Divorce can take a huge toll on your retirement plans because you have to divide all your assets. Often, this means that you lose some of the money you had for retirement.

You may not feel it too badly if you are younger, but if you are closer to retirement, then you need to put a plan in place to bounce back and refocus your goals.

If you had the lower-income

U.S. News and World Report explains that if you were relying on your spouse’s accounts and plan to take care of you in retirement, then you will need a whole new plan. It helps to do a financial inventory to figure out where you stand post-divorce. Take time to begin your own savings or retirement account using assets you got in the divorce.

You also should check into Social Security benefits. In general, if you do not remarry and you and your former spouse were together for at least 10 years, then you can collect on his or her Social Security record, which may allow you to get a higher benefit amount once you reach retirement age.

If you lost part of your retirement

If you lost some of your retirement money in the divorce, then you need to do an inventory of what you have left. You will want to calculate how much you will need and how long you have until you need it. Create a new savings plan and adjust your accounts as needed to rebuild them.

You must adjust

Regardless of which situation you are in after your divorce, you need to readjust your lifestyle. You will have to save more and spend less to rebuild your retirement and have enough for when the time comes.