Personal Finance: Who Pays for What in Later-in-Life Relationships? – Bloomberg

Some of the most dramatic shifts in family life are occurring among older Americans. Over the past two decades, divorces have doubled for baby boomers and the number of individuals aged 50 years and older who are cohabiting has surged 85%.

So, when a reader wrote with a problem, I knew it was shared by many. After a late-life divorce, the reader met his current girlfriend. They’ve been together for eight years. Right before the pandemic began, they bought their dream house for $1.5 million, together as equal owners. But it stretched their finances — they drained accounts, stopped going out and now spend more than 50% of their total income on the new mortgage.


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