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Photo of Eric Ebbert CFP®, MBA Eric Ebbert CFP®, MBA Jul 20, 2022

If you’ve recently gone through a divorce, you know how painful it can be in a range of different ways. Even though you may be experiencing emotional turmoil, that doesn’t mean your finances have to suffer too. You should consider these tips as well as the counsel of a CERTIFIED FINANCIAL PLANNER™ professional to help get you back on track to financial independence.

What are some things that divorcees can do for income and to save their money?

  • Invest — One of the best things you can do after a new divorce is to ensure that you invest and diversify your investment portfolio. Investing with a financial planner can set you up for long-term success by ensuring that you pick investments with the greatest rate of return and lowest risk for your specific risk tolerance. 
  • Tax planning — Tax planning is another way to save your money, especially if you are reeling from the effects of a divorce. By minimizing your tax liabilities through tax planning, you’re lessening your financial responsibilities for the future.
  • Ensure that your financial accounts are separate — If you haven’t already done so, it’s crucial that you separate your finances from your previous partner’s to avoid future financial devastation and to allow for regrowth. Even if you and your former partner may have ended things cordially, it’s still important to separate your accounts so that in the event that circumstances change, you’re still protected.

Talk to a ProVise CFP® professional about how to find financial independence after divorce

At ProVise Management Group, our CERTIFIED FINANCIAL PLANNER™ professionals can get to know you and your current financial circumstances, goals, risk tolerance, and personal values to help you develop a plan that works for you. We can also create a written plan for you at a fiduciary standard of care. All our written plans come with an unconditional money-back guarantee. If you are unhappy with your written plan, you can return it to us, and we will refund 100% of the fee paid.

Are you ready to talk to a professional about finding financial independence after divorce? Contact ProVise today to schedule a complimentary consultation.