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Navigating Divorce: Tips for Women Over 40

Navigating Divorce: Tips for Women Over 40

November 29, 2022

If you’re a woman over 40 and thinking about divorce, you’re not alone. The divorce rate for adults between the ages of 40 and 49 has risen 14% since the 1990s. Middle age can be a tumultuous time for marriages. This is a period when many women are reevaluating their relationship roles, questioning their sense of self, and looking for meaning after the kids have moved out.

While divorce may be in your future, you’ll want to take care of a few financial matters first.  Here are a few considerations:

Talk to a Financial Advisor

Divorce after 40 can be financially complicated. But according to, only 5% of women work with a financial planner during divorce proceedings. Consulting a financial advisor before, during and after divorce can help you create a plan to replace lost income or reduce spending in the wake of your divorce. Charting your course will help you understand whether you will have to work during retirement to meet your living expenses. Kris Kennedy, founder of Kennedy Financial Network, can help you navigate the financial planning process so that you understand what you have and what steps are needed to pursue your goals.

Consider Selling Your House

If you keep the family home following your divorce, think carefully about selling it. Moving might not sound like the most enjoyable activity, but a big house can easily strain your finances if you’re covering the costs on your own. Depending on the real estate market, you may want to consider selling the home and moving into a space that aligns with your new budget and lifestyle needs. Talk to a local real estate agent to find out if now is a good time to list a home on the market. You’ll also want to estimate how much your home is worth so you know how much money you can take home after the sale. Use a home sale proceeds calculator to make this process easier.

Reevaluate Your Financial Goals

Chances are, many of your existing financial goals relied on contributions from your spouse. It’s important to set new goals, given your altered financial situation. Perhaps you want to get out of debt, save for a milestone purchase, or put money aside for retirement. Establish your personal goals and find out what you’ll have to do to achieve them. Again, this is where it can pay to work with a financial professional.

Create a New Budget

Even women in well-paying jobs can struggle financially after a divorce. Beyond the gender pay gap, when women take a break from the workforce to raise children or care for elders, those years of reduced income could mean lower Social Security payments and limited retirement savings. Budgeting is essential for bridging these gaps and maintaining your financial health both now and in the future. recommends tracking your discretionary spending and identifying frivolous purchases that you can reduce or cut out entirely.

Practice Self-Care

All of these financial decisions can be exhausting, especially during a time when your emotions are already running high. Be sure to prioritize self-care as you navigate through your divorce. For example, try stress-reduction techniques to keep yourself grounded. Declutter your home, practice mindfulness meditation, and exercise. Try to also limit your consumption of caffeine and alcohol, both of which can contribute to symptoms of anxiety.  

Divorcing after 40 is a major transition. While this is bound to be a stressful experience, try to tackle financial matters as soon as possible, using a team of professionals that you trust. Think about selling your home. Create a new budget; establish new financial goals and work with a financial advisor. And remember to carve out some time for self-care every day!

Are you going through a divorce? Kennedy Financial Network can help you navigate this major life transition. Call Kris Kennedy, Financial Advisor, today at 505-289-0616 or email at to arrange a time for an initial complimentary consultation.