Ep. 155 - EMPOWER YOUR FINANCES - TOOLS AND TIPS FOR SURVIVING DIVORCE

Merging Life and Money with MJ Caesar

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In this empowering episode of "The Merging Life and Money Show," host Marie-Jo Caesar sits down with certified divorce financial analyst Leah Hadley to navigate the financial complexities of divorce. They discuss the importance of financial literacy, understanding assets and liabilities, avoiding common mistakes, and creating a sustainable post-divorce financial plan. Leah underscores the value of being informed, organized, and proactive with one's finances, offering practical tips and sharing success stories. The episode stresses education and emotional support as key to emerging financially strong post-divorce, encouraging listeners to actively manage their financial health.

THE THREE MAIN POINTS OF THE PODCAST ARE:

➊Preparing Financially for Divorce: This point covers the importance of getting organized, knowing your assets and liabilities, understanding your income and expenses, and ensuring you have cash savings. It focuses on the significance of financial education and awareness in navigating through a divorce with empowerment and knowledge.

➋Avoiding Common Financial Mistakes During Divorce Negotiation: Leah Hadley discusses common pitfalls and misconceptions in financial negotiations during a divorce. This includes issues such as the true affordability of keeping the family home, misconceptions about the taxation of various accounts, and the division of complex assets such as annuities and investments. It underscores the necessity for thorough financial analysis and strategic negotiation for fair asset distribution.

➌Making Settlements Last Post-Divorce: This point highlights the importance of crafting a sustainable post-divorce financial plan. It involves setting clear personal goals, prioritizing insurance to guard against unexpected expenses, and making financial decisions that ensure the settlement lasts while adapting to a changed income and expense situation.

THE KEY MOMENTS IN THIS EPISODE ARE:

00:10 Empowering Divorce: Financial Impact Uncovered

05:23 Plan for Stability: Minimize Post-Divorce Debt

07:59 Protect Credit During and Post-Divorce

10:13 Financial Settlement: Negotiate Assets Wisely

16:56 IRA Taxation: Pretax vs Tax-Free Explained

18:41 Consider Asset Value in Divorce Settlement

24:21 Budgeting Essentials: Post-Divorce Income & Expenses

26:24 Insurance Prioritization for Financial Security

30:09 Adjust Investments to Align with New Goals

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פרקים

1. Ep. 155 - EMPOWER YOUR FINANCES - TOOLS AND TIPS FOR SURVIVING DIVORCE (00:00:00)

2. Episode Introduction: Financial Divorce Preparation (00:01:50)

3. Steps for Financial Organization Pre-Divorce (00:04:03)

4. Budgeting and Emergency Savings Importance (00:06:06)

5. Protecting Credit and Financial Identity in Divorce (00:07:07)

6. Assets and Liabilities in Divorce Negotiations (00:10:13)

7. Avoiding Financial Pitfalls in Divorce (00:15:07)

8. Fair Division of Assets and Debts (00:18:41)

9. Post-Divorce Financial Planning for Stability (00:23:27)