![]() Financial planning gives you freedom by replacing fear with confidence. Some women going through a divorce assume they will have to live like a miser because they have an internalized fear. You and the financial planner will create a list of priorities you will need money for such as helping to finance your children’s education. Financial planning in divorce will create a consistent cashflow strategy and budget. Women generally have a longer lifespan than men. This process with allow you to understand all your options before you sign the settlement agreement. Financial planners can find opportunities you might have missed such as tax breaks or being able to retire earlier than you expected. We recommend meeting with a financial planner to review the settlement before you agree to it. You need to make sure you know what you are signing, because it will have a big impact on your financial future. Your financial life after divorce starts as soon as you sign legal paperwork agreeing to a settlement with your ex-spouse. We encourage women to consider financial planning for several reasons, but most of all for the woman’s wellbeing and peace of mind. Outsourcing your financial planning makes sense when you are short on time but still need to make sure you manage your money well as you age. It is also especially important if your spouse managed your investments and longevity planning. Creating a new financial plan is important because you have lost the extra income of your spouse. Many newly divorced women feel the demands never end. It is likely you are working, raising kids, and paying the bills. Of all the worries and concerns to think about when going through a divorce, financial planning may not be at the top of your list.
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