INJURY-FREE RUNNING THE BIGGEST FINANCIAL PITFALLS TO WATCH FOR DURING DIVORCE Divorce is already an emotionally taxing experience, but when you add in the financial complications, it can quickly become ALLOWING EMOTIONS TO DRIVE FINANCIAL DECISIONS
OVERLOOKING HIDDEN DEBTS Many couples share credit cards, loans, and other financial obligations. If you’re not careful, you could end up responsible for debts you didn’t even know existed. Before finalizing the divorce, pull a copy of your credit report to make sure you’re aware of all joint debts. NOT UPDATING BENEFICIARIES AND ESTATE PLANS One of the most overlooked financial mistakes is forgetting to update beneficiaries on life insurance policies, retirement accounts, and estate planning documents. If you don’t make changes, your ex-spouse could still be listed as the primary beneficiary. FAILING TO PLAN FOR THE FUTURE Divorce can feel like a financial setback, but it’s also a chance to reset and create a new plan for the future. Work with a financial professional to develop a post-divorce budget, reassess your retirement goals, and make sure you’re on track for financial stability.
Divorce can be messy, and emotions often run high. Many people make costly financial decisions simply to “win” or out of spite. Before making any big moves, take a step back and ask yourself: Does this decision make sense for my long-term financial health? Working with a financial advisor and/or a divorce attorney from a firm like ours can help you separate emotions from logic. NOT UNDERSTANDING THE TRUE VALUE OF ASSETS All assets are not created equal. A $50,000 savings account is very different from a $50,000 retirement account when you factor in taxes and withdrawal penalties. Along the same lines, keeping the marital home might seem like a win, but it could become a problem if you can’t afford the mortgage, maintenance, and taxes on a single income. It’s important to fully understand each asset’s long-term costs and benefits before making agreements.
overwhelming. While it’s easy to get caught up in the personal side of things, making smart financial decisions during this time is important to protect your future. Let’s take a look at some of the most common financial mistakes people make during divorce — and how to avoid them.
Drinking Done Differently Riding the Alkaline Water Wave
Ready to experience one of the hottest — and wettest — celebrity health trends hitting Hollywood and beyond? If you admire Jennifer Aniston’s radiant skin or Tom Brady’s lengthy football career, you may want to try alkaline water. Endorsed by the aforementioned actor and athlete and a growing list of other notables — including model Miranda Kerr and singer Beyoncé — alkaline water is produced through electrolysis to have a higher pH than standard bottled water. Many believe it possesses properties that can improve a person’s complexion, fight heart disease, and aid in cancer prevention, among many other benefits. SCIENCE-DRIVEN SIPS In addition to providing the apparent health benefits of traditional water, many say
alkaline water offers drinkers a gateway to A-list health. Enthusiasts claim the product’s higher pH improves metabolism and energy levels, detoxifies the body, promotes glowing skin, and reduces the likelihood of bone loss by neutralizing acid in the bloodstream and hydrating the body more efficiently. THE PRICE OF POURED HEALTH While alkaline water advocates are quick to praise the product, a higher pH comes with a higher price tag for consumers. Depending on your brand of choice, one gallon of premium alkaline water may cost more than $30! Because it is a human-made product and not something that simply flows from our taps, alkaline water requires processes including mineralization, filtration, ionization, and quality assurance before it reaches supermarket shelves. These expenses and the costs of good old-fashioned
marketing have contributed significantly to the sticker shock frugal shoppers feel.
HYDRATION AND HYPE So, is alkaline water worth it? While encouraging people to drink more water is never bad, the jury is still out on the ultimate benefits of this pricey libation. Although the Mayo Clinic acknowledges that some studies have shown a link between alkaline water and bone health, more extensive research is needed to prove all other claims, including cancer-fighting properties. As with any trendy health fad, receiving sound advice from your physician may spare your body and bank account from unnecessary habits.
2
Made with FlippingBook Ebook Creator