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Financial Freedom Through Divorce

March 01, 2024

Over the years, I've had the privilege of hearing many powerful stories. These conversations are not just about numbers and budgets; they are deeply personal narratives about rebuilding, redefining, and rediscovering financial independence. I recently conducted a series of interviews to better understand the evolving financial goals of women at different stages of their divorce journey. I wanted to understand their goals and thought process surrounding money at all stages of this transitioning time during a divorce. I recently interviewed just under 100 inspiring women, and their answers provided invaluable insights into women's unique financial planning needs during this transformative time.

The Immediate Aftermath of Divorce: Stability and Self-Care

For those recently divorced, the immediate financial goals are understandably focused on stability and self-care. "Paying my bills, “taking a vacation" were common themes, reflecting a desire for financial independence and a much-needed break from divorce proceedings. Another significant goal was autonomy over one's work-life balance — “I want to work how and when I want." I think this speaks to a deeper longing for control over one's life, a reclaiming of agency that may have been compromised in past relationships and being able to care for children as they have done so in the past.

This phase lays the groundwork for a new life, so I always emphasize liquidity first. Having accessible funds is crucial for managing unexpected expenses and also for opportunities. It's about creating a financial buffer that enables independence and flexibility, aligning perfectly with my personal definition of wealth: the ability to choose who I spend time with, how I spend my time, and what I spend my money on. This philosophy stems from my own experiences in an abusive financial relationship, underscoring the profound impact financial independence can have on our well-being.

Looking Ahead: Building Confidence for the Future

As time passes, the focus on financial goals shifts. As I saw in my interviews, women start to look beyond the immediate horizon, thinking about their future more confidently and clearly. Retirement planning becomes a priority, along with a desire to think long-term and remain emotionally uninvolved in the financial turbulence of their past. This transition marks a significant shift in perspective from surviving to thriving.

The concerns about reaching these long-term goals often revolve around uncertainty. "Will I have enough?" "Can I maintain this independence?" These questions are not just financial; they are deeply emotional, touching on fears of vulnerability and the desire for independence. As a financial advisor, I provide the strategies, reassurance, and support needed to navigate these concerns. It's about building a relationship that evolves with their changing goals, offering tailored advice that reflects their growing confidence and aspirations.

Through these interviews, it became clear that women's financial goals during and after divorce are deeply intertwined with their journey of self-discovery and empowerment. Whether it's the need for immediate financial stability or long-term planning for retirement, each goal represents a step towards financial stability and personal fulfillment.

As a financial advisor, I commit to being there for my clients every step of the way. From the initial stages of securing liquidity to the complex planning required for a confident retirement, I am here to guide, support, and empower women through their financial journey. Together, we can work through the challenges and celebrate the milestones, crafting a path toward a future defined by independence, stability, and choice.

This journey is not just about numbers; it's about building a life where you are in control. A life where financial independence is the foundation upon which you can rebuild, redefine, and rediscover your sense of self and purpose. Schedule a call with me so we can craft a financial plan that evolves with you every step of the way.