Marilyn Wetston gives it to you straight “From a Woman’s Perspective” every Saturday morning at 8 on Zoomer Radio
This Saturday Share the exciting launch of the book “A Woman’s Guide to healthy Aging” with author Dr. Vivien Brown
Discuss Five tips for best outcome when you divorce from Darren Farwell of Scotia Wealth Management(*see below)
Then hear about the emotional dynamics of making a major move from Laurie Bell of Moving Seniors with a Smile
and learn the benefits of personalized home care from Nicole Troiano of Retire at Home
Plus get the scoop on upgrading your walker from Daniel Wiskin of the Total Access Centre,
From a Woman’s Perspective with Marilyn Wetston and her team this Saturday morning at 8 exclusively on Zoomer Radio.
Listen Now and enjoy:
Audio of promo:
#Divorce doesn’t have to be a wealth destroyer. With a long-term #financialplan, your new vision for the future can emerge.
Darren Farwell’s 5 tips for best outcome when you divorce:
- Financial Awareness
- Overall wellness includes financial awareness. Make this part of everyday life, it will require even more focus if you have to work through a divorce.
- Financial awareness includes an understanding of;
- Your Assets – all the things you own, what they are and what those things realistically are currently worth
- Your Liabilities – what do you owe, to whom and how much
- Your Income – what are all your sources of regular income, when do you receive this income and how much is it
- Your Expenses – how much do you spend monthly, each year
- Some of these details may be more difficult to get after the process of divorce has started, so make this awareness a regular routine
- Keep a copy of the last three years of tax returns for you and your spouse
- Keep these tax returns and your other records in a place that you can access them
- Make as budget
- Write out your priorities, what are the goals that matter most to you and what money will be required to achieve those goals
- How not why – Asking a question such as “Why did you suggest that?” can elicit a defensive response which distracts from the subject. If instead you ask “How did you come to that conclusion”, the discussion becomes more about the process and therefore may allow for more constructive discussion.
- 3. Out of Court – Settle out of court. The cost of going to court is very high and risky for both sides. Any money you were arguing over will simply get spent on the invariably high cost of the legal process.
- Pensions worth more than houses – The family home is a marital asset charged full of emotion. Those emotions are real, legitimate and ok. However, emotions should not make decisions. Financially you may very well be better off longer term by selling the home or exchanging the family home for other assets, such as pensions that end up putting more money in your pocket to enjoy your life and do those things that bring you happiness.
- Emotions – Don’t let emotions rule your divorce. Yes, this is easier said than done. An important step is to be aware.
- Don’t let guilt rule you
- Don’t make nice financially in the hope of getting back together
- Leave revenge at the door – legally the whys and wherefores don’t matter. These feelings are better addressed with someone trained to listen and give constructive feedback.
- Don’t succumb to threats or be threatening
- Focus on Problem solving – whatever you don’t agree on will get spent on the legal process of getting someone else to sort it out for you.