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title
5 things to do after divorce to help build financial freedom
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Divorce is a perhaps unwelcome, but still common, experience for many couples. Estimates are that 40% to 50% of marriages end in divorce, and the numbers are even higher for second (60%) and third (73%) marriages.1 Faced with dividing assets, working with lawyers and mediators to decide on custody, and all of the other decisions that have to made when a marriage comes to an end, in most cases divorce is an emotionally, and financially, challenging time. Once you separate from your spouse, either before, during or after legally divorcing, the new reality hits. Household income and expenses have changed, and savings and investments look radically different. Even if alimony and/or child support are part of the agreement, your monthly expenses will likely be higher now that costs aren’t being shared as they were before. But while divorce may mean the end of your life with your former spouse, it can also be the start of a whole new life. In order to start the next chapter on the right foot,...
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