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financial house in order

How I Got My Financial House In Order After An Unwanted Divorce

financial house in order

 

Tax time. As I dropped by the post office to get the right postage for the thick packet of homework to send to my accountant, I smiled to myself, confident that I had my financial house in order. It brought back memories of all the effort it took to dig a new foundation years ago, after my divorce.

I no longer get weak-kneed and shaky thinking about those months leading to the divorce. The request for a divorce came as a surprise to me. So busy with family and career that I hadn’t been attending to the finer points of our family finances—that was something my trusted husband did.

Evidently, I wasn’t attending to the marriage either.

Rather, I was full throttle busy but confident that it wouldn’t be long before we would have an opportunity to do a reset as a couple once our last child left for college.  My husband was on another page. When the last child was launched, he would also start his new chapter. And, it didn’t include me.

The shock of divorce rattled me, and I don’t rattle easily. In fact, calm is my middle name. My career track steady and upward for the entirety of our marriage, I was now close to the top of my field, responsible for business lines that were valued at tens of millions of dollars. “On the rise” is what people would tell my husband about me at the rare work event of mine that we attended together.

I wonder now if that message didn’t send alarm bells to him—a signal that we were out of sync. After all, he had married a younger woman still in grad school with no prospects, and as he was older, his career was already launched. Perhaps neither of us took stock of what that would mean later.

Silly me, I thought we were happy and about to enter that golden time in a couple’s marriage when the burden of children is lifted, careers are set, and a second honeymoon is around the corner as empty nesters take the time to find one another again.

Some must find divorce a relief after years of strife, or abuse.

I found it confusing, embarrassing and disorienting. It took me months to feel myself again and to assure myself that the kids were ok—or as ok as they could be with their world shaken. But they had new worlds to explore, going off to college was a happy and understood rite of passage.

Divorce at middle-age is not. Although more “gray” adults are divorcing now, it still hurts me when I see a couple that is celebrating their 40 plus wedding anniversary. Surrounded by children and grand-children, toasting one another with loving looks, sometimes sharing a truth about having weathered a storm or two, but toughing it out. Good for them.

Life is hard. So, when you find someone to hang onto, it is a blessing. When you lose that person, it is difficult, regardless of the circumstances. After the initial shock wore off, and I adjusted to the fact that my husband of twenty years plus didn’t want to be married to me anymore, I wanted to get out of the marriage as quickly as possible. During that period of deep hurt, I realized how little I knew about our finances.

Pulling papers together, going through correspondence, talking to bankers, and finally, my own attorney, I was overwhelmed. I needed help. Someone to take charge of my funds—once I settled out— invest them, and work with me on managing them wisely. I also needed a CPA to help me with tax planning, short and long term.

I was startled by what I didn’t know. 

It’s not like I was a princess who had waited for her prince charming to come along and rescue her. I was a smart woman who had navigated to a high-profile career with a great future ahead of me. But I had not paid attention to the essentials of investing for my own future. Why would I? My future was intertwined with my husband’s, and he was looking out for both of us, right?

I felt powerless and knew I had to take control to conquer that fear. And, I did. But it took years, and a small village, to get me to a place that feels comfortable.

How I Got My Financial House In Order

Fortunately, through the referral from a trusted friend, I found a broker who was indispensable when it came time to receiving my settlement monies and guiding me through the decision making on where to make investments. Another friend referred me to her tax accountant who turned out to be heaven-sent. To this day, she has my back and has recently helped me through the intricacies of college savings for my grandchildren.

As I leave the post office, I realize that my comfort now is due to the fact that I educated myself, took advice from trusted friends, and brick by brick learned to build my financial house on solid ground.

My lesson was learned the hard way. Married couples are partners for financial planning and the tasks should not be delegated to one partner only.  Quarterly meetings to review your financials and make adjustments as needed, with both partners conversant and supportive of the financial plan is the best practice. Things happen, and when they do, the last thing you want is to be distracted about is your financial security.

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