Most people contemplate divorce for six months to a year before taking any action. They may limp through the holiday season, filled with family events and traditions, unwilling to confront difficult issues.  But when the holiday bills arrive and one more Valentine’s Day is a disappointment, February 15 can be the day to take action.  It can be one New Year’s resolution that you keep. It can be your way to protect your romantic heart’s future.

But who is going to protect your finances during this difficult transition?

Regardless of when someone decides to end their marriage, I advise them not to try to go thru the process without a Certified Divorce Financial Advisor (CDFA^TM) to protect their financial interests.

You go to a divorce lawyer for legal advice and strategy; your CDFA professional is the instrument to clarify the financial aspects of the strategy.  Your CDFA gets and analyzes the numbers, and helps you quantify your goals.  This makes it easier for your attorney to move forward with the legal process, and can speed a successful outcome.

Working with clients and their lawyers, a CDFA forecasts both the short and long-term effects of the proposed settlement, letting you know what the financial future may bring with Settlement A vs Settlement B, and gives your attorney the reports and tools they need to help settle your case.

So if your Valentine Day is the final disappointment, take heart.  A new start can lie ahead with all of your interests protected.

Most people contemplate divorce for six months to a year before taking any action. They may limp through the holiday season, filled with family events and traditions, unwilling to confront difficult issues.  But when the holiday bills arrive and one more Valentine’s Day is a disappointment, February 15 can be the day to take action.  It can be one New Year’s resolution that you keep. It can be your way to protect your romantic heart’s future.

But who is going to protect your finances during this difficult transition?

Regardless of when someone decides to end their marriage, I advise them not to try to go thru the process without a Certified Divorce Financial Advisor (CDFA^TM) to protect their financial interests.

You go to a divorce lawyer for legal advice and strategy; your CDFA professional is the instrument to clarify the financial aspects of the strategy.  Your CDFA gets and analyzes the numbers, and helps you quantify your goals.  This makes it easier for your attorney to move forward with the legal process, and can speed a successful outcome.

Working with clients and their lawyers, a CDFA forecasts both the short and long-term effects of the proposed settlement, letting you know what the financial future may bring with Settlement A vs Settlement B, and gives your attorney the reports and tools they need to help settle your case.

So if your Valentine Day is the final disappointment, take heart.  A new start can lie ahead with all of your interests protected.

One way to look at your Risk Tolerance is your emotional and financial capacity to ride out the ups and downs of the investment market without panicking when the value of investments goes down.

Where do you fit? See if one of these “Financial Personalities” matches you:

• Are you a Relationship Rosa? Rosa has a high risk tolerance, but is not very involved in her financial planning. She focuses on her family and loves talking about the adventures of her life. If you are a “Relationship Rosa,” you trust fully the decisions being made on your behalf. When it comes to financial matters, Rosa is easily influenced by others in her life. She therefore needs to align herself with financially astute advisors and family that she trusts.
• How about a Powerbroker Pam? Pam has a very high risk tolerance but is willing to back it up with a very high involvement level. She wants to be in control and take charge. She is very direct, and is very knowledgeable about financial planning and finances in general. Pam is not likely to be easily influenced by those around her – and is more than willing to do her homework to make the right decisions.
• Or does a Traditional Tess describe you better? Traditional Tess has the lowest risk tolerance level and also has the least interest in being involved in the financial planning process. Tess has a high fear of change. Tess wants to trust those around her but will do so only after they have proven themselves to be in her corner.
• And then there is a Deliberate Dee. Deliberate Dee is on the low end of the risk tolerance spectrum but does want to be highly involved in her financial planning. Dee is already somewhat knowledgeable but will also continue to research and learn. Dee needs to feel safe in who she aligns with and when she is – is willing to take on some risk.

Understanding your financial persona will give you great insight into what types of investment strategies to employ in setting yourself on the path of financial freedom.

“I wish I had known.” “Why didn’t someone tell me?” “This is news to me.

How many of us have uttered at least one of those phrases in the last few months? How about over the last few years? We want to be informed. We are smart, independent, empowered women who are ready to take charge of their future. But how, exactly, do we do that? How do we get informed?

The easiest way to start is for every woman to ask herself some questions.  

1. When thinking about your future, what keeps you up at night?
   1. My family, kids or grandkids future
   2. Did my husband put enough money away for us?
   3. How is my portfolio?
   4. Has my 401(k) done well and will it last through retirement?

No matter what it is that makes you worry about finances, there are resources available to strengthen your ability to make the tough decisions.  The key is to access those resources and make decisions about those financial matters that are unsettled.  Ignoring the nagging questions won’t make them go away!

2. How involved would you like to be with your household finances and financial plan?
   1. I’d like to have a better understanding
   2. I’m fine with things the way they are
   3. I’d like to be able to collaborate with a financial professional to make some of my decisions.
   4. I’d like to be able to have some of my decisions made for me.

I don’t think many of us are truly “fine with the way things are” especially if we have not armed ourselves with the right knowledge to make sound judgements on our financial future. Whether we are an independent thinker, or someone who likes to collaborate, making decisions in a vacuum is a sure recipe for an unplanned financial future. And that ignorance brings fear and insecurity.

For even more guidance on how to Empower Yourself Financially attend this free seminar – November 16^th – Parkside Lodge, Buffalo. Register: https://empoweringfinancially.eventbrite.com/

“I wish I had known.” “Why didn’t someone tell me?” “This is news to me.

How many of us have uttered at least one of those phrases in the last few months? How about over the last few years? We want to be informed. We are smart, independent, empowered women who are ready to take charge of their future. But how, exactly, do we do that? How do we get informed?

The easiest way to start is for every woman to ask herself some questions.  

1. How involved are you with your household finances and financial plan?
   1. Somewhat involved- I give my opinion but generally let my husband/partner take care of that.
   2. Not at all involved- I let my husband/partner take care of all of it.
   3. Highly involved- I take care of all the household finances.
   4. Involved- I share the responsibility equally.

This question deals with much more than paying the bills. It’s about financial planning for the year, three years, ten, and even into retirement. It’s about participating in your own financial life,  monitoring your investments and about understanding how your financial needs will change through the years.. But how can you start doing this if you’ve never done it before? How can you feel like you have the information you need to make sound decisions. It all starts by putting pen (or pencil if you are someone who likes to change things) to paper and setting goals, understanding your income potential, and making the two match.

2. What are your top three sources for financial information?
   1. My family and friends, and (more specifically), my parents
   2. My husband/partner/lawyer/family member
   3. Websites, individual research, financial planning friends, influential/successful
   4. Books, websites, family members

All sources for financial information can be powerfully helpful. Speaking to family and friends about their successes in crafting their financial plan, or the pitfalls they’ve learned to avoid can help guide you. Talking with your partner to be sure your goals align is critical to developing a sound plan, and a better financial relationship, as well. And then doing some digging -there is much at our fingertips that helps us become smarter on nearly any topic. The point is to do it. Spend 30 – 60 minutes more each week than you currently do on becoming well versed in financial news, trends and resources. Do this on your own, with your partner, or with your broker’s help. The key to becoming empowered is the right information.

For even more guidance on how to Empower Yourself Financially attend this free seminar – November 16^th – Parkside Lodge, Buffalo. Register: https://empoweringfinancially.eventbrite.com/