Even though divorce ends about four in every 10 marriages, many married people in Kentucky might be financially unprepared for a separation. A survey conducted by Head Solutions Group for TD Ameritrade found that almost two-thirds of married people were not prepared financially for being widowed or divorced. Despite this, more than 70 percent of men and over 60 percent of women reported a feeling of confidence that they would effectively manage such a situation financially.

However, the numbers show that divorced people tend to have lower incomes than married people and more financial worries. For example, the average income of married people in the study was $61,700; however, divorcees made almost $10,000 less. Divorced people also reported less overall financial security, with only 25 percent saying they felt stable. Furthermore, almost half of divorced people said they were not saving or investing any take-home pay. On the other hand, one-third of married people were saving.

Divorced people were also less confident about finances during retirement. Just 41 percent of divorcees said they would fully retire compared to 47 percent of married people. Additionally, fewer than one-third of divorced individuals expected a financially secure retirement. Half of the married respondents predicted a secure retirement.

People can take some steps to protect themselves during a divorce. They might want to talk to an attorney about their marital finances and how they might divide property for a more secure financial future. For example, a person might be tempted to keep the home and let a spouse have another asset of equal worth. However, the divorcee should be sure that they can make mortgage, tax and insurance payments on a single income.