Category Archives: Financial Advice

Financial issues, suggestions and advice

10 things to consider before filing

10 Things to Consider Before Filing for Divorce

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By Lisa Brick


Ask yourself: Are you doing this?

Fast food, online shopping, and even drive-through weddings. It’s becoming easier and faster to do almost anything in the world today. Unfortunately, our quick and easy culture does not yet apply to divorce. The divorce process is still a long, difficult road.  But if it is the right decision for you, there are ways to make the journey easier. As with any major decision, there are things to prepare before you begin. You will be dealing with confusing emotions while trying to make decisions that will affect you for years to come.  Preparation is key.

You need to be mentally and financially prepared for new living arrangements, new daily routines, and all kinds of decisions about property and money. Continue reading

Strengthening your financial position: Part II – Post divorce

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Guest Post by AVIVA PINTO, CDFA™


Part II of this 2 part series.  Click here for Part I

 

After you’ve separated your financial lives, work carefully with your financial advisor to focus on planning your future.

Savings Goals

Determine how your post-divorce financial situation affects your ability to save for goals such as college or retirement and whether you will need to revise your expectations. We recommend creating a plan to maximize your savings.

 

Investment Strategy

You and your advisor can evaluate your investment allocations to make sure they are appropriate for your risk tolerance and your time horizon. An advisor can help you focus on rebuilding your assets while remaining cognizant of fees. Continue reading

Strengthening your financial position Part I: Pre divorce

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Guest Post By Aviva Pinto


Most people don’t begin their marriage expecting it to end in divorce. For those who do find themselves ending a marriage, a lot can be on the line financially as marital property, including investments, must be divided. Having a sound financial plan can ease your transition into life as a single person and can help ensure a comfortable financial future after the divorce.

This is a 2 part series.

Dividing up Your Financial Lives

It helps to work with a financial advisor to navigate this process, preferably a Certified financial Planner, who will act as a fiduciary and only make decisions in your best interest. Ideally, this advisor will work with you to set goals and objectives for investing and retirement planning as well as managing your immediate financial needs. Continue reading

How much should my settlement be?

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Guest Blog By Aviva Pinto, CDFA


 

How much should my settlement be? How much could my settlement be? How much will my settlement be?

 

Clients going through divorce are most concerned about these questions. A Certified Divorce Financial Analyst® can help you with calculations to show you what different financial settlements scenarios will look like. They can help you figure out what you own and what you owe. They can help you be realistic about what you are entitled to versus what your wishes are. They can prepare plans to help your divorce attorney or mediator and provide backup that can withstand a negotiation or a court hearing. They can help you determine spousal support and child support. Whether it is a good idea to take retirement assets, versus the house, versus a settlement in cash. Continue reading

How To Begin Taking Charge Of Your Money

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Guest Blog by Doug Pi


“ My spouse was in charge of our money and I’m unsure of how to begin taking charge.”

By asking the question, you have taken the first step…

…and ownership of this critical area of your life. It has been our experience that individuals who are in your situation more than rise to the occasion. One needs to look at the flip side of this equation. What if you can be a better steward of your finances than your spouse was? Very often a divorced or widowed person becomes an excellent manager of their finances. There is not a gender issue with one’s ability to take control and thrive in this area. We have written a book and free report for women because our society has done a poor job of encouraging and educating women about holding and growing their nest egg. Continue reading

Money: Divorce Toward Prosperity

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Fears around money and finances before, during, and post divorce can be paralyzing. Self doubts and self criticism are shriveling to a sense of self worth that is already under water.

The first three posts of this series on money supported readers in exploring the thoughts they have around money, separating their thoughts from the actual dollars and cents of their situation, and creating an innovative new conversation about money and finances.

By transforming your internal conversation around money and taking action it is possible to find freedom from fear and create a new future that includes greater prosperity in all areas of life pre, during, and post divorce.

Continue reading

Financial Organization: Before, During and After Your Divorce

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Financial Organization 101

A divorce can be an extremely difficult time in someone’s life. First and foremost, tell yourself that everything will be okay and that you will make it through. Financial organization is key to a less stressful divorce process.

Here are a few documents that you should have on file, (virtual/physical) in order to make the legislative and financial process a bit easier. You may not have all of this, and that’s okay! You are ok. Continue reading

Money: Transforming Your Conversation

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Recently I heard two divorced individuals sharing how they used money as revenge.  Their logic was that the less they made, the less their exs would have.  True enough.

The dilemma with this thinking was that IT WAS IMPOVERISHING THEIR LIVES TOO!  When they recognized the lose/lose dynamic they were creating they also recognized that however much money they made, they were the ones to keep the greatest percentage of it.  They gave up “money as revenge.” Within a relatively short time new venues opened up for greater prosperity – to have and to share. Not surprisingly, their relationships with their exs and their children improved.

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Money Matters: Untangling Dollars and Sense

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Money and finances are an ever-present focus in adult life and a central and almost always thorny aspect of divorce. Conversations around money and finances are more likely than not a major stress for all involved, and a divisive mess. There is a way to begin CLEANING UP that mess, at least IN YOUR LIFE if not your ex or soon to be ex’s.

Cleaning up the money mess begins with separating the ACTUAL numbers from what we THINK  the numbers mean.

Continue reading

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