{"id":360470,"date":"2026-01-09T07:24:23","date_gmt":"2026-01-09T07:24:23","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/360470\/"},"modified":"2026-01-09T07:24:23","modified_gmt":"2026-01-09T07:24:23","slug":"brits-considering-divorcing-their-partner-issued-7k-retirement-warning-personal-finance-finance","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/360470\/","title":{"rendered":"Brits considering divorcing their partner issued \u00a37k retirement warning | Personal Finance | Finance"},"content":{"rendered":"

New research has found that later-life divorce has a significant impact on people’s finances, with family lawyers uncovering that more than 200,000 people who divorce after the age of 50 are forced to delay their retirement<\/a>. As a result, L&G, a UK financial services group, conducted 2,750 online interviews with divorced Brits, including 471 who had divorced after 49 years.<\/p>\n

The company’s findings uncovered that a quarter of people who divorce after 50 find it more challenging to rebuild their savings “because they are past their peak earning”. While 13% believe they will “never financially recover” as a result<\/a>, the experts are warning people to prepare themselves for the major change and organise their finances<\/a> to ensure that they are not left struggling.<\/p>\n

Lorna Shah, MD Retail Retirement, L&G, said: “Retirement incomes are being stretched further than ever as people live longer and often enter retirement without sufficient savings. A divorce can make this challenge more complex.<\/p>\n

“Our research shows that separating later in life can influence both immediate finances and longer-term plans. With less time to rebuild savings, many people adjust their expectations: delaying retirement, downsizing their home, or accepting a smaller income than they’d planned for.”<\/p>\n

The company found that on average those divorcing “later in life” found that their incomes fell by \u00a37,753 in the year following their divorce, which can have a big knock on effect on their retirement.<\/p>\n

Findings also revealed that those who divorce over the age of 50 expect to live on a lower income in retirement than originally planned, while a third have to downsize their home<\/a> as a result.<\/p>\n

Fortunately, there are ways you can secure your financial future.<\/p>\n

Ms Shah added: “However, there are positive steps people can take to protect their financial future. Pensions are often one of the most valuable assets a couple has and should be considered in the same way as the family home during a separation.<\/p>\n

“Only 8% of people who divorced after 50 sought advice on this, yet expert guidance can help ensure decisions are balance and that both partners understand the long-term implications.”<\/p>\n

The expert advises that those going through a divorce at any stage of life should begin by setting a realistic budget that accounts for new living expenses, legal fees, shared debts, and any ongoing commitments.<\/p>\n

Ensure that you have a “complete understanding” of any costs you’ll incur during the divorce and that it covers everything, such as a Clean Break Order, and that protects your finances in the future.<\/p>\n

Another check you should make sure to do is a review of all your assets, including pensions, “to ensure that nothing is overlooked in the settlement”. And finally, the expert advises that any important documents, including a will and life insurance policies, be updated to reflect the named beneficiary’s new circumstances.<\/p>\n","protected":false},"excerpt":{"rendered":"New research has found that later-life divorce has a significant impact on people’s finances, with family lawyers uncovering…\n","protected":false},"author":2,"featured_media":360471,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[84,138280,138281,138278,4176,23172,138276,37690,138279,138275,5107,138277,4174,4175,4204,4272,3668,56,54,55,138282],"class_list":{"0":"post-360470","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-business","9":"tag-divorce-advice","10":"tag-divorce-warning","11":"tag-family-law","12":"tag-finance","13":"tag-financial-advice","14":"tag-financial-impact","15":"tag-financial-independence","16":"tag-later-life-divorce-advice","17":"tag-later-life-divorce","18":"tag-pension","19":"tag-pension-advice","20":"tag-personal-finance","21":"tag-personalfinance","22":"tag-retirement","23":"tag-retirement-planning","24":"tag-savings","25":"tag-uk","26":"tag-united-kingdom","27":"tag-unitedkingdom","28":"tag-warning-for-divorces"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/360470","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=360470"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/360470\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/360471"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=360470"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=360470"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=360470"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}