In the aftermath of a Florida divorce, many people are uncertain about their next steps. That's especially true in regard to finances, and for spouses who allowed their partner to handle most of the family's financial needs. Investing wisely after a high asset divorce can help establish lasting financial stability and should be a top priority. Ideally, spouses will begin planning for investment even before the settlement is signed.
Spouses who are new to investing will want to study up on their options and explore various courses of action. Having this basic information makes it easier to work with a financial advisor to create a plan. In terms of choosing a professional to work with, ask for recommendations from friends and family. Don't be afraid to ask questions, and don't hesitate to speak with more than one prospect. Take enough time to ensure a well-informed decision.
A financial advisor can help provide guidance and support from the initial meeting onward. When the market takes a turn for the worst, or a portfolio seems to be in rough waters, having that professional advice can make it easier to stay the course and avoid rash decision-making. An advisor also makes it easier to focus on other matters with the knowledge that one's money is in the right hands.
Making a divorce settlement work in one's favor often requires investing. For many Florida spouses, a high asset divorce can mean financial stability for many years to come. Without the proper guidance, however, that outcome is far from guaranteed.
Source: Forbes, "Divorce: Investing Your Financial Settlement", Rob Clarfeld, Feb. 21, 2018