We all recently heard the news that the tech world’s “royal couple”, Bill and Melinda Gates, are ending their marriage. The Gates live a life that only some can dream of and only 1% of the 1% get to experience. Yet, for as unique as their lives may be, this divorce is as common as white bread and milk. They have fallen among the ever-growing number of Americans who make up the growing phenomenon of the Grey Divorce.
Divorce is one of the most difficult situations that a person can face in their life. Perhaps you are thinking of divorcing, in the process or have been blindsided by your partner asking you for one. Either way, your emotions are probably all over the place. Understandably, you are thinking emotionally and not financially. How do you start to think clearly? Where can you find the resources to help you? What do you need to navigate through this transition? HOW DO YOU PREPARE FOR DIVORCE? Here are some tips and insight. I have learned in my years as a Certified Divorce Financial Analyst® professional.
Financial planning can be a daunting task even for the most business and money inclined of us. Many times, I have come across clients who are literally paralyzed when they think of getting their financials in order and starting to put together a plan. Many of them come to this impasse because of a life event that has forced them to take stock. The dread moment has come and for most people that is the first moment when we open a drawer or shoe box and see a jumble of statements and forms that we have neglected for too long. We realize the first thing we should have done and now must do is organize.
When we think about our net worth, our first instinct is to think analytically. We gravitate toward numbers, growth charts and returns. Seldom do we look at ourselves and how our relationship with money correlates to our relationship with ourselves. The fact is that oftentimes they do relate to each other, directly impacting our ability to grow our net worth. Let’s take a look at how loving ourselves first is a part of financial planning.