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Can you afford a divorce?

25 January 2018

Money & Life team

Money & Life contributors draw on their diverse range of experience to present you with insights and guidance that will help you manage your financial wellbeing, achieve your lifestyle goals and plan for your financial future.

With divorce happening later in life[1], Australians are taking the financial hit that comes with the end of marriage at a time when they’re at the peak of wealth accumulation. While saving money may not be a reason to stay together, it’s worth knowing what kind of impact divorce can have on your financial position. And if separation is on the cards, how can you limit the financial and emotional cost for you and your loved ones?

[1] AMP.NATSEM Income and Wealth Report, Divorce: For Richer for Poorer, December 2016, page 2 http://www.natsem.canberra.edu.au/storage/1-December%2013%20-%20AMP.NATSEM39%20-%20For%20Richer%20For%20Poorer%20-%20Report%20-%20FINAL%20(2).pdf “divorce is happening later in life, during our prime wealth accumulation and child rearing years, amplifying the financial repercussions.”