Your financial situation may look much different after a divorce, and the decisions you make while the divorce is ongoing may have lifelong consequences. If you have specific financial goals you wish to achieve moving forward, avoid making the mistake many women who came before did, and consider working with a financial advisor.
Forbes reports that while 95% of divorcing women never enlist the aid of a financial advisor, 61% of now-divorced women wish they had. Many women who do not hire financial advisors fail to do so because they do not realize how doing so may benefit them.
Benefits of hiring financial advisors
Arguably the biggest benefit that comes with hiring financial advisors is that they may help you set and take steps to achieve certain financial goals amid your divorce. If one of your goals is to have more set aside for retirement, the advisor may have ideas about how to make this happen. If your main financial goal is to buy a new home, your advisor may help you figure out how to free up enough money to do so.
Financial advisors may also help you maximize how much you take away from your divorce. They may do so by identifying valuable assets you may not have thought about, or they may help you develop a sense of what your lifestyle may cost to maintain moving forward. If you were not responsible for managing family finances or setting a budget during your marriage, an advisor may also help you learn how to handle these affairs moving forward. More information is available on our webpage.