Why Divorces Over 60 Are Costing Men Their Entire Retirement

September 18, 2025

Divorce later in life is becoming more common, but it can have a devastating impact on men’s financial futures. Many men in their 60s expect to enjoy retirement after years of hard work. Instead, they find themselves facing unexpected expenses and a shrinking nest egg. The financial consequences of “gray divorce” can be far more severe than divorces earlier in life. If you’re nearing retirement, it’s crucial to understand why divorces over 60 are costing men their entire retirement and how you can protect yourself from financial ruin.

1. Retirement Savings Are Split Down the Middle

One of the harshest realities of divorce over 60 is the division of retirement assets. Courts typically require retirement accounts—like 401(k)s, IRAs, and pensions—to be split equally. For men who may have been the primary earners or contributed more to these accounts, this can mean losing half of what they’ve saved over decades. With less time to rebuild these accounts before retirement, the impact is immediate and often irreversible.

Unlike younger couples, men in their 60s don’t have the luxury of decades to recover financially. The loss of retirement savings can force men to delay retirement or even return to work after retiring. This is a key reason why divorces over 60 are costing men their entire retirement, leaving them scrambling to cover basic living expenses.

2. Ongoing Alimony and Support Payments

Alimony, or spousal support, is much more common in divorces over 60. After a long marriage, courts are likely to award ongoing payments to the lower-earning spouse. For men, this often means a significant portion of their monthly income or retirement distributions must go to their ex-spouse. These payments can last for years, or even for life, especially if the marriage lasted several decades.

When you’re already on a fixed income, these payments can eat into your ability to pay for housing, healthcare, and everyday needs. Alimony obligations are one of the main reasons why divorces over 60 are costing men their entire retirement, making it difficult to maintain the lifestyle they planned for.

3. The Cost of Keeping the Family Home

Many men want to keep the family home after a divorce, either for sentimental reasons or to maintain stability. However, this decision often backfires financially. Keeping the house means taking on the full burden of the mortgage, property taxes, maintenance, and insurance—usually on a single income. In some cases, men may need to buy out their spouse’s share, draining even more from their savings or retirement accounts.

Homes can become money pits, especially if they’re older or require major repairs. Selling and downsizing may be a smarter financial move, but emotional attachments can cloud judgment. The desire to keep the home is yet another reason why divorces over 60 are costing men their entire retirement.

4. Health Care Costs Rise Sharply

Health care expenses often increase with age, and divorce can make these costs soar. Men may lose access to their spouse’s health insurance and need to buy their own policy, which is often expensive. Medicare doesn’t cover everything, and out-of-pocket costs can add up quickly, especially if new medical issues arise after the divorce.

Without the buffer of shared medical benefits or a partner to help manage care, men may find themselves paying more for less coverage. This extra financial strain makes it even harder to stretch what’s left of their retirement savings.

5. Legal Fees and Hidden Divorce Costs

Divorce is rarely cheap, but for couples over 60, the costs can be especially high. Legal fees, court costs, and the price of hiring financial advisors can eat into what’s left of a retirement fund. Complex assets like pensions, investments, and real estate often require expert valuation, raising costs even further.

Aside from legal fees, there are often hidden expenses, such as moving costs, therapy, and setting up a new household, all of which add up. Many men underestimate just how expensive starting over can be at this stage of life. The combination of legal bills and new living expenses is a big reason why divorces over 60 are costing men their entire retirement.

6. Social Security and Pension Complications

Divorce can also complicate Social Security and pension benefits. Men may expect to rely on these payments in retirement, but the rules change after divorce. Ex-spouses may be entitled to a portion of Social Security or pension benefits, reducing the amount available to the primary earner. In some cases, men find their anticipated monthly income cut by a third or more.

These reductions can come as a shock, especially for those who didn’t expect to share these benefits. Navigating the rules around benefits is tricky, and mistakes can lead to missed payments or penalties.

Protecting Your Retirement in the Face of Divorce

It’s clear that divorces over 60 are costing men their entire retirement, but there are steps you can take to protect yourself. Consulting a financial advisor before filing can help you understand the full impact and explore ways to minimize losses. Consider mediation instead of court when possible, as it’s often less expensive and less adversarial. Downsizing your home and carefully structuring any settlements can also help preserve your retirement savings.

Staying informed and proactive is your best defense. If you’re facing a late-in-life divorce, don’t wait to seek advice.

Have you or someone you know faced a divorce over 60? What steps did you take to protect your retirement? Share your experiences in the comments below.