Taking Control of Your Finances After Divorce
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Taking Control of Your Finances After Divorce

9 min read

From understanding what you have to building what you need — the financial roadmap for women starting over.

Many women who divorce after long marriages find themselves in a situation they did not anticipate: they are financially comfortable on paper but have little experience managing money independently. Their spouse handled the investments, the taxes, the insurance. Now they are responsible for all of it.

Step one is a complete financial inventory. List every account, every asset, every liability. Bank accounts, retirement accounts, brokerage accounts, real estate, vehicles, life insurance policies, credit cards, loans. You cannot manage what you do not know you have.

Understand your Social Security situation. If you were married for 10 or more years, you may be entitled to benefits based on your ex-spouse's earnings record, which can be significantly higher than your own.

Then invest, consistently and simply. A target-date retirement fund in a low-cost brokerage account is sufficient for most people. You need to start, to be consistent, and to not panic when markets decline. Time in the market beats timing the market, every time.

Finances Divorce Independence
Radojka Barycki

Radojka Barycki

Licensed Zumba Instructor · Food Safety Executive · Founder, Fabulous At Any Age

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