If your parents are getting divorced, who do you think will be more likely to pay closer attention to financial matters going forward, your mother or your father?
A group of CPA financial advisers point to mom.
Although that prognostication can be a bit iffy in a specific case or when confined to a small sample size, of course, the aforementioned wealth managers say that, in the aggregate, evidence firmly points to women as being more money focused than men in their post-divorce financial thinking and decision making.
Unquestionably, every divorced individual in Arkansas and across the country — irrespective of gender — needs to be prudent and proactive about money matters in the wake of divorce, with that especially being true of relatively older people.
A recent publication chronicling some sex-based differences in post-divorce financing planning underscores that point, noting that, “Three-quarters of retirement age divorced people need to have a better understanding of how to manage their finances.”
Having stated that, though, Accounting Today notes that, generally speaking, women are performing better than men when it comes to comprehending and soundly responding to money challenges in the wake of dissolution.
In chronicling the results recently released from a survey authored by the American Institute of CPAs, Accounting Today notes that divorced women “are much more likely to exhibit positive financial behaviors after a divorce” than are their male counterparts.
And that extends to things like training for a job, beefing up retirement savings, guarding against frivolous spending and reaching out for financial guidance.
Of course, both sexes — and especially older divorcing parties — need to proactively embrace post-divorce financial realities and try to meaningfully adjust them when that is necessary.
A proven divorce attorney will ensure in every case that a divorce client timely considers financial challenges and opportunities and crafts strategies geared toward obtaining optimal outcomes in such matters.