Embracing the Benefits of Working After Divorce

Divorce can be a life-altering experience, especially for women who may find themselves contemplating working after retirement age or after a period of being a stay-at-home mom. This transition can be intimidating because you may be entering the empty nest stage and facing the task of redefining your identity, or juggling the new demands of single parenting alongside a new career. However, it's essential to recognize that there are numerous upsides to working post-divorce, ranging from financial and healthcare benefits to social enrichment, personal empowerment, and fulfillment. In this article, we'll explore the positive aspects of working after divorce.

Social Connections and Personal Fulfillment

One of the most significant benefits of working after divorce is the opportunity to expand your social circle and find a new sense of purpose. Many women, especially those who have been stay-at-home moms, may experience a sense of isolation during and after divorce. Returning to the workforce can provide a platform for building new friendships, reviving old ones, and strengthening your social network. This social enrichment can lead to improved mental and emotional well-being, and help you feel a new sense of identity following a big life change.

Learning Opportunities and Career Growth

Working after retirement age can offer valuable opportunities for continued learning and personal growth. Whether you're acquiring new skills, adapting to modern technologies, or embracing new challenges, your work can keep your mind active and engaged. This ongoing education not only benefits your career but also enhances your cognitive abilities and keeps you mentally sharp. These qualities can lead to a sense of empowerment and affirm that you have the potential to take care of yourself, no matter what happens in your life.

Financial Upsides

Earning a post-retirement income can have a positive impact on your financial well-being. Not only does it provide additional financial security, but it can also extend your investments and assets. Earning a regular salary, in addition to any child support or maintenance payments, increases the likelihood of not running out of money during your retirement years. In addition, working may increase your Social Security income, either by raising your initial benefit due to a higher income compared to historical earnings or by deferring benefits, which can increase your initial benefit by 8% per year up to the age of 70.

Healthcare Benefits

Maintaining access to quality healthcare is crucial, especially as you age or take on the responsibility of healthcare for your children. Continuing to work can provide you with employer-sponsored health insurance or the financial means to purchase reliable coverage. Regular access to healthcare can help you stay on top of preventative care and medical needs, reducing your overall medical expenses in the long-run.

Volunteer Experience

Many stay-at-home moms or near-retirement women have extensive experience volunteering in schools or other communities. These valuable skills and experiences should be highlighted on resumes as they have helped you cultivate valuable skills that are important to businesses, such as project management, organization, and leading with influence. Working after divorce helps you recognize what a tremendous asset you are for employers who value your dedication and community involvement. It can be rewarding and empowering to see your volunteer efforts translate into paid employment.

Working after divorce may seem daunting, but it's essential to remember the numerous advantages of this choice. While the financial benefits are evident, working post-divorce also enriches your social life, helps you continue to grow as an individual, and supports a renewed sense of purpose. By embracing the opportunities that come with working after divorce, you can craft a fulfilling and financially secure future, reclaim your identity, and embark on a new chapter of your life with confidence and optimism.

To learn how we support the financial aspects of your divorce and post-divorce planning, schedule a free consultation with Amy Melander, CFP®, CDFA®, and independent wealth manager.