Financial insights for divorced women 
or women facing divorce

It seems as if people who come to see me either think they don't have enough money or that they have plenty of money. Both are usually wrong. Janet recently came to see me for a consultation. Her divorce was going to be finalized in a month.
 

Janet Smith
Age 55
20 year marriage
Maintenance payment: $5,000/month
Salary: $120,000
Retirement funds: $1,200,000.00
Non Retirement funds: $45,000
Children: all grown
Desired retirement age: 62
 
While Janet admitted that her ex-husband, Todd, handled their investments, she also felt like it wouldn't be appropriate to continue using the financial advisor they had used while married. He felt more like Todd's advisor than hers. She knew she was looking for investment advice, but she didn't know that she was looking for financial planning as well. In Janet's mind, $1,200,000 sounded like enough to retire on. She had always read that $1,000,000 was the magic number.

After working together, I helped Janet create a customized financial plan that allowed her to get on track to work toward her retirement goals and ensure that her investments were in line with those goals. For Janet, this meant making some sacrifices today and sticking to a budget. To Janet, the sacrifices were worth it and allowed her to move forward with confidence in her financial future as she began this new chapter in her life.  
 
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Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual. No strategy assures success or protects against loss. Investing involves risk including loss of principal.
 
Securities offered through LPL Financial. Member FINRA/SIPC. Investment advice offered through IAG Wealth Partners, LLC, a registered investment advisor and separate entity from LPL Financial.


The Lighter Side



Debra Melvin,  CDFA™
Founder of the Women's Financial Education Community (WFEC)
Your Financial Planning Partner through the Journey

I can be reached at 262-446-8150 or by email at dmelvin@iagwealthpartners.com.  

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