Solana Beach Financial Advisors: 13 Ways Women Can Become Financially Educated, PART 3

This three-part article series provides a discussion on 13 different ways women can seek to expand their financial knowledge and in doing so, become more educated in their decision-making and successful!

Welcome to the final installment of this three-part article series on the 13 ways women – regardless of marital status or vocation – can advance their financial education and in doing so, achieve greater personal wealth and business success. In Part 2, we explained the following five points:

•    Read financial magazines and newspapers, both local and national.

•    Talk to stock, real estate and business brokers, especially the successful ones because they are generally very enthusiastic about sharing their experience.

•    Speak to other people who have invested in the assets in which you are interested. Learn from their mistakes and heed their advice.

•    Join an investment club for women and if there isn’t one in your area, be the first to start one!

•    Become a CASHFLOW club member and stop wasting your time and brain cells on games like Candy Crush.

Let’s take a look at the five final ways Solana Beach’s female residents can begin to further their financial education…

Become Financially Educated # 9: Get Online!

The Internet is the largest and most easily accessed resource you have for information on finances, investments and assets. Get online and start reading up about any investments you might be interested in. There are YouTube videos, Wikipedia articles, news articles, blogs, discussion forums and many other reading materials that can get you more familiar with the world of finance and investing. This can be a good place to start and can at least help you arrive at some definite questions for your financial advisor.

Become Financially Educated # 10: Take a Drive Around Solana Beach

If you’re thinking of investing, get in your car and take a drive around your own neighborhood. Use your eyes and instincts to get a feel for what is happening in your own backyard or whatever neighborhood, town or city you do live in. What businesses are doing well? Which areas are doing well from a real estate perspective? Solana Beach asset management experts always recommend becoming familiar with your micro-economy and market as it could educate any future decisions you make to invest in property.

Become Financially Educated # 11: Turn on the TV

There are a myriad of television shows that pivot around investments, financial news and other financial topics. Some are a little drier than others, but are still full of the latest facts and figures concerning the stock market and global trade. Then there are those more entertaining reality shows, such as the Dragon’s Den. Listen to the financial report in the mornings while getting dressed and ready for work – this will help you stay informed - and entertain yourself in the evenings with a reality show with a financial theme.

Become Financially Educated # 12: Subscribe to Financial Newsletters

Just about every online news website, channel or station offers readers the option to subscribe. Sign up for a couple of these and have a read through their periodic newsletters to keep a finger on the pulse of what’s happening locally and globally in the world of finance. Take note of any projections and see how reliable their forecasts are as this may help you to make future investment decisions.

Become Financially Educated # 13: The Only Stupid Question is the Unasked Question

There’s no such thing as a stupid question! I always encourage people to ask their financial advisors whatever questions they might have no matter how simple. They are the ones with the education and experience in finance and investment and they certainly don’t expect their clients to know everything about this field.

Remember, the more questions you ask to the Solana Beach financial advisors, the more you’ll learn. Don’t be embarrassed and don’t allow pride to get in the way. You’re in the pursuit for knowledge that will empower you and all of your future financial decisions.

Solana Beach Financial Planning Advice For Women - 13 Ways To Become Financially Educated, PART 2

This three-part article series provides a discussion on 13 different ways women can seek to expand their financial knowledge and in doing so, become more educated in their decision-making and successful!

Welcome to the second installment of this three-part article series on the 13 ways women - regardless of marital status or vocation - can improve their financial education and in doing so, achieve greater wealth, independence and personal success.

In Part 1, we explained the following three points:

• Read books on finance, investing, business management and more.
• Listen to podcasts and audio books while in traffic, or at home.
• Attend educational conferences, seminars and workshops hosted in your area.

Let's jump right back into it and find out how else Solana Beach women can become their own great financial planners!

Become Financially Educated # 4: Read Financial Magazines and Newspapers

There is a plethora of financial literature available in magazines and newspapers such as the Investor's Business Daily and The Wall Street Journal. Subscribing to these and to local business journal newspapers and magazines will help you keep a finger on the pulse of the latest investment and financial news. Most Solana Beach financial planners begin their day by perusing this literature, so if it's good for them, it's good for you!

Become Financially Educated # 5: Talk to Stock, Real Estate and Business Brokers

These professionals are extremely valuable resources, which you should tap into for information and advice. Just be careful and remember at the end of the day their advice will likely be geared at trying to get you to buy something, so take it with a pinch of salt. In my experience, the more successful a broker is, the more open they are to sharing their experience and education with someone else, so take full advantage.

Become Financially Educated # 6: Speak to Other Investors

Do you have an idea of what you'd like to invest in? Are you considering purchasing artwork and antiques or putting those savings into stocks and bonds? Find people who are already investing in the assets you are contemplating and see what they have to say. Successful antique and art dealers and other successful investors are typically very happy to share their knowledge with others and their experience can prove extremely valuable to you.

