Divorced
Women currently control 51% or 14 trillion of personal wealth in the U.S. and are expected to control $22 trillion by 2020. Yet, despite these statistics, there are many challenges that women face in achieving financial security, especially when a going through a divorce. After a divorce, a woman may typically experience up to a 41% loss in income, on average, almost double the loss men experience1.
This post-divorce decline in income is especially challenging due to the unique financial headwinds women face with longer life expectancies, lower incomes and fewer years in the workforce than men. All of which can impact savings amounts and financial independence.
For many women, financial concerns are at the top of their worries when uncoupling from a marriage. The best way to take ownership of your financial future is to get educated. You can achieve financial confidence by looking at the decision-making process and establishing a plan to take things one step at a time in order to achieve the financial independence you deserve.
Some of the most common areas that we can help with are:
- Post-divorce budgeting
- Retirement and longevity planning
- Evaluating long term care concerns
- Evaluating assets and income streams
- Planning for post alimony and child support replacement
1Office, U.S. Government Accountability. “Retirement Security: Women Still Face Challenges.” U.S. Government Accountability Office (U.S. GAO), 25 July 2012, www.gao.gov/products/GAO-12-699.
