Coping with Divorce after 50 - Gray Divorce

More and more older couples are discovering that they no longer see eye-to-eye.  In fact, while the overall divorce rate in the United States has decreased since 1990, it has actually doubled for couples over the age of 50!  This trend has come to be called gray divorce, and it is creating serious problems for many baby boomers.

According to a report in the June 2012 issue of the AARP Bulletin entitled "Life After Divorce" approximately one in three baby boomers will be unmarried during their senior years, sometimes because of death, but often because of divorce. 

Reasons Older Couples Divorce

You may have read about two giant turtles at an Austrian zoo that have been inseparable for the past 115 years ... until recently.  Now they cannot be left alone in the same cage.  She even bit him and took a large chunk out of his shell!  If this kind of disharmony can occur in animals after many years, the same can happen with humans.  In addition to general irritability with one another, after the children have been raised some couples feel there is no longer a reason for them to stay together.  They want to try new things and explore new opportunities.  In other cases, working women in unhappy relationships have discovered that they do not have to stay married.  They are capable of supporting themselves.

Consequences of a Late Divorce

The consequences of a divorce late in life can be serious.  The couple must split their assets, and this can create financial hardship for both the husband and wife.  Because they are older, they also have less time to recover financially.  The home may be sold, and the equity divided.  Neither person may have enough assets to buy another home like the one they shared together. 

Women in particular, who often earn less money than men and have a greater life expectancy after retirement, are at a much greater risk of poverty.  An extra burden on women, in particular, is that they often end up as caregivers for their own parents or elderly relatives. 

However, late divorces can create stressful living situations for men, as well.  If the men have not stayed close to their children over the years, they can sometimes end up alone, with no one to take care of them as they age.  Currently, according to the AARP article, up to half of the 5.4 million people who have been diagnosed with Alzheimer's Disease have no identifiable caregiver!

Coping with Gray Divorce

Unlike turtles, humans are coming up with creative solutions to resolve some of the problems that come up when they no longer want to live with their spouse.  In some cases, divorced Baby Boomers are intentionally moving in with their elderly parents.  This provides them with a home, and enables them to be caregivers for their parents.  Other divorced Boomers are taking in boarders, or moving into roommate situations.  There are also retirement villages where older singles can own their own separate condos, but have a community of friends who will help them out, when necessary.  Low income divorced seniors can apply for senior housing, although there is a waiting list for it in many areas.

As difficult as these transistions can be as people age, many Baby Boomers are finding that they are able to survive and even thrive after a late in life divorce.  How things work out for any one individual often depends on how well they have prepared for this possibility.

If you are interested in more helpful articles for Baby Boomers, use the tabs or pull down menu at the top of the page to find links to hundreds of additional articles about retirement planning, financial issues, changing family relationships, or where to retire.

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No Choice But Early Social Security

Many people have spent decades working hard and carefully planning for their retirement years.  Often they have held responsible jobs, paid into Social Security, had a pension or a 401K, and taken other steps to assure themselves that they could spend their retirement years painting, traveling or doing whatever they want.

What If You Are Forced Into Early Retirement?

When the Great Recession came along, many Baby Boomers lost their jobs; they spent their savings in order to survive; they lost much of the equity in their homes, and perhaps even lost their homes, too.  In far too many cases, their only choice was to begin collecting Social Security at age 62 instead of being able to wait until they turned 66, 67 or, even better, age 70.

In the blog post, Lies and Liars: The Retirement Lie, you can read the story of Ms. Clare Keany, a resident of Palm Springs who shared her personal situation in a New York Times story called "Forced to Early Social Security, Unemployed Pay a Steep Price."  Ms. Keany felt disappointed and discouraged when she shared her story.  She believed she tried to do everything right, and was cast aside when the recession hit and she lost her job.  She went through her savings and is now struggling to get by on a below average amount of Social Security.

Ms. Keany is not the only one who feels this way.  Many Baby Boomers have been put between the proverbial rock and a hard place.  Often they feel that they did everything that was expected of them, and they still will not be able to have the comfortable retirement they had planned.

Issues Faced By Millions of Baby Boomers 

When people are in their late 50's or their 60's, it can be very difficult to recover from an economic setback. Here are some of the issues that they sometimes face:

*  It is sometimes more difficult for Baby Boomers to find new employment than it is for younger adults.
 
*  They tend to remain on unemployment much longer. 

*  Once they run out of unemployment benefits, many unemployed Baby Boomers feel they have no other alternative than to begin collecting their Social Security benefits early.  The unfortunate consequence of this is that their benefits will be permanently reduced by about 20% or more.

You May be Able to Turn Things Around

If you are one of those retirees who has been forced into early retirement, you may feel that you are doomed to spend the rest of your life in poverty.  While this may be very discouraging, there are a few things that you can do to improve your situation:

*  Even though you are already collecting your Social Security benefits, you can still work part-time.  Once you have reached full retirement age, you can even work full time and receive no decrease in your retirement income.  Millions of Baby Boomers have found it helpful and rewarding to go back to work in their retirement years.  Don't pass up an opportunity to go back to work, even if you are already collection your Social Security benefits.

