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.
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.
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.
Call our office at 704-873-2295 or email us today.
Attorney Mike Lassiter grew up in Statesville, makes his living serving the people of Statesville and published a book capturing the changing landscape of small town life across North Carolina and Iredell County. His keen sense of history, dedication to the area and 30 years of legal experience make him an ideal attorney for your legal needs.
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