If you are a seasoned investor, you have no doubt spent years amassing significant wealth.
Now that you are facing divorce, you may feel more than a little uneasy about the outcome of the property division process. What is your biggest concern?
The digital wealth advisor Personal Capital released its latest Affluent Investor Report with some surprising findings. Considering that about $20,000 represents the median retirement savings for people 56 to 61 years of age, the Report revealed unexpected results. The most surprising of these concerned those who own more than $500,000 in investable assets. A financially secure retirement was their biggest worry. Of the survey participants, 51% expressed concern about an as yet unseen force disrupting their financial security while 41% felt a level of anxiety because they have not developed a long-term estate plan.
Based on experience
Most of the survey participants whose investable assets amounted to $500,000 or more have likely experienced adversity. Many no doubt survived the 2000 dot-com period and weathered the housing crisis. They have probably been through a sharp downturn in their level of wealth at least once. They also have watched friends and relatives lose their jobs and struggle to care for their families. Worry about financial security after a divorce is therefore not surprising for these affluent people.
High-asset property division may be a concern to you as you approach divorce. Keep in mind that you deserve to receive your fair share. With the appropriate guidance, you can enter the next chapter of your life with confidence and look forward to a secure financial future.