*  Your Social Security benefits, even if they are small, may allow you to have enough of a basic income that you can try other occupations that you never thought were possible when you were younger ... working for a non-profit, selling your artwork, baby-sitting, or trying an entirely new career.

*  If your income is low, you may discover that you are entitled to other benefits that you may not have considered.  Talk to both your local Social Security office and social services department to find out if you are eligible for SSI (Supplemental Insurance Income), food stamps, Section 8 housing vouchers, financial aid to cover your Medicare premiums, or similar programs.  Do not be embarrassed to accept this extra assistance.  You have contributed to these programs all your life and now there is no reason to hesitate to use them.

With a little patience and creativity, you can recover from a forced early retirement. 

If you are looking for more assistance with your retirement planning, use the tabs or pull down menu at the top of the page to find links to hundreds of additional articles on where to retire, financial help, medical issues that can arise, changing family relationships and more.

You are reading from the blog: http://www.baby-boomer-retirement.com

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Part-time Retirement Jobs for Baby Boomers

As 10,000 Baby Boomers a day turn 65, many of them are concerned about how to make ends meet after retirement.  If your Social Security benefits will not provide all the income you need, and your savings have been depleted because of stock market losses or high medical bills, one post-retirement option is to get a part-time job.

Part-Time Jobs Can Make Retirement Easier

Most retirees hope to relax, enjoy their retirement years, and have fun once they begin to collect Social Security. This does not mean that you can't have a part-time job at the same time.  In fact, if you find a retirement job that you enjoy, you will see it as one more way to keep involved with the outside world and have fun in your retirement years.  The extra money will also reduce your financial stress and make it easier for you to travel or indulge yourself in other ways.

After Your Full Retirement Age You Can Work and Collect Social Security Simultaneously!

The good news about working after retirement is that, once you reach your full retirement age of about age 66 to 67, you can collect your full Social Security benefits AND work at the same time, without a reduction in your benefits.  For many people, this means that the combination of a part-time job with their Social Security benefits will earn them an income equal to what they had been earning by working full-time before they retired.  In this way, you will not need to reduce your standard of living, even though you cut back on the amount of hours you spend working each week!  How's that for a cheerful thought?

In addition, if you had some low-earning years in the past 35 years that you worked, your new job could actually replace those low-earning years in your Social Security calculations, resulting in higher Social Security benefits!

What Type of Part-Time Job Should You Get?

One way to choose a part-time job is to look carefully at what you are doing now.  Would you enjoy your current job more if you were able to cut back your hours and only work part-time?  Many people chose their current careers because they found them interesting.  However, as they have gotten older, the physical and emotional toll of working full-time may be too much for people in their 60's.  If your present employer will allow you to work part-time in your current position or a similar one, you may have found a great way to ease the transition into retirement.

If this is not acceptable to your current employer, you might be able to go to work for a similar company in your area.  Your experience could be of benefit to many smaller companies that cannot afford many full-time employees.

Why Not Try Something New?

On the other hand, you may want to do something entirely different.  Perhaps you have always dreamed of working in a little clothing boutique, an art gallery, a flower shop or a hardware store.  If so, this is the time in your life when you can indulge those dreams. Contact some businesses in your area, and apply for jobs.  If you have been working most of your life, you may have skills that small business owners will really appreciate.  Many companies appreciate responsible employees with a consistent job record and lots of experience.

AARP Suggestions for Jobs That are in Demand

If you aren't sure what kind of part-time job would work best for you, you may want to look at this list of suggestions from AARP.com.  According to them, these are examples of the best part-time job for workers over the age of 50:

Library Assistants
Bookkeepers
Home Care Aides
Handymen
Medical Assistants
Teacher's Aides
Bloggers
Youth Coaches / Umpires / Referees
Tour Guides and Tour Bus Drivers
Convention Center Jobs

As I looked over this list, I realized that I have actually held two of the part-time jobs after I reached full retirement age.  I worked for several years as a Special Education Teacher's Aide.  In addition, I am a blogger, and plan to continue blogging as long as I can move my fingers over the keyboard!  It's good to know that AARP considers these both good examples of post-retirement jobs.

More Ideas for Retirement Jobs

I recently wrote another article based on the US Bureau of Labor Statistics and their suggestions for jobs that will be in high demand in the coming decade.  It also contains ideas for how to use the talents and experience you already have to supplement your income.  Here is a link to that supplemental article:

Second Careers for Baby Boomers

If you are looking for a part-time retirement job or ideas for a second career, you will definitely want to read this article.

