You only get one shot at dissolving your marriage, so if you have certain financial goals you wish to achieve in the future, you may want to identify them while your divorce is ongoing. A financial advisor may be able to help you identify and work toward your future financial goals. Many women who never hire them amid divorce wind up wishing they had done so.
According to Forbes, more than 95% of women who went through divorces never hired financial advisors to assist them. However, 61% of divorced women say they wish they knew that hiring one was an option. Why?
They may help maximize your takeaway
A financial advisor may enable you to fare better in your split by helping you recognize assets or income streams you may not have considered before. Antiques, jewelry and retirement accounts are all assets that some divorcing women fail to consider. They may have considerable value, however, so the financial advisor may help ensure you do not forget about them.
They may help you make future plans
If you know you need to save more for retirement, figure out new sources of income or eliminate debt, a financial advisor may help you accomplish these objectives. Your financial advisor may play a significant role during asset division, and he or she may use this knowledge of your financial aspirations to advocate on your behalf.
They may help you assess the price of your lifestyle
Hiring a financial advisor may also prove helpful if you had little to do with family finances during your marriage. You may not know the true cost of certain expenses, so you may not know how much it takes to maintain your lifestyle. Adding an advisor to your divorce team may help you develop a critical sense of how much you need to continue to lead the life to which you have grown accustomed.