Divorce can have a significant and negative impact on the financial aspects of one’s life, especially if they are financially disadvantaged (a non-earning spouse). Thankfully, these parties are often owed a settlement, which they are permitted to use however they see fit. Perhaps one of the most financially savvy moves is to invest the money, rather than spend it. Learn more in the following sections, including how an experienced divorce attorney can improve the outcome of your Illinois divorce.
Investing Can Provide a Lifetime of Income
Disadvantaged parties in a divorce are deemed as such because they lack sufficient income. Some also lack the health, skills, or training to obtain gainful employment right away. Such issues may entitle them to a settlement in their divorce, but it can also place parties at risk for divorce-induced poverty - especially if they fail to plan for the future. Some disadvantaged parties place themselves at even further risk by trying to maintain the same lifestyle that they enjoyed prior to the divorce. Sadly, that can cause them to run through their resources faster than anticipated, and often before a safety net has been created.