Financial Planning Tips for the Newly Divorced

No matter how carefully you’ve planned your finances throughout the years, a divorce can significantly set you back. But don’t fret! We want to guide you through this stressful time of your life and make sure your financial planning gets back on the right track.

  • It’s time to get your life insurance plan figured out. If you previously had your spouse listed, you will want to update your policy accordingly. If you have any children or grandchildren depending on you financially, it is imperative that you update this policy.
  • If the divorce has left you without health insurance, you will need to secure new coverage.
  • You will want to go over the IRA and Social Security options available to you. If you were married for 10 or more years, you may be eligible to claim social security benefits under your ex-spouse’s record for retirement. You can also save for retirement under an Individual Retirement Account, also known as an IRA.

Idaho Insurance understands financial planning at this time can be stressful and exhausting, and that is why we are here to guide you through each step of the process. Contact Idaho Insurance for all of your Caldwell, Idaho life insurance needs.

Posted on: August 11th, 2014 at 4:00am by Idaho Insurance Blogging Team. Filed under: Article Archives
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