Become Financially Educated # 7: Join an Investment Club for Women

You're not the only female Solana Beach resident who would, given the chance, like to learn more about Solana Beach wealth management and investment! In fact, the majority of investment clubs are owned and run by women for women. You've got to be aware of the agenda of these clubs, though. Some have formed with the goal of pooling money and investing it together. The kinds of stock market investment clubs you should be on the look out for are those that promote education and the sharing of experience, advice and information. If you don't find what you're looking for in your neighborhood, here's an idea... start your own club!

Become Financially Educated # 8: Become a CASHFLOW Club Member

CASHFLOW is a fun, entertaining and educational app that you can easily download onto your smartphone. It's become so popular, in fact, that several clubs have sprung up around the world, which act as forums for CASHFLOW fans and enable members to chat about their investment goals, share advice and information and even occasionally host guest speakers. Join your local CASHFLOW group and if there isn't one near you, then get online and start playing it for free! Wealth management education has never been this fun for Solana Beach women.

Stay Tuned for Part 3

Stay tuned for the final installment of this three-part article series to find out the remaining ways you can easily and enjoyably become financially educated!

Solana Beach Wealth Management Advice for Women - 13 Ways To Become Financially Educated, PART 1

This three-part article series provides a discussion on 13 different ways women can seek to expand their financial knowledge and in doing so, become more educated in their decision-making and successful!

The benefits of a sound financial education are innumerable for Solana Beach residents. One of the keys to great wealth management is investing and one of the keys to investment success is smart decision-making! Your financial advisor is there to help you with those decisions, but becoming financially educated yourself can enable you to blast through economic adversity and help you achieve fantastic success in both business and personal wealth.

The great news is you don't need to enroll at a university or sign-up for an online course in order to become financially educated. All you really need to do is become interested! Once that piece of the puzzle is in place, your natural inquisitiveness will take over and you can then, piece-by-piece, begin to add to your financial know-how.

And so, in this three-part article series, we shall reveal the 13 ways women - regardless of marital status or vocation - can seek to improve their financial education and in doing so, achieve the wealth and independence they utterly deserve!

Where Women Begin Looking

Naturally, the first place anyone starts looking for information is the Internet, but this can actually prove to be a rabbit warren of second-rate advice that actually borders on demeaning. There are few truly valuable resources aimed at helping women become financially educated. And the blogs, websites and forums that are available tend to provide pithy advice on how to save pennies at the grocery store and balance a checkbook.

Sure, it's useful to read advice on how to minimize your expenses, save money on insurance and the like, but we're talking about the kind of financial education that will see female Solana Beach residents making savvy investment decisions and, in doing so, secure yourself a rich and exciting life and retirement. We're looking at the big picture!

And so, this brings us to the first of 13 ways women can begin learning the language of the world of finance and investment. Let's get started!

Become Financially Educated # 1: Read Books

Take a look at the "finance" or "wealth management" aisle in any Solana Beach bookstore or library. There is an abundance of books on finance, wealth management and investing, some of which are targeted at business professionals and others that are targeted at complete novices. So no matter how much or how little you know about investing, you can begin your education by choosing books that suit your needs and match your level of experience. Then start reading!

Become Financially Educated # 2: Listen to Podcasts and Audio Books

Reading not quite your thing, or don't have time to sit down with a book? That's fine, because according to many Solana Beach financial planners there's a wealth of information available through podcasts and audio books. Download some audio material on investing, finance and business management onto your smartphone and instead of sitting in traffic listening to one vapid DJ drone on about the latest Kardashian drama, get educated.

Become Financially Educated # 3: Attend Educational Conferences, Seminars and Workshops

Keep an eye on the forum board of local Solana Beach businesses, community colleges, clubs and groups as you'll find they frequently offer educational talks, conferences, workshops and seminars on finances, investing and other business-related topics. Some of these programs are specifically designed for women, while others are for everyone. Regardless, get in on the action and learn from some of the best and most experienced professionals in the industry.

Stay Tuned for Part 2

Stay tuned for the second installment of this three-part article series to find out more ways you can easily and enjoyably become financially educated!

Should I Keep the House or Not? Asset Management Advice for Del Mar Residents Going Through Divorce, PART 4

This four-part article series poses a series of questions to help people going through divorce decide whether it is in their best financial interests to keep the house or to sell it and split the money.

Welcome to the final installment of this four-part article series on whether it’s a good or bad idea for you to keep the house post-divorce. So far, we have posed the following exigent questions to Del Mar residents facing this situation and the totally new asset management picture that comes with it:

1.    What does your house mean to you and could you perhaps find its virtues in another home elsewhere?
2.    How long do you plan on staying in your house post-divorce?
3.    Does it make financial sense to continue to own the house jointly with your ex?
4.    If you do opt to keep the home, what assets of yours would you have to sacrifice to compensate for your ex’s equity?

