Rebuilding Financial Confidence After Divorce

Divorce can shake the foundation of your life—emotionally and financially. For individuals aged 50 and older, it often means starting over at a time when many expected to feel secure. But while the transition can be difficult, it also offers a chance to rebuild financial confidence—and help lay the groundwork for a renewed future.

The Emotional and Financial Toll

Even amicable divorces can carry a heavy price. Adjusting to a single income, dividing assets, and redefining retirement goals can feel overwhelming. Add the emotional stress, and it’s no wonder many people feel stuck or uncertain.

Rebuilding financial confidence post-divorce means more than getting paperwork in order. It’s about reclaiming control over your financial life—and finding clarity in your new reality.

Why Financial Confidence Matters

When you feel in control of your finances, you’re more likely to make clear decisions, protect your future, and care for your family. Confidence is the foundation for everything from day-to-day spending to long-term legacy planning.

At Savant Wealth Management, we believe that clarity can help create confidence. And with caring and thoughtful guidance, you can move forward with purpose—even after divorce.

How a Divorce Financial Advisor Can Help

Navigating a financial reset on your own can be daunting. That’s where a trusted advisor can make a difference.

Savant Wealth Management offers comprehensive divorce financial planning tailored for post-divorce scenarios. We believe having “Wise Counsel by your side” can help you assess your new financial picture, develop a strategy, and move forward with clarity.

*Please Note: Limitations: The above is a hypothetical scenario—not involving an actual Savant client. It illustrates the hypothetical experience of a fictitious client based on a scenario that an actual client might experience. The scenario is designed to help illustrate how Savant might provide services to similarly situated clients. Keeping in mind that no two clients, situations, or experiences are exactly alike, the above should not be construed as an endorsement of Savant by any of its past or current clients, nor any assurance that Savant may be able to help any client achieve the same satisfactory results. To the contrary, there can be no assurance that a client or prospective client will experience a certain level of results or satisfaction if Savant is engaged, or continues to be engaged, to provide investment advisory services. A copy of our current written disclosure Brochure and Form CRS discussing our advisory services and fees continues to remain available upon request or at www.savantwealth.com.

First Steps to Regaining Financial Stability

The time immediately following a divorce can feel as if you’re standing at a financial crossroad. One key to moving on is clarity: knowing exactly where you stand today so you can make informed, confident decisions for tomorrow. Here are three steps you can take right away:

1. Assess Your Financial Landscape

Take a comprehensive inventory of your financial life.

• Assets: Bank accounts, business interests, investment portfolios, real estate, and retirement accounts.
• Expenses: Discretionary spending, healthcare, legal bills, and monthly bills. 
• Income: Alimony, annuities, investment income, pension, and Social Security.
• Liabilities: Business loans, credit cards, mortgages, and personal loans.

Taking this step might uncover surprises—unclaimed assets, hidden inefficiencies, or overlooked obligations. Fully understanding your current financial situation can help you build the foundation for your future.

2. Create a New Budget Tailored to Your Life Today

Whether you like it or not, divorce changes your financial reality. Your new budget needs to reflect the changes to your income, expenses, and goals. Pay attention to your true cost of living, which includes your housing, insurance, and healthcare. Also, make sure your lifestyle choices align with your new goals.

3. Rebuild—or Reassess—Your Emergency Fund and Savings

A healthy emergency fund is crucial—especially after such a significant life change. It’s best to maintain 6 to 12 months of essential expenses in a highly liquid account. If the divorce process depleted these funds, make it a top priority to replenish them. Consider reevaluating your investment strategy, making sure you’re optimizing tax efficiency and titling assets correctly.

Managing Joint Debts and Assets

One of the most critical financial tasks post-divorce involves untangling joint accounts. If you’re in a community property state, know that assets and debts acquired during your marriage are typically considered jointly owned and divided equally. Determining ownership of these shared accounts can be complex and requires careful coordination to protect both parties’ long-term interests.

• Divide mortgages, credit cards, and business obligations. Debt management is vital. If both names remain on a loan, one party’s missed payment can affect the other’s credit. Consider refinancing or paying the debt off entirely to help minimize future risk.
• Review and update beneficiary designations. Retirement accounts, insurance policies, and trusts typically list former spouses as primary beneficiaries. Failing to make timely changes can lead to unintended consequences, especially if anyone disputes an estate plan.
• Decide whether to sell or keep real property. A family home or vacation property presents emotional and financial decisions. Keeping a home might feel like a source of stability, but it can also be a financial burden without adequate income or liquidity. Selling and dividing the proceeds or negotiating a buyout can give a cleaner break and offer more flexibility moving forward.

