By familiarizing yourself with the twelve financial pitfalls of divorce, you can save yourself a lot of heartbreak—and hassle—in the future.
Tue, Sep 8, 2015 1:00 PM - 2:00 PM EDT
Each year, nearly 2.8 million men and women go through the emotional and financial trauma of divorce. During divorce, many women are concerned about financial survival—and with good reason. Studies show that in the first year after divorce, the wife’s standard of living may drop almost 27 percent while the husband’s may increase by as much as 10 percent.
Many factors combine to lower women’s standard of living after divorce. Child support may not be adequate to cover the true costs of child rearing, and she might have lost many important years of career growth, making it difficult for her to get back on her feet after divorce.
Advance planning goes a long way. By familiarizing yourself with the twelve financial pitfalls of divorce, you can save yourself a lot of heartbreak—and hassle—in the future.
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