Let’s continue with two final questions you should be asking yourself if you’re considering keeping the house post-divorce.

“Should I Keep the House?”

Question # 5: Can You Afford to Keep the House and to Pay its Mortgage?

Image courtesy of Free Digital Photos

You may be seduced by your current low mortgage rates, but deciding to take the house in divorce begins a long and costly chain of events that could see you regretting this decision in the first place.

When one spouse takes the house, he or she will need to have the mortgage refinanced so that the other spouse’s name is taken off the mortgage agreement. This process costs money and then you’re facing new monthly payments that, at today’s interest rates, aren’t quite as favorable anymore. So be wary, say asset management experts in Del Mar.

In addition to refinancing, you’re also looking at the responsibility of being the only one who pays for the maintenance and upkeep of the property. This might become especially expensive if it has been months or even years since you and your ex put any effort into fixing and maintaining the house.

Keeping a house that hasn’t received any maintenance or upkeep in more than a year could end up being a catastrophic financial decision for residents. You’re not only inheriting a house that is falling down around you, but also all of the bills that come hand-in-hand with it. If you sense your marriage is on the rocks and want to keep the house, many Del Mar LPL financial advisors suggest that you begin the process of fixing and maintaining it while your assets are still shared.

“Should I Keep the House?”

Question # 6: Do You Understand the Tax Consequences of Keeping the House?

When it comes to tax, if you’re not in the know, you stand to lose a considerable amount of money.

Oftentimes, it benefits both partners to simply sell the home jointly while it’s listed under both of your names. If you have lived in a home for between two to five years before you decide to sell it, you can exclude $250,000 of its capital gain from your tax bill, and $500,000 if you sell it jointly with your ex, according to asset management law.

Image courtesy of Free Digital Photos

But, if you keep the house and refinance it so that you become the sole owner, you alone shoulder the capital gains liability and the cost of the sale. If your home has appreciated in value by more than $250,000, you will be responsible for paying tax on that excess, whereas if you had simply sold the house while it was under both of your names, the $500,000 exclusion would have saved you all of that money on tax.

This is something Del Mar residents should calculate and consider with the help of a financial advisor before making any major decisions with regards to home ownership.

Should I Keep the House or Not? Financial Planning Advice for Del Mar Residents Going Through Divorce, PART 3

This four-part article series poses a series of questions to help people going through divorce decide whether it is in their best financial interests to keep the house or to sell it and split the money.

Welcome to the third installment of this four-part article series on whether it's a good or bad idea for you to keep the house post-divorce. In Part 1 and 2, we discussed the following questions in order to help Del Mar residents make better financial decisions and plans when deciding who should keep the house.

• What does your house mean to you? Could sentimentality be coming between you and the best financial and emotional decision for you and perhaps your kids?
• How long do you plan on staying in your house after divorce? If it's only for a short time, selling up while you're still processing the divorce might be the best decision as it saves you money on refinancing, upkeep and selling.

Let's continue with the next two important questions you should be asking yourself if you're considering keeping the house post-divorce.

"Should I Keep the House?"

Question # 3: Does it Make Sense to Continue to Own the Home Jointly With Your Ex?

Another option is to hold on to your home and continue to own it jointly with your ex. This often works out very favorably with more amicable divorces, according to many Del Mar financial planners. Doing it this way saves money on refinancing your home to get your ex's name off the mortgage. Additionally, you won't have to trade any of your own assets for his or her equity, such as your retirement fund. You simply continue to own the house together, paying the same mortgage and sharing in the costs of upkeep. When you do decide to sell, you split the costs of the sale down the middle, as well as the value of the house and its appreciation.

"Should I Keep the House?"

Question # 4: If You Keep the Home, What Assets will You Have to Sacrifice?

If you want to keep the house, you're looking at trading some of your valuable assets to compensate for your ex's equity. It's at this juncture that many Del Mar residents make the potentially poor decision of trading their retirement assets for their ex's half of the home. What you need to decide is whether you can replace those assets before you reach retirement, otherwise you may find yourself in a financial pinch, even though you have held on to the house.

Divorce can hit retirement plans especially hard, because you're essentially splitting your retirement funds in half. Also, it can be hard to focus on the future when the present is so tumultuous. What you should ask yourself at this time is whether you can afford to give up your savings and retirement provisions to keep the house. Speak to your financial advisor or retirement planner about this. If you can't, you'll only end up having to sell the house when your already exhausted funds run dry. You may only be postponing reality by keeping the house.

