Divorce
Living Through A Divorce
How do you live through a divorce? Prepare for your financial future? Read on for thoughts on these very topics.
Divorce is an emotional and often a financial drain for most enduring this difficult process. We have worked with so many clients that, had they planned differently, could possibly have saved themselves from a huge financial loss. Emotions run high and it can be easy to be impulsive or unwise around finances, especially when we’re stressed. Taxes, division of accounts, incomes, child support and bill planning are just a few of the many stressors you must navigate as you go through a divorce.
On the bright side, we also know that it’s possible that life after divorce can bring a peaceful reprieve from stressors and perhaps even financial gain over time. Especially, as we re-evaluate our goals and focus on new dreams for the future. Following the CDC’s reporting of marriage and divorce statistics, the U.S. divorce rate has steadily decreased over the past two decades. In 2000, the marriage rate was 8.2 per 1,000 total population while the divorce rate (divorces and annulments) was 4.0 per 1,000 total population. Sadly, divorce is a reality that we may be faced with and should be prepared for. If you’re seriously considering this major life change, the time to start planning is now. This will allow you to focus on the emotional healing after divorce instead of being more stressed about your finances.
Preparing for Your New Financial Future
Making the decision to split can create unique financial challenges. But it can also give you the opportunity to transform your financial future and we may be able to help you shift to a new and more positive direction with your finances. For example, maybe your former spouse was a spender and you have wanted to save for a special purchase. Maybe you felt that the investing was not being handled the way you would have liked. Now is the time to plan for those changes so you can see more positive results in your future.
We have experience supporting clients through the divorce process with both compassion and patience, and we can support you with Budgeting and Expense Management, Investment Management, Financial Planning, Retirement Planning, Insurance and even Real Estate Valuations.
Starting Anew
If you’ve recently gone through this life-changing event, our financial consultants can help you start anew. We can help you by creating a solo budget and developing new financial goals. Click here for our Divorce Checklist to see what critical areas you might need to address if you’re going through this major life decision. Interested in a 30-minute free consultation to get started? See our Contact Us form.