I'm 61 And Divorced. We Split $1.2 Million Evenly — Then, A Heart Attack Forced Me To Consider Social Security At 62

Core Insights - The article discusses the financial implications of divorce on retirement planning, highlighting how unexpected life events can alter financial strategies and timelines [1][6]. Financial Impact of Divorce - The divorce resulted in a split of retirement savings, leaving approximately $600,000 from an original $1.2 million, which necessitated a reevaluation of financial plans [1]. - Shared costs became individual responsibilities, leading to a more constrained financial situation and a need for immediate financial decisions [2]. Adjustments to Retirement Planning - The focus shifted from long-term retirement optimization to short-term financial stability due to unforeseen health issues, such as a heart attack that disrupted work and income [4][5]. - The original plan to delay Social Security benefits for higher monthly payments was reconsidered, emphasizing the need for flexibility in financial planning [5]. Practical Considerations for Older Adults - Recommendations for older adults post-divorce include scheduling health reviews to identify risks early, reevaluating insurance coverage due to rising costs, preserving liquidity for unexpected expenses, and carefully considering housing choices for future needs [8].