Retirement may seem so far away for those focusing on getting divorced right now. After all, navigating a divorce proceeding in Alabama requires a great deal of mental and emotional energy due to the many important decisions that must be made regarding the marital home or spousal support, for example. However, thinking about retirement is essential during divorce as well, as the decisions made during a marital split-up can have long-term implications for one's golden years.
Even if a divorce happens decades before a couple had planned to retire, it can still impact their retirement. In fact, a survey from the Insured Retirement Institute revealed that 24 percent of older individuals who are divorced reported being worse off during retirement as a result of getting divorced. Meanwhile, 23 percent said they expected to have to remain in the workforce longer due to ending their marriages.