If you are contemplating or have been through a divorce this year chances are your budget is already stretched pretty thin. The looming holidays may have you panicking as you wonder how you will afford them. The good news is the best and most magical parts of the holidays won’t cost you a thing; you just have to put yourself in the right frame of mind. Spending a few dollars … [Read more...]
When Your Spouse Leaves You In Financial Ruin
Rhoda was in her fifties when she faced divorced again. Aside from the bitter disappointment of a marriage that didn't last, Rhoda was financially ruined. As someone who'd always been responsible about money and valued her credit rating, it was devastating. Here's Rhoda. I was almost one hundred percent ruined by my ex and that has been the hardest for me to face, that and … [Read more...]
The Great Divide: Retirement Assets in Divorce
During divorce proceedings many things are subject to being divided; the marital home, the kids, credit card debt and yes, investments one or both of you may have such as a 401(k) or an Individual Retirement Account. It is important to understand how the division works whether you are on the giving or receiving end. Today retirement accounts are often valued more than the … [Read more...]
Divorcing Your Health Insurance
The list of things affected by your divorce goes on and on; one thing you don’t want to let pass you by is health insurance for you and your children. While health insurance is not top of mind for many divorces, the ramifications of not being insured could have a dramatic affect on your future financial situation. Once your divorce is final most likely you will not be able … [Read more...]
Divorce for Baby Boomers: Sacrificing Memories for the Future
As I listened to my just-turned-fifty friend discuss the details of her divorce from her husband of thirteen years, I wondered if this was becoming the norm for this generation. We have all heard the statistic “50 percent of marriages end in divorce”, but I thought this was typical of the younger generations, not the baby boomers. “Over the past twenty years, the divorce rate … [Read more...]