A “Fire Couple” and Divorce: The Facts and Why a Divorce Attorney is Needed
Many couples – most, in fact – merge their finances when they get married under the assumption of shared goals and a whole lot of optimism. These FIRE couples (“financially independent, retiring early”) may seem immune from needing a divorce attorney, but that’s not necessarily true.
Considering that finances are a significant driver of a successful (or unsuccessful) marriage, a visit with a divorce lawyer could become necessary when ideas differ on how to unpack the FIRE concept.
In this article, we’ll look at the circumstances that can put your “FIRE” out once and for all. Let’s begin.
The “Fire Couple” and Divorce
You Do Not Share Spending Priorities
Finding attorneys for divorce could be necessary if one spouse is FIRE and the other isn’t. However, they might also be necessary if money is a priority, but you have differences in how to spend it. In fact, couples that disagree about spending are twice as likely to get a divorce.
One spouse might want to spend their money on travel and experiences while the other spouse is focused on saving for a comfortable retirement. This difference in spending priorities can lead to disagreements and conflict within the marriage, even if you’re both responsible otherwise.
You Cannot Cope with FIRE Lifestyle Changes
You could also seek a lawyer for divorce if one spouse is unhappy with the lifestyle changes that come with being financially independent. The FIRE lifestyle often requires a lot of discipline in terms of spending and saving.
If one spouse struggles with self-discipline, it can cause your marriage to turn toxic in a hurry. Furthermore, the FIRE lifestyle can be isolating if you’re not used to it.
You might find yourself seeking social activities outside of the marriage. This can lead to further distance between you and your spouse. Social distance may be effective for dealing with a pandemic, but it’s not so great in a marriage.
You Envision Different Retirements
You don’t see eye to eye on the amount needed to retire, nor do you agree to the plans for when you make that transition. For example, one spouse might want to retire early and travel the world while the other spouse wants to continue working until they reach the traditional retirement age.
(67 now, likely older if you’re in Generation X or younger.) This difference in plans can cause tension and disagreements within the marriage that only the best divorce lawyer would be able to negotiate.
Find A Divorce Attorney You Can Trust
If considering a divorce attorney, seek professional help to understand the implications of your decision. The divorce lawyer cost in a contested divorce can create significant financial impacts. That’s especially true if one of you hires the wrong representation for your case.
With roots that go back more than 60 years, Dalena & Bosch are here to help you approach your divorce with a calm head. Our goal is to get you the outcome you deserve without hurting what you’ve worked hard to achieve.