remaining assets will be enough to fund her desired lifestyle.

She’s worried she’ll have to delay retirement or give up on some of her dreams.

Traditional retirement advice often clings to the outdated “4% rule,” which means Jess would only be able to withdraw 4% of her portfolio each year and make up the difference by working or lowering her lifestyle.

Another option would be to try to grow her portfolio aggressively by chasing bigger returns and taking dangerous risks with crazy ideas and fads.

Jess is eager to retire, but not if she has to give up the lifestyle she’s worked hard for.

She’s not sure how to maximize her retirement income with her current savings.

Jess realizes that she needs professional help figuring out her next steps.

That’s where we stepped in.

The Plan

Maximize retirement income while mitigating as much retirement risk as possible.

After reviewing Jess’ situation, we were able to give her the “ok” to retire.

Our approach to Jess’ retirement is easy to understand: we used our step-by-step Lifetime Wealth BlueprintSM process to generate as much reliable income as possible without chasing big returns that could put her whole retirement at risk.

Her plan is a simple one-page income blueprint that’s easy to understand and shows them exactly how much money she’s expected to have in each year of retirement.

Under the hood, it’s much more complicated, but we break each investment decision down into simple principles and logical steps so she can understand the reasoning and make informed, collaborative decisions about their portfolio.

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The Results

Jess is happily retired and spends part of each year volunteering with the Himalayan Cataract Project in Nepal. She lives very comfortably and is grateful that she was able to retire and gain freedom over her time.

Jess checks in with Michael virtually throughout the year when new opportunities arise or decisions need to be made. She always asks a lot of questions so she can be an active partner and make informed decisions. Otherwise, she doesn’t think about the plan at all.

By creating a step-by-step roadmap to her retirement and showing her where her income was coming from each year, Jess was able to build the confidence she needed to pull the ripcord and move on to an exciting retirement.

Would you like to learn more about how the Lifetime Wealth BlueprintSM process helps generate reliable income?

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Note: the above case study is hypothetical and does not involve an actual client. No portion of the content should be construed by a client or prospective client as a guarantee that they will experience the same or certain level of results or satisfaction if Ginsberg Financial Strategies is engaged to provide investment advisory services.