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Divorce Planning

New Challenges and Responsibilities

New Challenges and Responsibilities

Divorce can be one of the toughest periods in a person’s life. From a financial standpoint, the process certainly takes it toll. Paying divorce expenses, splitting assets, and constant negotiating can be even more devastating.

So what should you do financially after you file for divorce? Creating a financial plan post divorce may seem daunting, especially if you weren’t the one involved in managing the bills, investments, insurance or budget. But at CTA, we see it as an opportunity for you to take over your own retirement planning, which could be a positive in the long run. Here are the first steps you should take towards establishing your present and future security:

Control Your Spending

  • Create a budget
  • Stop impulse buying
  • Apply for your own credit card
  • Don’t commit to any major financial decisions

Choose the right Financial Advisor

  • Do you choose a Stockbroker or Investment Advisor? What is the difference?
  • Determine if an advisor provides and emphasizes financial plans.
  • Do they specialize in women experiencing divorce?
  • Do they invest significant time learning about their clients before investing their money?
  • Do they provide investor education?

Take the time to understand an advisor’s investment philosophy and determine whether or not it is right for you. Ask them any question you have, no matter how basic it seems.

Common Divorce Questions

Will my post-divorce income cover my expenses?
Will I have to go back to work?
Can I afford to stay in my current house?
How do I manage and protect my settlement money?
How do I choose a financial advisor?
How do I plan for retirement? College tuition?
How do I ensure that I don’t run out of money?

Here at CTA, we are prepared to answer these questions and walk you comfortably through the process of post-divorce, financial planning. Contact us for an in-depth review of services and a personal consultation.

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