Wealthy Widows and Divorcees Require Special Care

The title of the article come from Financial Advisor IQ, but it’s a take-off on a blog post at the Huffington Post.  The article makes the point that

Some $25 trillion will be passed to women over the next two decades as a result of divorce, the death of a spouse or other inheritance …

That’s a big number.  And the author’s point is one that we have experienced at Korving & Company,

Oftentimes, these women are not actively involved in either the day-to-day management of their household money or the management of their investments. While they may have considerable assets to meet their financial requirements, they’re starting from a handicapped point of view, both from an educational standpoint as well as an emotional one.

What do we recommend?

  • Don’t make big decisions quickly
  • Get a financial advisor if you don’t already have one.
  • Work with your advisor to create a plan and a budget
  • Meet regularly with your financial advisor
  • Keep all your financial assets in a brokerage or bank account

And get a copy or our book: Before I Go by contacting us via our website.

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