You may not always think clearly when navigating your way through a divorce, and many divorced women find themselves wishing they had done things differently after the fact. If you have clear financial goals you want to achieve now that you are embarking on life on your own, you may find that working with a financial advisor helps you achieve them.
According to Forbes, only about 5% of women are aware of the fact that using a financial advisor may benefit them amid divorce. However, 61% of now-divorced women say that they regret never having hired one. How might doing so help you navigate your divorce and position yourself for future financial stability?
By helping you identify and meet your financial goals
Many women share similar goals when it comes to their finances, but far fewer know how to achieve them. If you count yourself among those looking to eliminate debt, save more for retirement, maintain an emergency fund or generate enough wealth for a down payment, a financial advisor may be able to help. In addition to helping you identify your most pressing financial goals, the advisor may help you determine what steps to take during your divorce to achieve them.
By helping you get your fair share
A financial advisor may also make efforts to help ensure you receive everything you should when your marriage ends. This might include identifying assets you never considered, such as heirloom jewelry or college savings accounts.
It may also include helping you develop a sense of how much your lifestyle costs. This may prove particularly useful if you never paid bills or had much involvement in family finances. Statistics show that one-fifth of married women give their husbands primary control over financial affairs during marriage. If you were among them, having someone financially savvy advocating for your interests may help you position yourself for long-term success.