Core Insights - The financial implications of separation or divorce can lead to significant monetary challenges, which are often overlooked during such life events [1] Group 1: Divorce Costs - The median cost of divorce in the U.S. is reported to be $7,000, while the average ranges from $15,000 to $20,000, indicating that a few high-cost contested divorces are influencing the overall average [2] Group 2: Retirement Planning - A survey by Schroders indicates that 46% of Americans in workplace retirement plans expect to have less than $500,000 saved by retirement, despite believing that $1.2 million is necessary for a comfortable retirement [4] - Individuals facing divorce may find it challenging to secure a financially stable retirement, especially if they have minimal savings [3] Group 3: Expense Management - One effective strategy for reducing fixed expenses is to shop for better rates on home and car insurance, which can lead to significant savings, averaging $482 per year [5] - OfficialCarInsurance offers a streamlined process for obtaining competitive insurance quotes without affecting credit scores, making it easier for individuals to manage their insurance costs [6]