We believe an experienced financial advisor can play a vital role in helping you manage joint debts after divorce. Your team of professionals can help you avoid costly missteps and move forward with preparation, knowing that your restructured financial plan continues with clarity and care.

Planning for Your Future

Divorce may close one chapter, but it also creates an opportunity to reevaluate your retirement strategy and redefine your long-term financial goals. We help clients with the following:

• Recalculate retirement income needs. Factors such as healthcare coverage, housing changes, and lifestyle expectations often shift post-divorce. Updated projections can help determine whether your pensions, current savings, and Social Security benefits will give you the income you need—and for how long.
• Adjust investment allocations based on new risk tolerance. A portfolio once managed for long-term growth may need adjusting to emphasize stability, capital preservation, and income generation. We help you reassess your asset allocation and make smart adjustments to reflect your personal comfort level.
• Implement tax-smart withdrawal and gifting strategies. Smart tax planning helps extend the life of your wealth and supports both personal and philanthropic goals by deciding the order of withdrawals across taxable and tax-advantaged accounts and implementing charitable gifting or Roth conversion strategies.

You may be navigating unfamiliar financial territory but know that you’re not alone. With a trusted financial advisory team, we believe you can define your next chapter with clarity and purpose after divorce.

Navigating the Emotional Side of Finances

Divorce can bring a wave of emotions, and those emotions can cloud judgment and complicate financial decisions. It’s natural.

Recognizing this, Savant takes a holistic approach to financial well-being, blending technical expertise with emotional awareness. We know that post-divorce financial planning doesn’t just involve balance sheets—it’s about rebuilding confidence, redefining purpose, and striving to help create peace of mind.

Our advisory process includes listening to what matters most—family, lifestyle, legacy, and values—and aligning those priorities with a customized financial strategy. Our Wise Counsel approach means you don’t have to navigate these decisions alone. Our goal is to help you move forward with clarity, strength, and a renewed sense of control.

Caring for Your Children’s Future

After a divorce, one of the most important priorities involves your children’s financial security—both now and in the years to come. It requires thoughtful planning, clear agreements, and a long-term strategy that reflects your values. 

Knowing the terms and long-term implications of child support agreements is essential. While state guidelines often give a baseline, you may need to go further, particularly when it comes to who will cover insurance, travel, and future gifting.

Education planning is a key component of post-divorce financial strategy. Whether your goal is to fund an Ivy League education or provide graduate school support, structured savings plans like irrevocable trusts or 529 accounts can help ensure that earmarked funds go directly to your children.

At Savant, we offer comprehensive support for families navigating complex transitions. We help clients structure and manage education funding, create multi-generational wealth plans, and coordinate legal and tax professionals to help create consistency across financial documents.

• Personalized financial planning: No two divorces are alike, and neither are financial outcomes. We tailor every strategy to your unique post-divorce needs.
• Expertise in divorce scenarios: From equitable asset division and tax-efficient divorce settlements to untangling shared business interests or family trusts, we are committed to providing strategic guidance to help protect your long-term interests.
• Comprehensive services: We offer a suite of wealth management services, including investment management aligned with updated risk tolerance, tax-aware withdrawal strategies, retirement income planning, estate planning revisions, and multigenerational planning. We’ve got you covered.
• Wise Counsel by your side: At Savant, we believe in delivering more than answers—we provide Wise Counsel by your side. During life’s most difficult transitions, you deserve a partner who listens carefully, plans thoughtfully, and supports you with clarity and compassion.

Ready to Rebuild?

Divorce is not just a legal separation—it’s a financial turning point. Once you receive your divorce decree, know that divorce is not the end of your financial story. It’s a turning point. 

At Savant Wealth Management, we understand how deeply this transition can impact every aspect of your financial life. That’s why we offer more than just investment advice.

With Certified Divorce Financial Analyst® professionals on staff, our goal is to help you move forward with clarity, confidence, and purpose. Let us help build your next chapter—together.