Stay Tuned for Part 4

Stay tuned for the final installment of this four-part article series to read more about asset management in Del Mar like financial advice on whether Del Mar residents going through divorce should hold on to the house or not.

In Part 4, we'll provide a recap of the questions explored thus far, before taking a look at these final two:

• Can you afford to keep the house and pay its mortgage?
• Do you understand the tax consequences of keeping the house?

Should I Keep the House or Not? Financial Advice for Del Mar Residents Going Through Divorce, PART 2

This four-part article series poses a series of questions to help people going through divorce decide whether it is in their best financial interests to keep the house or to sell it and split the money.

Welcome to the second installment of this four-part article series on whether it’s a good or bad idea to keep the house post-divorce. The answer to this exigent question, of course, varies from person to person and depends on a suite of variables. In Part 1, the first important question financial planners in Del Mar tend to urge divorcing Del Mar residents to consider is what their home meant to them and why it is they would want to hold on to it. Could the benefits and advantages of staying there be found elsewhere? Was the decision made emotionally or because the home really is practical and safe, in a good neighborhood, close to good schools? etc.

Image courtesy of Free Digital Photos





Now let’s take a look at the next important question anyone going through a divorce should ask themselves when considering whether or not to keep the home.

“Should I Keep the House?”

Question # 2: How Long Do You Plan on Staying if You Keep Your Home?

Do you plan on living there indefinitely? Do you wish to leave your family home to your children? Or do you just want to stay there until your kids have finished school and have moved out?

Not surprisingly, how long you plan to stay in your home after divorce can really have a big and important impact upon your decision to keep it or not, according to many Del Mar financial advisors. Many people go through the trouble of refinancing the mortgage after a divorce, which is a very costly process, only to end up moving out once they’ve met someone new perhaps a few years down the line. Selling the house is another issue entirely! You’ve got to get it into sellable condition and then pay real estate agent’s commission and taxes, so ask yourself whether this is all worth it given the period of time you wish to stay there.

While it’s not possible to predict with any certainty what may happen in the future, you can at least decide how long it is you’d like to stay in the home and under what circumstances you’d be tempted to sell. Keeping the house for only a few years and then selling it could see you losing money to the afore-mentioned costs. However, keeping the house for a longer time – perhaps 10 years or more - allows the price to appreciate above the costs of upkeep, taxes and resale, which negates any losses you might incur.

If you don’t want to get involved in any of this from the outset, then liquidating your home during in the process of divorce and splitting it down the middle might be the best bet for you and your ex.

Image courtesy of Free Digital Photos

Stay Tuned for Part 3


Stay tuned for the third installment of this four-part article series to read more financial planning advice on whether Del Mar residents going through divorce should hold on to the house or not. In Part 3, we’ll examine advice surrounding the following two questions:

Does it make sense to continue to own the home jointly with your ex?

If you keep the home, what assets will you have to sacrifice?

Should I Keep the House or Not? Financial Advice for Del Mar Residents Going Through Divorce, PART 1

This four-part article series poses a series of questions to help people going through divorce decide whether it is in their best financial interests to keep the house or to sell it and split the money.

Going through divorce can be a terribly difficult and tumultuous experience. Not only are you trying to cope with the emotional ramifications of splitting from your partner, but now you've got to organize the splitting of all your joint assets too! The question many Del Mar residents ask their financial advisors at this time is: "Should I keep the house?"

It can be tempting after all, your entire house is also your home and it can feel like a safe haven from the full-force emotional storm that is causing havoc in every other sphere of your life. Having to pack up the house and go through the long and arduous task of marketing and selling it can seem like too much at this fragile time. Then, of course, there's the fact that property is a major asset and holding on to it after divorce can seem like you're walking away with the better end of the deal.

However, in this time of great change, it is absolutely fundamental that you make all the necessary considerations before deciding whether to hold on to the house or not. Sure, it may be the better decision for you in the long run, but it might also not be, which is why the residents who are going through divorce should consider the following six questions relating to wealth management in Del Mar.

We shall be exploring these questions in this four-part article series.

Should I Keep the House?

Question # 1: What Does Your House Mean To You?

It may be your immediate and strong impulse to want to hold on to your house. It's where you've lived, loved and raised your kids for years and after all the loving attention and investment of time and money you've made, it has become an extension of your very being. But ask yourself whether these are good enough reasons to hold onto the house after divorce. Could staying be holding you back financially and emotionally?

Del Mar financial advisors often recommend to clients that they make a list of all the things they love about their home. Oftentimes, criteria such as its location, its proximity to schools, the neighborhood, etc. come up and in most cases; these criteria can be achieved elsewhere. There are many lovely neighborhoods, many of which are close to good schools. It is possible to find a new house in Del Mar that meets every item on that list you have made about what you love about your home.

