What happens when life takes an unexpected turn through divorce? In our latest video, Russell Rivera delves into the emotional and financial complexities of separating from a long-term partner. Discover how targeted financial advice can make a significant difference.
Topics Discussed:
Emotional and financial challenges of divorce
Managing shared finances and assets
Setting individual financial goals
Strategies for financial independence post-divorce
You can watch this video and others on the Voice Wealth Management YouTube channel.
Transcript:
Hi, I'm Russell Rivera and this is Sidewalk Talk. While we may not be on the sidewalks of New York City today, I wanted to get this off by looking at these buildings in New York City. So today I want to talk about something that's never easy: divorce. And I wanted to share a little bit of a client story as to how I've helped clients get through this and feel good, at least a little bit at the end of the process.
So imagine you've been in a relationship for decades and now you've sent your daughter off to college and you realize it's not quite working out for the two of you. What next? Well, of course, this could be a really emotional time, trying to feel the emotions of a faltering relationship, as well as the emotions of the money, the family home, all of those things. Well, what happened with these clients? They've done a lot of the work on their own. They decided we're going to talk about the financial elements and get those out of the way and move on to the next step. Well, once they told me, then we said, let's talk to you each individually and figure out what are your individual goals, what are your aspirations, and then maybe ask them some questions and say, well, maybe you want to investigate changing that for your personal goals.
Well, I did that for both partners, or now soon-to-be ex-partners, and everybody was happy with the arrangement. I helped them get past the lingering emotions of the money and help them figure out what matters most, which is their next step and their financial independence. With that, they were able to both move on separately, but together. If you're facing a similar situation, you don't have to go through it alone. We can help. Give our office a call or visit voicewealth.com and we can help you with this challenging time.
Russell D. Rivera, CFA, CFP® is the Founder and President of Voice Wealth Management (Voice) in New York, NY. He also likes to think of himself as a Personal CFO and Financial “Therapist” for entrepreneurs, young professionals, and their families. He helps clients make prudent financial decisions regarding spending, saving, investing, and planning while giving a voice to the individual client's financial priorities and experiences.