Divorce is more than just the beginning of a new chapter; it’s the start of a new financial journey. Navigating this transition involves careful reallocation of joint assets and crafting investment, saving, and spending plans that align with your evolving goals.
Post-divorce, your financial goals undergo a profound transformation as what once was a shared vision is now your own path, necessitating a fresh look at your investment strategy. This is the time to define your new financial objectives, be it securing a comfortable retirement, funding education, or ensuring lifestyle sustainability. The key to financial success lies in aligning your investment decisions with these redefined goals.
Why a Post-Divorce Portfolio Should Look Different
Diversification remains a cornerstone of any robust investment strategy, more so in the wake of divorce. A well-balanced portfolio across stocks, bonds, and other asset classes helps mitigate risks and leverage opportunities across market cycles. Additionally, consider the impact of divorce on your tax situation, especially when discussing asset division and alimony.
Empowering Your Financial Future
Even if you are divorced, you don’t need to make financial decisions alone: enlist professionals to guide you. This is particularly important if you were the weaker financial partner in your marriage. As you begin your new life, now is the time to increase your financial responsibility and knowledge. Engaging with financial professionals who specialize in cross-border investments and are familiar with the nuances of managing U.S. portfolios from abroad can provide valuable guidance and peace of mind.
Leveraging Financial Technology
In the wake of divorce, embracing financial technology can streamline your investment strategy and budgeting efforts. Tools and platforms offering real-time insights into your investments and spending can be invaluable, especially for managing cross-border portfolios. These digital resources not only simplify financial planning but also empower you with the data needed to make informed decisions, ensuring your financial strategy is robust and tailored to your new goals.
Charting a Course to Financial Independence
If you, or someone you know, is in the middle of a divorce, or needs help managing U.S. investments from Israel, assistance is within reach. To see how we can best assist you, contact us at (02) 624-2788.
Douglas Goldstein, CFP®️ is the director of Profile Investment Services, Ltd. www.Profile-Financial.com He is a licensed financial professional both in the U.S. and Israel. Call (02) 624-2788 for a consultation on how to set up your American assets to meet your financial goals. Securities offered through Portfolio Resources Group, Inc. Member FINRA, SIPC, MSRB, FSI. The opinions expressed are those of the author and not those of Portfolio Resources Group, Inc. or its affiliates. Neither PRG nor its affiliates give tax or legal advice.
Published May 21, 2024.