There are many changes that occur with divorce, especially in the realm of finances. The assets and income that was once available to a single household is now split, yet the total expenses are typically greater. For those who receive a financial settlement in their divorce, making wise choices on how to best use this money to sustain their lifestyle and future is crucial. One of the choices that should be considered is investing settlement funds, to prepare for the years ahead.
Starting an Investment Portfolio
For many, the lump sum from their divorce settlement may be the largest single payout they will ever receive, accounting for years of accumulated assets and income when they were married. While it may be a relief to have money in the bank, it is important to consider the best ways to make this payment last, to fund your future. You need this financial sum to grow, something that is possible when you create an investment portfolio.
If you are new to investing, it can seem daunting to begin creating your investment portfolio. However, with the help of the right investment manager or financial planner, you can grow your money in order to protect your financial future. Investing your settlement can create long-term income, helping you live a lifestyle that is comfortable and affordable. An investment manager can help you create a diversified portfolio within risk levels that are acceptable for your peace of mind.
The first step is finding an investment manager who can assist you in creating your portfolio. Ask friends, co-workers and family for recommendations – this can often garner a reputable financial advisor you can trust. You may want to get a few names and meet with each, to find the one you feel the most comfortable with – you may be working with this person for many years, so it is important that you feel confident in their abilities. Once you find the right investment manager, you can begin planning for your future and finding the best way to grow your divorce settlement.
At Lake Harriet Law, we work diligently for our clients, to help them receive the best terms in their divorce, including a fair and equitable financial settlement. If you are considering a divorce, contact our team to begin designing a legal strategy to protect your future.
Randall A. Smith – Managing Attorney 612-750-4843
Chinyere Okwulehie – Student Attorney 612-223-8925
Jessica Dulz – Student Attorney 612-223-8925
Addy Scriver – Student Attorney 612-223-8925