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The secret retirement threat

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  • The secret retirement threat

    Not only a women's issue, but primarily. The statistics are pretty scary: Divorce is Destroying Retirement. btw, I kind of disagree with the advice on splitting assets. Remember - even if you are a doctor with a solid marriage, this can happen to your parents and can be especially devastating to female Baby Boomers. ...at which point, you financial help may be necessary.
    Our passion is protecting clients and others from predatory and ignorant advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

  • #2
    Divorce can certainly derail retirement plans. Very hard on children as well. If things aren't going well at home, work on your marriage!

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    • #3
      Isn’t divorce less common in highly educated people? Esp doctors do they get divorced often? I don’t think I know any
      I know a LOT of them in unhappy ( or partially happy) marriages but not divorced

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      • #4
        I thought the surgeon stereotype was 3 ex wives

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        • #5
          I actually know 2 different surgeons with 3 ex wives.

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          • #6
            I think she’s talking about the effect it could have on us with a parent getting divorced and then needing financial help. My parents were divorced when I was in college. Neither is necessarily living the life of luxury but should be in good enough shape to sustain themselves. My wife’s parents are comfortably retired so it appears we’ve been (so far) lucky.

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            • #7
              Originally posted by Lordosis View Post
              I actually know 2 different surgeons with 3 ex wives.
              Well, anecdotally female surgeons have ex husbands. Actually, more likely (1.5x). Just not in the circle of acquaintances probably. Most of them do extremely well if they were married to a non physician.
              https://hms.harvard.edu/news/doctors-divorce

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              • #8
                For physicians, wonder if there are different rates of divorce across different ethnicities.

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                • #9
                  Originally posted by nastle View Post
                  Isn’t divorce less common in highly educated people? Esp doctors do they get divorced often? I don’t think I know any
                  I know a LOT of them in unhappy ( or partially happy) marriages but not divorced
                  FWIW, my wife (also a physician) and I are both divorced from other physicians.

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                  • #10
                    Originally posted by BruinBones View Post

                    FWIW, my wife (also a physician) and I are both divorced from other physicians.
                    The best tale is when the wives swapped husbands. Literally went to work and returned to a new life, dog and kids.
                    https://tht.fangraphs.com/tht-live/4...fe-swap-story/

                    My question for you is, were you in the same group and still cordial?

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                    • #11
                      Originally posted by Lordosis View Post
                      I actually know 2 different surgeons with 3 ex wives.
                      I always thought they were brilliant! Proof! JK

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                      • #12
                        Originally posted by jfoxcpacfp View Post
                        Not only a women's issue, but primarily. The statistics are pretty scary: <a href="http://www.bloombergquint.com/markets/2016/10/17/divorce-is-destroying-retirement" target="_blank">Divorce is Destroying Retirement</a>. btw, I <em>kind of</em> disagree with the advice on splitting assets. Remember - even if you are a doctor with a solid marriage, this can happen to your parents and can be especially devastating to female Baby Boomers. ...at which point, you financial help may be necessary.
                        THANK YOU for posting this!
                        It is not the most important reason, but it is another reason to work on my marriage.
                        I love my wife!
                        I have a wonderful wife!
                        Regardless, marriage is hard and life is challenging but both life and marriage are worth working to make special and meaningful.
                        Last edited by Tangler; 08-20-2021, 06:12 PM.

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                        • #13
                          Originally posted by Tangler View Post

                          THANK YOU for posting this!
                          It is not the most important reason, but it is another reason to work on my marriage.
                          I love my wife!
                          I have a wonderful wife!
                          Regardless marriage is hard and life is challenging but both life and marriage are worth working to make special and meaningful.
                          Ha! Almost 5 yrs ago. You’re welcome. I admire your dedication to your wife and your marriage.
                          Our passion is protecting clients and others from predatory and ignorant advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

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                          • #14
                            Originally posted by jfoxcpacfp View Post

                            Ha! Almost 5 yrs ago.
                            Totally overlooked that.

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                            • #15
                              I'm glad to see this thread bumped up, because it is so important.

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