You need to separate your emotional attachment to your house from its more practical benefits, because the latter can easily be found elsewhere. And if it does make financial sense for you to move to a new home, you shouldn't allow sentimentality to prevent you from moving forward, financially and emotionally.

Stay Tuned for Part 2

Stay tuned for the second installment of this four-part article series to read more financial advice on whether Del Mar residents going through divorce should hold on to the house or not. In Part 2, we'll examine advice surrounding the following question:

How long do you plan on staying at your home if you do keep it?

Del Mar Financial Advisors Explain The 8 Possible Financial Consequences Of Divorce and How To Avoid Them, PART 4

This four-part article series explains the many financial pitfalls associated with divorce and how women can best avoid them through careful research and the right planning.

Welcome to the final installment of this four-part article series on the possible financial consequences of divorce and what women can do to avoid or at least offset them.

To Briefly Recap:

Thus far, I've covered the following great tips, which I discussed with a reputable Del Mar asset management firm:

#1: You need to start squirreling away funds to sustain you through the expensive aftermath of divorce.

#2: Take the time to complete the things that need to be done before the financial and emotional turmoil hits at full force (put new tires on the car, get the children's teeth done, buy some clothing, etc.).

#3: Accumulate neat copies of all your financial documents and records, from wills, banking details, insurance policies and car registration to property deeds, trusts and tax returns.

#4: Don't overlook any assets. Make a detailed inventory list of all the items owned by you and your husband (of tangible and intangible value) and fight for half.

#5: Always consider the tax consequences of any financial decision you make in your divorce because they could see you walking away with substantially less than you deserve.

#6: Don't make emotional decisions and don't allow your anger, sadness or guilt to get in the way of your negotiations. Be professional and business-like, but keep things amicable. Only lawyers benefit from ugly divorces.

Let's look at those final two consequences and the lessons women should draw from them.

Consequences of Divorce # 7: Not Fighting for what's Rightfully Yours

You've loved him for years and ultimately don't want to hurt him. It's in your nature to be sensitive and supportive of those you care for, so it can be tempting to just walk away from many of the costlier assets you and your husband have accumulated and that he in particular covets. But, this can be a terrible financial decision for you. You are already going through the motions of a divorce... this is not about making friends.

You should be firm about getting what you deserve and what you need in order to move forward, not on the distant eventuality of being friends with your ex. So, for example, even if your husband's car costs more than yours, you should view the two as equal property and split the costs down the middle.

Consequences of Divorce # 8: Ignoring Your Own Career

It's far from uncommon for women to make their careers second or even third priority while married and especially with children in the picture. The shocking realization of this only hits after divorce, and with the added responsibility of supporting yourself without financial support from a spouse.

What You Should Do

"Prepare yourself to prioritize your career!" say Del Mar financial advisors. "Go for some counseling to determine which direction you want to take yourself in, perhaps sign up for a few online courses, update your resume and upload it to the social media sites available for professionals, such as LinkedIn. If you're bored of your current job, check out the job market for new, exciting opportunities or even think about starting your own business."

Divorces may represent the end in many respects, but they are also the chance for a new beginning.

Del Mar LPL Financial Advisors Explain The 8 Possible Financial Consequences Of Divorce And How To Avoid Them, PART 3

This four-part article series explains the many financial pitfalls associated with divorce and how women can best avoid them through careful research and the right planning.

Welcome to the third installment of this four-part article series on the possible financial consequences of divorce and what women can do to avoid or at least offset them.

Divorce has a plethora of financial consequences and most of them are bad, especially for women who are said to suffer a 27% drop in their standard of living, while men experience a 10% increase. The reason?

Many women suspend or don't prioritize their careers so that they may care for the family and the home. And so the household relies predominantly on the income provided by the husband. When disaster happens, the fight for financial survival becomes a terrifying prospect for women, especially if she becomes the primary caretaker of the children.

Thankfully, with the right planning and research – and with the help of a good Del Mar financial planner - the stormy seas of divorce aftermath can be tamed to make for smooth financial sailing, so let's continue looking at more, important advice.

Consequences of Divorce # 5: Ignoring Tax Consequences

Every possible financial decision involved in divorce comes with some kind of tax consequence that can actually see you walking away with substantially less than your spouse! Is walking away with a lump sum better than taking monthly alimony? Which asset would you rather have? Is it better to keep the house and live in it, or sell it and split it 50/50? Who pays for what?

What You Should Do

You and your spouse should sit down with an accountant and make all the necessary calculations, making sure that the tax consequences are taken well into account. You may want to apply for an indemnification clause to protect yourself should the IRS come a-knocking. There's always a risk that a past joint tax return wasn't entirely correct and you don't want to be the one who pays the penalty.

