You are trying to figure out how to position yourself as you go through this transition in your life. You need an empathetic financial professional on your side who can help you optimize your finances so you can feel confident moving forward.
Common questions include:
How do I know if my divorce settlement is good for me?
What is my new financial reality?
Will I be OK?
Should I consider selling my home?
What are my options for health care coverage?
What do I need to know to be able to best manage my finances going forward?
AGE: 50
EMPLOYMENT: Homemaker
FAMILY STATUS: Divorcing husband of 28 years. Two children, Christopher, 25, and Ashley, 20
HOMEOWNERSHIP: Own one home, in which she lives
Meet Cynthia*
SEEKING SOMEONE TO BE IN HER CORNER DURING A DIVORCE
Cynthia is concerned about her financial future as a divorcee. In her married life, it was Cynthia’s husband, Jack, who handled the family’s finances. Now Cynthia is tasked with understanding financial decisions in the divorce process that could affect the rest of her life. Her friends, as well-meaning as they are, have given contrary opinions about the negotiations, leaving Cynthia even more confused.
Compounding her worries is the fact that Cynthia left the workforce 20 years ago to raise their childr en. Cynthia has been active in the community, serving on the boar ds of nonprofits that she was passionate about. Now she needs to know if she can leverage that volunteer experience into a career—ideally, a career with health care insurance and retirement. Finally, she’d like to see if she can af ford to keep her home, which she is very attached to.
Ready to start her new life from a place of empowerment, Cynthia has decided to seek out a financial advisor with experience in helping women through the divorce process. She seeks someone she can trust to be on her side during the divorce negotiations and help her to secur e the best settlement possible. At the end of the day, she needs to know the specifics of her new financial reality so she can make informed and confident decisions about her future.
PRIMARY FINANCIAL CONCERNS
Getting a grasp on her expenses and income
Setting up a workable budget
Deciding what to do with her home
Understanding her financial picture, including taxes and retirement
Having enough money to be “OK” now and in the future
Being able to access affordable health care
Finding employment that supports her lifestyle in combination with her support payments
*This is a sample client situation and not an actual client.
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