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5 Refreshing financial steps women should take before and during a divorce (or during any life transition)

I know this is a finance post, but before I jump into giving you a checklist for financial steps to take before and during divorce, I first want to say: Stay positive and remember you WILL get out of this. Positivity can carry you further than you’d ever imagine when the chips are down. It’s good for your brain, your body and your soul. When all those are all aligned, the financial steps become a non-emotional step in the process.

10 steps to take if you want to retire in 10 years

Include these steps in your overall retirement plan….

  • Review your social security account at: http://www.ssa.gov/myaccount/
  • Make sure your account looks correct and get an estimate of the benefits you’ll receive.
  • Save as much as you can now – max out your 401K savings; IRA accounts; and other investment savings. These are your high-earning years – use them wisely.

Investment Mistakes Made by My Younger Self…and What I Learned

When I was in my twenties and newly married, I went to have a financial plan done with one of the popular investment firms in this vast marketplace. I ended up investing in a number of products I did not fully understand, including a variable life insurance policy and a long-term partnership fund. My hard-earned savings (which I thought was a lot at the time), quickly disappeared into the insurance policy–along with the monthly payments now due for the policy. The partnership and a number of small mutual funds never grew much. When making mistakes, the best part is learning from them, right? These are mine: 

Who’s in the Bunker?

Well that was a pretty wild roller coaster yesterday, wasn’t it? How many times did you cover your eyes but peeked through your fingers? Did you immediately go to your account balances and cringe? If you did, that’s certainly ok—and a normal reaction. It’s also perfectly normal for you to have either called your advisor or thought about taking everything out yourself.

Do you know more than your financial planner?

Ever read an article, watch a how-to YouTube video or a presentation at work and think ‘Well, I knew that already.”? Do you finish reading or keep listening? Most people do. And they sit and be quiet without asking or thinking about questions and initiating a more in-depth conversation.

Do you know more than your financial planner?

Ever read an article, watch a how-to YouTube video or a presentation at work and think ‘Well, I knew that already.”? Do you finish reading or keep listening? Most people do. And they sit and be quiet without asking or thinking about questions and initiating a more in-depth conversation.
In most cases, you ARE going to have some prior knowledge about your finances, your goals, or suggestions your planner is already sitting across the table discussing with you. And that’s perfectly OK. No one wants to have a one-sided conversation rattling off a grocery list of items to do in order to get your financial plan in place.

Put your finances at ease if you find yourself in a job transition

So you’ve decided to start a new job, a new career or were told your position is being eliminated. What’s the VERY first thought that runs through your mind? It might a big *gulp*, and then it might be ‘will I be OK financially?’ First of all, let me tell you—the answer is YES. It’s happened to more people than you probably realize, and they all figure it out just fine.