Divorce is costly at any age, but couples who split between 40 and 55 years old often take an especially painful hit, decimating the funds they need for retirement. For many, it means selling a family home they’ve been trying to pay off and taking on mortgage debt again.
“A divorce in your 40s and early 50s can turn your financial world upside down,” says Karen Erickson, a certified financial planner who is an executive financial consultant at IG Private Wealth Management in Kelowna, B.C. She says a breakup for someone in Generation X “will have an impact on what kind of housing you can now have, when you
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