Welcome to the second half of this two-part blog series. In last week’s post, Del Mar’s LPL Financial advisor John Lohrenz explained the first two important steps in rehabilitating your finances after a divorce, because even if you are already financially independent and/or are well-looked after by your ex, you still need to learn how to manage your new financial situation.
Let’s take a look at the next three points:
# 3: Get Back To The Drawing Board: Time For A New Financial Plan!
So a Category 5 hurricane has torn through your life and left your affairs looking disheveled to say the least. Surveying the extent of the damage, it can seem exceptionally hard to be positive about your financial future, but this is the perfect time to sit down and make some new plans. Things are different; you’re moving in a new direction now. Your resources and needs are different too, so you need a new financial plan. Start looking forward so you can stop lamenting the past. Seeking financial guidance from a professional is a great place to start. Our Del Mar located LPL Financial advisors can help review your current situation; which includes looking at your overall portfolio then providing you valuable advice on where to go from where you are.
# 4: Time to Focus on Your Career
If you’ve been a stay-at-home mom or a home executive while married, it’s time for a whole life makeover. It’s just you now, so you can channel 100% of your focus into your career. If it’s not on the right track now, it never will be unless you make the necessary changes.
“Even if you have children to look after, you can make some time to study, perhaps enroll for an online course, update your resume and see what the job market is offering,” advise Del Mar’s LPL Financial advisors.
Who knows? You may just find a much better opportunity out there, which will see you earning more and perhaps enjoying a healthier and more inspiring working environment. Plus, a change, new challenges and a new routine are chicken soup for the soul after the trauma of divorce.
# 5: Tie Up the Loose Ends
Don’t allow months and years to go by before you sort out your financial affairs. Del Mar’s LPL financial advisors remind us that there are wills to be rewritten, retirement documents to be revised, insurance policies to be amended and investments to be sorted out. Spring clean your financial life and get all that nasty administration work dusted and done. A neat and organized financial life will help you move along far quicker in the direction of ensuring your financial life stays on track.
If you have any questions at all or would like individualized investment advice from our Del Mar LPL Financial advisor, please contact JKL Wealth Management at:
Phone: (858) 535-1705
Fax: (858) 535-1701
Alternatively, fill out the Contact Form and we’ll get back to you shortly.
731 S. Hwy 101, Suite 2K, Solana Beach CA 92075
Securities and Advisory services offered through LPL Financial, a registered investment Advisor. Member FINRA/SIPC.