How to Find Retirement Jobs

Ask around among your friends and neighbors.  Our retirement community, for example, hires many of the residents to work as gate guards, office workers, bus drivers and security people.  Most of them only work two to four shifts a week, with each shift about four to six hours long.  These part-time jobs get residents out of their homes and gives them something to look forward to.  They earn an extra $500 - $1000 a month while getting to know their neighbors.  In addition, it helps our community, which has been listed as one of the safest small towns in our state!  When our community hires its own residents, it is a win-win situation for everyone.

If you are looking for more information to help Baby Boomers with their retirement planning, including where to retire, financial help, common health issues, changing family relationships and more, use the tabs or pull down menu at the top of the page to find links to hundreds of additional articles.

You are reading from the blog: http://www.baby-boomer-retirement.com

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Second Careers for Baby Boomers

During the 2007 recession, many Baby Boomers were forced into retirement sooner than they had planned.  While the employment picture has improved substantially since that time, a significant number of newly retired Boomers are discovering that it is difficult to survive on Social Security alone. 

As a result, retirees of all ages are frequently open to second careers and new business opportunities.  Going back to work in a new occupation that excites and interests you may be the best way to maintain a comfortable lifestyle, even if you have had to downsize and cut back over the past few years.

Baby Boomers often have experience, training and a history of being responsible that makes us desirable employees in many of the fields where there is still job growth.  We have the ability to compete successfully with new college graduates.  If you are planning to retrain for a second career and need a few ideas, listed below are the areas where you might find good job opportunities, according to the Bureau of Labor Statistics Employment Projections:

Retail Sales

There is still a large demand for retail sales people working in businesses that range from department stores to auto dealerships.  In fact, one good item of economic news is that U.S. auto sales are continuing to be strong in 2015.  If you are interested in sales, this can be an excellent choice for experienced Baby Boomers and great job opportunities may be as close as your local mall or auto dealership.  Are you under 65 and need affordable health insurance through an employer that pays most of the cost?  Consider working for Starbucks.  They take pride in the fact that they offer health insurance to any employees that work at least 20 hours a week.

Health Care

You do not need to plan on becoming a doctor or registered nurse in order to benefit from the growth in the health care industry.  By attending a community college or vocational school for one or two years, you can complete a certificate program as a medical assistant, nursing aide, vocational nurse, medical technician or medical secretary.  Home health aides require only a few weeks of training, and many Baby Boomers already have had life experience caring for an elderly person in their home.  This makes them a more desirable employee in many cases than a young adult would be.

Childcare Workers

Because so many women need to work in order to help their families financially, there is a tremendous need for childcare workers.  Some older people have opened childcare services in their homes; others work for preschools; still others have become bonded babysitters, working through a babysitting service.

Accounting or Tax Preparation

A number of people who worked as accountants or bookkeepers before retirement may discover that there are opportunities for them to freelance in these same businesses during a period of semi-retirement. Check with job listings in your area, or approach local businesses and see if they have a need for a part-time bookkeeper or accountant.

If you would like to work part of the year, you can also be trained to be a tax preparer.  Contact H&R Block or other tax preparation companies in your area to find out about their training programs. 

Substitute Teachers

In some states, substitute teachers in public schools are required to have a college degree, but not necessarily in education.  You may have to pass a state examination to get an emergency credential or meet other requirements.  However, this can be a high paying part-time job.

If you are not qualified to work in the public school system in your state, check with private schools or pre-schools, both of which have more freedom in choosing their substitute teachers.

Other School Jobs

Many retirees who have worked in the past in other occupations have found that it is very rewarding to work as school bus drivers or crossing guards.  Others find part-time work as teacher's aides.  If you want to work with children and possibly earn credit towards a small state pension in the future, it could be very beneficial to work at a school in your community.

Pet Groomers and Trainers

Do you have a way with animals?  You might enjoy working part-time as a pet groomer.  Another possibility is to advertise your pet training services in your local newspaper.  Offer classes in pet behavior or provide private training.

Share Your Talent with Others

If you are an artist, enjoy making crafts, sewing or can work with wood, you may be able to make gift items and sell them at local fairs and festivals.  You might also give lessons to others.  In either case, it can be a fun way to earn a little extra money.  

Public Service

If you have spent years doing volunteer work in your community, you may want to check with Encore.org about job opportunities with non-profit organizations in your community and around the world.  Even people in their 70's can join the Peace Corp.  You may also want to work with Teach For America or a wide variety of non-profit organizations in your neighborhood.   The pay may be low when you work for a non-profit, but the emotional rewards can be great.

There are Opportunities all Around You

Although you may have retired sooner than you planned during the "Great Recession," it is possible that you may find a new career that will help you make your Golden Years a little more golden.  Any of these jobs can provide you with a little extra income and could even add to your pension or Social Security benefits.

If you are interested in learning more about financial planning for retirement, where to retire, health issues that could arise and changing family relationships, use the tabs or pull down menu at the top of the page to find links to hundreds of additional useful articles.

You are reading from the blog: http://www.baby-boomer-retirement.com

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