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Investing Your Divorce Settlement Could Provide Long-Term Financial Benefits

Posted on in Property Division

Wheaton divorce lawyersDivorce 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. 

Investing can counteract the risk of long-term financial problems, and it can provide a disadvantaged party with a safety net, should they ever need one. Depending on the situation, it could even provide the individual with the potential to create the very same lifestyle that they had, prior to the divorce. At the very least, smart investments can serve as a safety net, should a financial disaster ever strike. 

When and How to Invest Your Settlement

Investing is not a task that one should enter into lightly; even skilled and experienced investors can take a hit that costs them everything. Of course, these individuals often have a backup plan or a diverse portfolio that they can pull funds from in the event of a crash. At the very least, they are likely to have more income to invest. For a novice with no safety net and little to no income, the risks are far greater. That is why every divorced party should seek assistance from a skilled financial investor before investing any of the money from their divorce settlement.

Our Wheaton Divorce Lawyers Can Improve Your Financial Situation

When you are financially disadvantaged in a divorce, every penny of your settlement counts. Side with the Wheaton divorce lawyers that make your best interests and financial future a top priority. Contact Davi Law Group, LLC for a personalized consultation and see how we can help improve the outcome of your divorce. Call 630-580-6373 today.

Source:

https://www.forbes.com/sites/robclarfeld/2018/02/21/divorce-investing-your-financial-settlement/#20edc9844d94

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