- Divorce can be traumatic – both emotionally and financially. It’s the closing of a chapter of your life with another person.
- Are you looking at your separation from a financial services perspective; are you making a clean financial break from your partner; or do you need support in making smart financial decisions and guidance through the steps?
- A common question I get asked from people who have been through a relationship breakdown: will I have enough money to retire now? I don’t think that I will. I will have to work until I’m 80 or more.
- Do you know how much you will need? What are you going to do to help get yourself back on track?
- Something that is easily overlooked is making sure that you have sufficient insurance cover in case something was to happen and you were unable to work.
- What plan do you have in place to get you back on track to achieving your goals?
- Often, there is one person in the relationship that has handled most of the finances. It is now a big and daunting task to take on the finances by yourself, especially while you are still mourning the breakdown of the relationship.
- Feel free to reach out to a Financial Planner to help you manage the finances.
Helpful Resource
https://moneysmart.gov.au/getting-divorced-or-separating/divorce-and-separation-financial-checklist