Making sure your money lasts as long as you do is a huge concern for most retired people. And a divorce in later life is likely to send many into turmoil as the division of a couple’s assets can rock even the most financially stable.
This is the position in which 78-year-old Richard Waldron, a retired graphic designer, finds himself: he separated from his wife two years ago and is waiting for the divorce to be finalised.
The proposed settlement has left him “distraught with worry” about his financial future.
If it is accepted, Mr Waldron will be left with guaranteed annual pension income of about £16,300 after tax and £200,000 from the sale of the property he owned with his wife.
In addition, he has £11,000 invested in each of two Isas with St James’s Place and Fidelity, which yield an income of about 3.5pc. He has another £11,000 in an investment run by St James’s Place, which yields £100…