Just remember this: Tax can be exceptionally tricky to work out, so unless you have an accounting diploma behind your name, you may want to get a professional involved in helping you and your ex figure this picture out.

Consequences of Divorce # 6: Confusing Money and Emotion

Under ordinary circumstances, it can be really difficult to prevent your emotions from clouding your judgment. Now try to do the same with all the changes and emotional turmoil associated with divorce!

It can be too easy to allow your emotions to drive or change your financial decisions. It can also be tempting to confuse your lawyer with a friend or therapist. A friend doesn't charge you a few hundred dollars an hour to listen to your woes, so keep your appointments short, yet thorough. Make a list of the points you wish to cover and avoid any emotional triggers that might have you breaking down. This way you'll get the most out of your sessions with your Del Mar asset management firm and lawyer and maximize what you get out of every dollar spent on professional advice.

What You Should Do

• Be businesslike in your financial decisions
• Don't allow feelings of anger or guilt motivate you
• Use your friends, family and therapist for emotional support
• Focus on your long-term wealth and wellness
• Try to keep things as professional and amicable as possible. Only lawyers benefit from nasty divorces

Stay Tuned for Part 4

Not fighting for what's rightfully yours and mixing money and emotions… To read some final possible financial consequences of divorce for women, stay tuned for the fourth installment of this four-part article series.

Solana Beach Financial Advisors: The 8 Possible Financial Consequences Of Divorce and How To Avoid Them, PART 2

This four-part article series explains the many financial pitfalls associated with divorce and how women can best avoid them through careful research and the right planning.

Welcome to the second installment of this four-part article series on the possible consequences of divorce and what women can do to avoid or at least offset them.

In our previous article post, Part 1, we explained the fact that divorce can often see even the more affluent of women becoming financially unsecure, which has a lot to do with the cost of divorce itself as well as simply being ill-prepared! This emphasizes the importance of doing thorough research into the assets both you and your (ex) husband have. This might require some digging and even the use of a forensic accountant, but you and your spouse have been a team until now and as such, everything should be fairly divided.

Let’s take a look at some more advice provided by Solana Beach financial planners:

Consequences of Divorce # 3: Losing or Not Having Your Important Documents

Before you even raise the subject of divorce, or soon after it has been raised (since these conversations are seldom planned and executed smoothly), you should shuffle through all of your household files and accumulate crisp copies of the following financial documents and records:

• Loan applications and documents,
• Tax returns,
• Trusts,
• Insurance policies and comprehensive inventories,
• Wills,
• Financial, brokerage and credit card statements,
• All banking information,
• Property deeds,
• Car registration papers,
• Copies of your spouse’s business assets (if you can get your hands on them),
• Any documents that can prove your ownership of assets and/or material items, gifts and inheritance from family.

Having up-to-date copies of all of the above-mentioned financial and legal documents will not only help your lawyer put together a watertight case far quicker (thus saving you money on legal fees), you will also be spared much hassle and frustration.

“No matter how desperately you might wish to exit a marriage, get your affairs in order first,” suggest Solana Beach financial advisors.

Consequences of Divorce # 4: Missed and Forfeited Assets

In most cases, half of everything you and your spouse have accumulated is yours, so be sure not to ignore, overlook or simply forfeit any assets! You may not want certain things, but their value can be traded for something you do want; half of which may belong to your spouse.

What You Should Do

Make a detailed inventory list of all the items owned by you and your husband, from the luxury yacht to the Jet Ski and bank accounts to safe deposit boxes. Review all of your insurance policies, investments and retirement plans as well as those pay stubs with the help of a Solana Beach financial planner. Even the cost of your spouse’s education, which you may have helped put him through, can possibly be claimed for. Expensive business equipment and hobbies should also be investigated. You may want to hire the services of a forensic accountant. All’s fair in love and war and in order to get what’s owed to you (50%) you need to be smart and you need to be thorough.

Stay Tuned for Part 3

Ignoring tax consequences and mixing money and your emotions… To read some more possible financial consequences of divorce for women, stay tuned for the third installment of this four-part article series.

Investment Advisor News, Del Mar: The 8 Possible Financial Consequences Of Divorce And How To Avoid Them, PART 1

This four-part article series explains the many financial pitfalls associated with divorce and how women can best avoid them through careful research and the right planning.

“50% of first, 67% of second and 74% of third marriages end in divorce,” says Jennifer Baker of the Forest Institute of Professional Psychology in Springfield, Missouri.

-    Source: http://www.divorcepad.com/rate/

These may seem like terrible and depressing statistics, but they highlight just how important it is for women to make financial provisions in the event that their marriage too becomes another statistic. So, if you find yourself in a position where you are considering divorce, it is crucial that you begin making plans and doing the necessary research to equip yourself to face the impending and potentially rough financial times.

