Ethical Assets Pty Ltd • Authorised Representative No 1238517 of MyPlanner Professional Services  Pty Ltd AFSL No 425542

Phone: 0403 614 840 | Level 2 | 101 William Street | Darlinghurst NSW | 2010 | Sydney

  • Ethical Assets is on Facebook
  • David Lewis is on LinkedIn
Please reload

Recent Posts

Time to divest from fossil fuels

September 7, 2017

1/3
Please reload

Featured Posts

I survived divorce - but am starting over financially

October 13, 2017

 

Can you relate to this story?

 

You have been married for many years and have children and your own home.  Then, in a very short period, it’s all gone.  Your family unit, as you knew it, is gone.  Your former life partner has a separate life and half of your assets have disappeared.  Life as you knew it has changed forever.

 

Anyone who has been through this experience can tell you, separation and divorce is an emotionally draining and difficult process.  At the time you really wonder how you will ever get through it.

 

But you do get through it.  You survive and move on with your life.  However, once you come to terms with your new life, you are faced with another significant challenge.  You have to start over financially.

 

By now, however, you are past 40 and realise that time is not on your side.  You may have to buy a new home and your retirement savings may be significantly depleted.  How will you possibly correct this situation before you retire?

 

Here are a few suggestions based on personal experience:

 

  • Let go of any bitterness.  To successfully move on with your life you must let go of the past.  Bitterness and animosity will cripple your ability to focus on your future and find happiness again.

 

  • Focus on your future and what you want to achieve.  You need a sound plan and a strong savings and investment foundation to start building up your wealth position.

 

  • Get some help.  Work with a financial planner who you respect and trust.  They can help you clearly identify what you want to achieve and make a plan to get you there.  You’ll feel much better about your situation by doing this.

 

  • Protect your assets.  As you know by now, when relationships go wrong, your assets are at risk.  Entering into a new relationship will complicate the matter further, especially when a new partner has children from previous relationships.  Think through these issues in advance and work with a solicitor with both family law and estate planning expertise.  You both will probably bring assets into the new relationship and should discuss and plan how these should be treated in the event of death or separation and divorce.

 

  • Finally, don’t forget about insurance.  You are probably financially vulnerable following divorce.  Protecting your income against disability and ensuring your children are cared for in the event of your death are very important.

 

If this story resonates with you, why don’t you give us a call?  We can help you make your starting over a more positive experience.

 

 

Information contained within this document is of a general nature only.  Individuals should not act upon any such information without prior consultation with a qualified financial adviser to ensure that any action meets their personal financial needs, situation and objectives.  No responsibility is accepted for those persons acting on information contained herein and persons do so at their own risk.

 

Responsibility is disclaimed for any inaccuracies, errors or omissions.  Particular investments or insurance policies are neither invited nor recommended.  All expressions of opinion are published on the basis that they are not to be regarded as expressing the official opinion of any other person or entity unless expressly stated.

 

Ethical Assets Pty Ltd is a Corporate Authorised Representative No. 1238510 of MyPlanner Australia Pty Ltd AFSL 345905

 

Share on Facebook
Share on Twitter
Please reload

Follow Us
Please reload

Search By Tags
Please reload

Archive