Divorce isn’t just emotionally difficult, it’s also one of the biggest financial changes people experience in their lives. Unfortunately it often has a devastating financial impact, especially on women and children. The repercussions of divorce extend far beyond the immediate separation, affecting overall economic well-being, retirement security, and long-term financial stability.
In this Ready Living Podcast episode, Michelle Petrowski, a Certified Financial Planner (CFP) and Certified Divorce Financial Analyst (CDFA), breaks down the financial realities of divorce and how women can protect themselves before, during, and after.
She shares practical insights into the preparatory steps women need to take if they’re considering or facing divorce. From gathering financial documents and understanding debt obligations to safeguarding credit scores and setting up independent bank accounts, she outlines a comprehensive approach to financial self-protection. She also discusses key aspects of asset division, social security benefits, and the crucial differences in divorce laws depending on whether spouses live in a community property or equitable distribution state.
Beyond divorce, she offers advice on how women can protect their financial future, even if they remain married. She emphasizes the importance of premarital discussions and agreements, proactive financial planning for stay-at-home parents, and ensuring that both partners recognize and account for the contributions made within a marriage, both financial and non-financial. By addressing these considerations early on, women can avoid potential vulnerabilities later in life.
As the founder of Being in Abundance, a financial planning and wealth management firm, and founder of Being Mindful in Divorce, Michelle is passionate about helping single, divorced, and widowed women create financial stability and wealth. She believes that when women have more financial security, they have more choices, and that these choices afford them the opportunity to be leaders in their families and communities.
Whether thinking about getting married, already married, or facing divorce, this episode will help listeners make informed decisions about their future. Michelle’s insights offer a roadmap for women to take control of their financial well-being and navigate major life transitions with greater confidence.
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