In this four-part article series, I explore, with the help of some investment advisors in Del Mar, the 8 possible financial consequences of divorce and how you can avoid them with the right planning.

Consequences of Divorce # 1: Empty Pockets

If you lamented the cost of living before, things are about to get a whole lot more expensive!

“You’ll likely find yourself dipping into your savings to foot the cost of your legal bills,” warn Del Mar financial advisors.

Then there’s the cost of moving out, getting a new place, seeing a psychologist and that exorbitant “accidental” retail therapy session at Oscar de la Renta. Divorce is not only a change of marital status; it’s a whole life revolution and money is needed to facilitate this change.

What You Should Do

If you foresee your marriage ending in divorce – whether it’s what you want or don’t want – do NOT sit about moping. You need to start squirreling away funds to sustain you through the expensive aftermath.

Consequences of Divorce # 2: Being Ill Prepared

Ending a relationship with a spouse is one thing: a single conversation that can take place in as little as an hour. It’s what happens afterwards that can take months and even years to sort out. This is why careful planning is so crucially important if it looks as though your marriage is going to end in divorce. Before you drop the figurative guillotine on your husband’s head, do some thorough research. Chat with a lawyer and your Del Mar financial and investment advisor about what you need to do and what you need to make provisions for.

Timing is also important. If your husband is due for a promotion, bonus, inheritance or raise, you may want to wait until he receives it so that you too can benefit. If you’re a few months away from the 10-year mark, patience and social security can reward you with your partner’s earning record. This may sound unscrupulous, but just as he has given up his time and energy earning that income, raise or bonus so too have you.

Whether you spent your time raising your family, tending to the house, in the office or all three, you are a team and all of your assets should be shared accordingly.

What You Should Do

Take the time to complete the things that need to be done before the financial and emotional turmoil hits at full force. While you still have access to joint funds, take the car in for a full service; perhaps get some new tires. Buy the kids the clothes they need and take them to the dentist. Book yourself a few appointments with a therapist, your financial advisor and perhaps a lawyer. This kind of planning can save you a lot of money and a lot of hassle post-divorce.

Stay Tuned for Part 2

Not sorting out your documents and overlooking assets… To read more about the possible financial consequences of divorce for women, stay tuned for the second installment of this four-part article series.

Financial Advisors in Rancho Santa Fe Explain Why the Right Financial Planning Is So Important for Women, PART 3

This three-part article series takes a look at the special financial needs of women and just why it is so important for us to make provision for our family and ourselves through smart planning and investments.

Welcome to the final installment of this three-part article series on women and finances. It has been the aim of this series to explain just why it is so important for women to be especially rigorous about making lifelong financial plans and investments.

In Part 1 and Part 2, I spoke to some financial advisors in Rancho Santa Fe who explained that it’s a consequence of the additional pressures women face as a gender that may require them to be especially careful with regards to financial planning, lest they are left without the security and stability they need to look after their families and themselves. These pressures include:

1.    Women tend to outlive men,

2.    Women tend to earn a lower lifelong income than men,

3.    More and more women are becoming business owners, and

4.    Women are almost always chosen as custodial parents.

So, typically speaking, not only do women need to survive for longer with less money, but also they are almost always responsible for the wellbeing of more than just one person. Let’s take a look at two more important reasons women should be financially careful and crafty and make a solid plan that will see them through.

5.    Women Are Working Professionals

According to San Diego financial advisors, more than half of the working population (57.5%) in professional occupations is female: think lawyers, doctors and real estate agents. These are typically financially empowered roles and with financial power comes much responsibility. It’s one thing to earn a decent amount of money, but if it isn’t managed carefully, you won’t enjoy much financial security should the unforeseen happen, for example: divorce, the death of a spouse or litigation. Asset protection planning can prove especially useful for female professionals, so speak to your financial advisor in Rancho Santa Fe.

6.    Women Have Wealth!

It’s true! Women may earn less than men over a lifetime on average, but three quarters of America’s financial wealth is owned by women, which holds an approximate value of $14 trillion worth of assets. Because of this, is it essential for women to get the right tax planning and investment advice. This wealth needs to be managed carefully throughout your lifetime and it needs to be distributed after you’re gone so that you can ensure the financial security and wellbeing of the family you leave behind.

Women are also compassionate beings. If you’re in a position of wealth, you might want to consider getting involved in some kind of charity by making monthly donations. It’s tax deductible!

In Conclusion

Women are special in an infinite number of ways and it’s because of their unique circumstances – emotional, personal, professional and financial – that it’s so important for them to become educated about finances. Whether you’re a powerful business executive, a respected medical specialist, a waitress or a stay-at-home mom, financial planning stands to benefit you and our children enormously. Consult with an experienced San Diego financial advisor about your estate, investments and finances so that you can plan the most secure, stable and successful future for yourself.

