More and more people over 50 are divorcing and that can mean financial confusion for the majority of American women who leave their fiancial planning to their husbands. Ken Moraif of KTRH's Money Matters has some advice.
“Find a Financial Advisor you can trust and that you feel comfortable with. Shop around. Look for references. The money and investments you receive after your divorce will have to help carry you through retirement and help you continue with your lifestyle. It should be managed properly.”
Surprisingly, even more millennial women rely on their spouses for investing than their baby boomer mothers. Moraif says, “In our practice me strongly advise both spouses attend our semi-annual meetings. We’re especially careful that the non-investment savvy partner understands what we’re doing with their money. It’s never too early or too late to learn.