The financial changes that happen when a marriage ends can leave both parties struggling to rebuild, especially if they are near retirement. Divorce can devastate a North Carolina woman’s retirement savings and plans for the future, but through the right course of action, it is possible for her to rebuild and move forward. The key to a strong financial future after a divorce is a reasonable and sustainable financial settlement.
Steps to rebuilding
Rebuilding after a divorce can be particularly complicated for women because they are often more likely to earn less than male spouses. Women are also more likely to be stay-at-home parents, and some may depend on their husbands entirely. A divorce can represent the end of their income, as well as a loss of half of their long-term savings. To prepare for the future, a woman facing a divorce would be wise to begin familiarizing herself with the couple’s finances.
After an analysis of her financial situation, a woman may then consider investing some of her portion of the divorce settlement. This may help her begin to rebuild long-term wealth. It will be important to save for retirement, starting as soon as possible after the divorce is final.
Confidence in the future
Any woman facing a divorce may feel concerned about her financial future. She will find it beneficial to work closely with an experienced North Carolina attorney who can help her pursue a final divorce order that will allow her stability and security long-term. An assessment of the individual situation will provide insight into how to fight for terms that allow for long-term security.