The Importance of Financial Planning For Rancho Santa Fe's Women Residents, PART 2

This three-part article series takes a look at the special financial needs of women and just why it is so important for them to make provision for their family and themselves through smart planning and investments.

Welcome to the second installment of this three-part article series on the importance of women making smart lifelong financial plans, provisions and investments. In our previous article installment - Part 1 - I talked about what some San Diego investment advisors had to say, which was that this can be the case because women tend to outlive men and earn a lower life long income. This means that women typically face the need to survive for longer with less money.

Let's take a look at the next two reasons that Rancho Santa Fe's female residents, from stay-at-home moms to affluent business executives, should be smart about their financial planning, irrespective of relationship status and income bracket.

3. Women Are Also Business Owners

Women are increasingly overstepping all historic convention and becoming entrepreneurs, ruthless executives and incredibly successful business owners, which is fantastic to see. Between the years of 2002 and 2007 alone, the percentage of female business owners in the United States increased by a staggering 20.1%. And so, in addition to the typical responsibilities of many women, which include raising a family, they are also managing and running their own enterprises.

To ensure professional and personal success, the right asset management and planning is essential as this will help to protect the long term financial security and success of their businesses and their families. You absolutely can't do it all on your own and so employing the services of experienced financial planners is really advised for San Diego residents: both men and women.

4. Women Tend To Be Chosen As Custodial Parents

When divorce happens, as it so frequently does, the children go home with the mother 84% of the time. And so, if you are a mother, whether you continue to work or have quit your job to provide your kids with full-time care, you need to have some kind of financial plan in place. A savings account, some carefully managed investments and accumulated assets can provide you with the financial pillow you and your family might need in the event of divorce or some other unforeseen circumstances.

You should also sit down and think about what instructions you would like to leave behind should tragedy befall you or your husband. How would you like your estate managed and divided between your children? If they aren't of age yet, who will look after their inheritance until they are old enough? What can you do to ensure that your children have access to everything they will need to become successful, even if you or their father isn't in the picture anymore?

If you don't know the answers to these questions, it is essential that you start thinking about it and maybe even speak to your investment advisor about it. Accidents are called accidents for a reason.

Stay Tuned for Part 3

To read more reasons why wealth managers and financial planners in Rancho Santa Fe urge women to make smarter financial plans for life, stay tuned for the final installment of this three-part article series.

Why the Right Financial Planning is so Important for Women, PART 1

This three-part article series takes a look at the special financial needs of women and just why it is so important for them to make provision for their family and themselves through smart planning and investments.

To say that women have special financial needs and can benefit enormously from careful planning is no sexist statement. There are many reasons that it is absolutely essential for us, frequently more so than for men, to make smart financial plans, provisions and investments.

In this three-part article series, I will be presenting what a panel of experienced Rancho Santa Fe asset management professionals had to say about this. So, if you’ve convinced yourself that you don’t need an estate plan because your husband is the one who takes care of all your family’s financial affairs, or you don’t need a solid financial plan because you’re a high flying business executive who makes a killing each year, think again!

It’s time to sit down and start making those plans – irrespective of your relationship status or income bracket – because you never know when tragedy might leave you and/or your family without financial security.

1. Women Tend To Outlive Men

According to statistics, the average Rancho Santa Fe female lives approximately five years longer than the average male. This means that women need to feed, clothe and support themselves for five extra years and presumably non-working years if they are retired.

If they are married, it also means that women are likely to outlive their husband and so may come into quite a bit of wealth when he passes away. This is when the right financial planning becomes so important, because it’s now up to them to make the last arrangements with regards to their estate and the distribution of wealth amongst their heirs.

Timely estate and financial planning well before a spouse passes can save you a lot of trouble and a lot of financial strife, according to Rancho Santa Fe asset management professionals. With a solid plan in place, the proceedings can commence and run unhindered, giving you and/or your heirs faster and less complicated access to funds.

2. Women Tend To Be Lower Income Earners

It’s a terrible shame, yet in spite of how far we’ve come as far as gender equality is concerned, women still earn approximately 20% less than men. In 2010, for every dollar men earned, women earned 81.2 cents. While this has absolutely nothing to do with capability, many business firms still prefer to hire men because they tend to be more career-focused and don’t get side-tracked by having families.

Women on the other hand, not only tend to earn less, they also work less than men and this is almost always because they need to take time off to have children and raise a family. With a lower life-long income, Rancho Santa Fe’s female residents can find it harder to save than men, and yet it is incredibly important considering they are likely to outlive their husbands. A good investment plan can help you build your financial nest egg.

Stay Tuned for Part 2

To read more reasons why wealth managers and financial advisors in San Diego urge women to make smarter financial plans for life, stay tuned for the second installment of this three-part article series.