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Why 61% of divorced women wish they hired financial advisers

On Behalf of | May 20, 2020 | property division | 0 comments

Your financial future may look quite different than you thought it would when you make the decision to divorce, and you may need to explore new methods of achieving your financial goals. Many women facing similar circumstances have defined financial goals they want to work toward, but many regret not doing more in their divorces to help themselves meet those goals.

According to Forbes, while about 95% of women say they did not hire financial advisors during their divorces, about 61% now say they wished they had. Also, only about 5% of women surveyed reported even knowing that hiring a financial advisor was an option. Many of those who did decide to hire these advisors found that doing so helped them accomplish many important objectives.

Valuable help for divorcing women

At its core, the role of the financial advisor in a divorce is to help make sure you get everything you deserve. He or she may do so by helping you develop a better understanding of your financial situation, and particularly if your spouse was responsible for managing your financial affairs.

A financial advisor may also help ensure that you consider all possible valuables, from family heirlooms to retirement or college savings accounts. The advisor may also help set the wheels in motion as far as achieving your financial goals, whether that means focusing on retirement or generating more wealth through investments.

Long-term implications

The financial implications of divorcing your spouse may last for years or even decades. A financial advisor may help give you your best possible shot at achieving financial security without your one-time partner.