Why 61% of divorced women wish they hired financial advisors

Many women working their way through divorces have specific financial goals they wish to achieve, but not nearly as many take steps toward achieving those goals. When you divorce, you may focus on purchasing a new home, putting away more for retirement or creating a new stream of income, among other goals. If you have these or other financial objectives, it may suit your needs to hire a financial advisor.

Per Forbes, just 5% of women say they are aware of the benefits associated with hiring a financial advisor amid divorce. However, more than 60% of divorced women say they wish they had done so before their splits became final.

How financial advisors assist

Why do the majority of now-divorced women regret not having hired a financial advisor? For starters, a financial advisor may be able to help you set and take action toward achieving your financial goals. This might mean fighting for spousal maintenance, seeking certain high-value assets in the divorce or what have you.

An advisor may also help you consider all possible assets during your split, including those you might not have thought about. He or she may help ensure that you get your fair share when it comes to retirement accounts, college savings accounts, valuable heirlooms and antiques, and similar assets.

How financial advisors help you plan for retirement

Women also tend to live longer these days, which means you might need to save that much more for a comfortable retirement. A financial advisor may be able to help you prioritize socking away more for retirement, which is something 72% of divorced women say they did not do.

Find more about preparing yourself for life after divorce on our webpage.