Grey Divorce after 50 Revisited: Why the Rules Completely Change with Financial Advisor, Sandy Adams, CFP

Send us Fan MailUnlock crucial insights into the growing phenomenon of gray divorce with our latest episode featuring Sandy Adams from the Center for Financial Planning. We'll unravel the complexities older adults face when contemplating a late-in-life divorce. From understanding the significance of healthcare insurance and Medicare eligibility to the intricacies of timing retirement benefits, Sandy shares indispensable advice that can shape a financially secure future. We dive into the nuances of Social Security, clarifying the difference between Medicare and Social Security benefits, and discussing options for reconsidering Social Security elections under specific conditions.In another enlightening segment, we take a closer look at equity conversion mortgages, offering a clear explanation of how loans against home equity operate. Addressing common concerns surrounding interest rates, home sales, and impacts on heirs, we aim to demystify this financial tool. We also spotlight the unique financial challenges women often encounter during gray divorce, such as higher poverty rates and the demand for long-term care. Sandy provides practical strategies to mitigate these risks, including long-term care insurance, asset leverage, and co-op living arrangements for mutual support. Tune in to discover how you can navigate the financial intricacies of gray divorce with confidence and knowledge.RESOURCESCLICK HERE TO LEARN MORE ABOUT SANDY ADAMS or email Sandy at [email protected] or call at 248-948-7900. CLICK HERE to learn more about ex-spouse benefits through Social SecurityDo you want to know what your Social Security benefits may be? You can set up your own free “My Social Security Account” with Social Security, CLICK HERE to set up today.For general, non-proprietary information about Home Equity Conversion Mortgages (HECM) and a simplified comparison table between a HECM and Standard Mortgage, CLICK HEREVisit us at https://www.roesslerdivorce.com/ to learn more about Jacki's practice and to find valuable resources for your case.Center for Financial PlanningThe Divorce Rich podcast is proudly sponsored by Center for Financial Planning: Striving to Improve Lives through Financial Planning Done Right! https://www.centerfinplan.com/DAWNDivorce Attorneys for Women: Michigan's Original Divorce Attorneys for Michigan