Ep 23: Retirement & Divorce – How Do You Handle Your Home (Part 1)
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Going through a divorce at any age is difficult but doing it near or in retirement adds all sorts of additional complications. On this episode, we’ll talk about some of the financial mistakes we see people make in the midst of a divorce.
Divorcee are often in a more complicated financial situation than many of the widows and widowers we work with. The reason being widows and widowers had their portfolio in front of them and everything was set while divorce makes planning and decision making difficult because so much is unsettled.
In this part one of our conversation, we’ll focus on how the house gets handled,
Here’s some of what you’ll learn on this episode:
- Choosing the house over other financial assets isn’t necessarily the best outcome. (3:12)
- How the mortgage gets settled during the divorce process. (8:25)
- The two factors you have to consider – the affordability of the home and the emotional connection to the home. (10:29)
- How the kids factor into this decision and what considerations need to be made. (14:59)
Check out Donna’s new book coming out soon: https://www.widow-wisdom.com/
Visit us online: https://sephtonfinancial.com/
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