Baby boomers divorcing is on the increase as is the income generated by divorce insurance policies. It has become a fact of life that more and more baby boomer’s are divorcing later in life for various reasons but the following article raises an interesting point …
And though many older men may be looking for wives to take care of them in their old age, some women don’t want – or need – that responsibility. Elmer sees herself in a committed relationship in her future, but not as a wife.
“I see myself as single, but with a significant other, someone you can do things with,” she said. “It could be dinner; it could be travel; it could be the arts festival.”
That scenario – lots of old people, single or living together but not married – raises serious issues as to who will take care of them when they do become ill and infirm. Traditionally, care for the elderly has been the duty of the spouse.
http://blog.marriagedebate.com/2011/12/elder-divorce-drives-rising-rate-among.html
Now that is an interesting point. Who is going to care the the elderly now that they won’t have a spouse to take on that ‘duty’. I guess it is left to the children of the baby boomers. Not a happy thought for any baby boomer, being a burden to their own children later in life.
So, the alternative has to be divorce insurance, if such an insurance exists. Baby boomers are to find the way to save for this insurance so that they will be able to have nursing care if they should need it.
I have met many people who have cared for their partner when needed and never regretted one moment, just as I cared for my mother myself and grateful to this day that I was in a position to be able to do so.
Are you a baby boomer and if so, what plans could you make in the way of insurance for your own nursing care in the future?
Sadly on a similar subject …
Baby Boomer’s Scammed
“Baby boomers are still looking out for their parents, even as they have fallen into the crosshairs of financial con artists themselves. It’s a bona fide boomer nightmare: they are becoming their mom or dad-at least as it concerns being vulnerable to fraud.”
Read more: http://moneyland.time.com/2011/12/16/financial-scams-target-boomers/#ixzz1gidqYUGv
What can baby boomers learn from these situations other than they have to be extra vigilant of their financial security and their health.
Related Baby Boomers articles
https://debts-challenge.com/baby-boomers-are-leaving-big-houses/
https://debts-challenge.com/how-to-retire-and-clear-debt/
