A major curveball in retirement preparedness: divorce

Oct. 5, 2024 - Business Insider

Monthly Social Security checks aren't enough for most baby boomers to get by, further fueling a retirement crisis. A prenuptial agreement can be helpful, but it typically doesn't protect wealth built after the couple ties the knot, like retirement savings.

Men's monthly retirement incomes are nearly $600 more than women's — $2,610 to $2,042 — and they're more likely to have a balance in a retirement account. Overall, divorced women like Clark see lower monthly retirement incomes than their male counterparts — and peers who have remarried.

One of Mintzer's greatest divorce regrets is that she didn't safeguard her retirement savings...