Tag Archives: Divorce

How Seniors can Cope with Financial Stress

A little while back I received an email from a woman who had come across this blog and, specifically, had perused posts tagged with the word “retirement.” She wrote me that “a combination of my father being downsized in his 60s and my mother falling ill have combined to seriously affect their financial planning for retirement and has exacerbated their health problems. They have inspired me to write a guide for seniors and their families about the most common causes of financial stress, how it affects the person, and provide some coping strategies.” She provided a link to the guide she wrote and asked if I would consider posting it, along with an intro she wrote for it.

I said I would be glad to consider it and she wrote back with the following introduction, which I’m just pasting in, below. I’ve gone over the Guide she wrote and am providing her info here as a service to anyone considering or preparing for retirement, or for anyone who just might be interested in what to expect and, perhaps, how best to plan for one’s eventual exit from the workforce. What follows come from Ms. Jenny Holt.

PS – I will offer one observation. The site her link points to is called “Reverse Mortgage Alert”, which I have to admit raised a red flag for me. I’m not a fan of the concept, at least not as I’ve learned it is frequently practiced. However, after reading some of the info provided there, I do believe what they have to offer is useful information. They are not “pushing” reverse mortgages. Rather, they seem to be intent on providing useful information that anyone seeking to make a major investment move, especially with the home they’re living in, should take into account. If you have info that proves this wrong, I’d really appreciate hearing from you. Thanks.


With more limited access to financial services and often post-retirement, a money problem for seniors can be magnified more than for other age groups. While many have saved or invested in property and pensions, there are common causes of financial issues for the over 55s. These include:

  1. Job Loss/Reduction – 51%

  2. Healthcare – 29.5%

  3. Other – 21.6%

  4. Unpaid Taxes – 12.7%

  5. Divorce/separation – 8.2%

  6. Bankruptcy – 6.7%

  7. Foreclosure notices – 5.7%

The onset of stress can cause a range of emotional and physical problems which may exacerbate any health-related financial issues. These include insomnia, headaches, chest pains, anxiety, and depression.

However, it is more than possible to mitigate these issues. Of course, finding a solution to the financial problem in the first place is preferable. That being said, clearer and more focused decisions can be made with the right approach. Many seniors find stressful situations easier to cope with by combining a better diet with more exercise and meditation.

There is more to learn about this issue and more information can be found in the full Senior Financial Stress Coping Guide.


Something Borrowed – Something Blue

I got married for the first time (there have been only two) in my early thirties; somewhere around 1980 to be inexact. It was a self-organized, backyard party held at the home of friends in Venice, California. We were living in Playa del Rey at the time. I was just reminded I wore a turquoise bowling shirt a friend loaned me that he had recently  purchased second-hand from Aaardvark’s Odd Ark in Venice.

Turquoise Wedding/Bowling Shirt

My Turquoise Wedding/Bowling Shirt

I have a lot of slides from the wedding. Of course, they’ve been sitting in a binder for the last three decades, which is about how long ago I divorced my first wife (who, btw, remains a friend but who I see very infrequently and always at an event involving my brother’s family, as she was close to my SIL and her family). I have no desire to go out and spend money to have photos made of these, but I did try to scan one of the slides that shows me in the shirt. It didn’t work too well, so I went around the house looking for enough clear backlighting to snap a pic with my iPhone 4S. I offer it herewith.

I’m sharing this because it is somewhat indicative of the kind of relationship, wedding, and marriage (despite its having ended) Alina and I had. In our case, it was the Groom who wore – in one garment – something old, something new, something borrowed, and something blue.


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