5 Biggest Money Myths in Divorce (and the Truth Behind Them)
We're starting off Season 2 with a bang! Divorce is the single largest financial transaction of most people's lives, and making uninformed decisions based on common money myths can have devastating long-term consequences. We debunk five major misconceptions about divorce finances to help you navigate this complex process with confidence and clarity.
• DIY divorce is rarely the money-saving solution it appears to be and can cost significantly more in the long run
• Keeping the house requires careful financial analysis including mortgage qualification, affordability, and evaluating its long-term impact on your finances
• Retirement accounts can be accessed during divorce through QDROs, offering important financial flexibility without the usual early withdrawal penalties
• Alimony needs should be evaluated as part of your complete financial picture, including all potential income sources and a realistic budget
• Divorce settlements must consider future implications like taxes, investment growth, and retirement security, not just division of current assets
• Having proper legal and financial guidance helps you make sound decisions when you're feeling emotionally exhausted near the end of negotiations
Schedule a free 30-minute consultation with me to see if divorce financial planning is the right fit for you, because financial peace of mind is possible. https://calendly.com/roessler-jacki/30min
CLICK the LINK below to download Jacki's budget worksheet and find other resources!
https://www.roesslerdivorce.com/resources/
Visit us at https://www.roesslerdivorce.com/ to learn more about Jacki's practice and to find valuable resources for your case.
The Divorce Rich podcast is proudly sponsored by Center for Financial Planning: Striving to Improve Lives through Financial Planning Done Right! https://www.centerfinplan.com/