Dividing responsibilities can be easier than splitting every bill down the middle. Don't' be deterred by the word divorce. Yes, we are programmed for the meaning to have a bad connotation. However, Financial divorce can lead to a blissful marriage. When two mature, healthy individuals have been on their own for many years it can become difficult to merge everything. At times this is difficult for major corporations. That's why there's a team dedicated for this transition. Therefore, each party can be responsible for certain bills and still feel a sense of Independence.
Make concrete retirement savings
Again, it is extremely important to discuss your retirement plans with your partner. Reveal your desired retired age and where you would like to live. You should also get a routine financial check up together to make sure you have enough income for retirement saved. To live in a current financial divorce doesn't constitute the negligence of future plans. Both parties should be on the same page for retirement.
Declaring a beneficiary and durable power of attorney
To live in marital bliss doesn't mean to live in ignorant bliss. Have all your ducks in order. The worse thing you want is for your spouse's family to intervene and dictate what should be done with your partner. It's extremely important you continue to speak on your partner's behalf.
There are pitfalls to a financial divorce. Remember to divide the responsibilities not neglect the concerns.
Be inspired,
Bahiyah Shabazz
Bahiyah Shabazz
1 comment:
Thanks for stopping by and commenting on my blog. I see you are also a fan of Mrs. Cooper. You have some great information on here! See you around the blogosphere!
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