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Well Balanced | Financial Planning, Bucket-Based Investing, Market Perspective, Wealth Management. A passionate and entertaining look at money and investing in and for retirement. For those that enjoy podcasts like Smart Money, On Investing, and BiggerPockets, Well Balanced is worth adding to your feed. Disclosures about our firm and this podcast. Vector Wealth Management is registered as an investment adviser with the Securities Exchange Commission (SEC). Registration as an investment adviser does not constitute an endorsement of the firm by securities regulators nor does it indicate that the adviser has attained a particular level of skill or ability. A copy of Vector’s current written disclosure brochure filed with the SEC discusses among other things, Vector’s business practices, services, and fees, and is available through the SEC’s website at: www.adviserinfo.sec.gov. All content in this podcast is for information purposes. Opinions expressed herein are solely those of Vector Wealth Management, our staff, and guests. Material presented is believed to be from reliable sources, however, we make no representations as to its accuracy or completeness. All information and ideas should be discussed directly and in detail with your financial advisor prior to implementation. This podcast and related content are not intended to render personalized investment advice, nor should it be viewed as an offer to buy or sell, or a solicitation of any offer to buy or sell the securities or strategies discussed. Please note that neither Vector Wealth Management nor any of its agents give legal or tax advice. The firm is not engaged in the practice of law or accounting. Charts, graphs, and returns do not represent the performance of Vector Wealth Management or any of its advisory clients. Returns do not reflect the impact that advisory fees and other expenses would on the results. Different types of investments involve varying degrees of risk, and there can be no assurance that any specific investment or strategy will be suitable or profitable for a client’s portfolio. All investment strategies have the potential for profit or loss. Past performance is not indicative of future performance. Visit vectorwealth.com/regulatory for the firms form CRS and ADV.
Episodes
Friday Sep 06, 2024
Friday Sep 06, 2024
This week's podcast discusses divorce's emotional and financial complexities. It features personal insights from Vector's Scott Rose and expert advice from managing director Sharon Calhoun, a Certified Divorce Financial Analyst (CDFA).
Listen in to gain a deeper understanding of asset division, spousal support, and the importance of building a professional team early in the process. Sharon explains why financial assets like IRAs and brokerage accounts should be treated differently in settlements. Scott and Sharon tackle financial planning topics that should be considered before signing a divorce agreement.
Whether you're considering divorce, in the midst of one, or know someone who is, this podcast is for you. This episode will help you think about financial planning through the frame of this not-uncommon life transition.
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Visit our divorce resource page (vectorwealth.com/divorce) for more information about financial planning before, during, and after a divorce.
Episode Chapters and Discussion Start Times:
1. Introduction to Divorce and Financial Planning
• Scott introduces Sharon and explains the focus of the discussion: divorce, its emotional toll, and financial considerations.
• 00:02
2. Understanding the Role of a Certified Divorce Financial Analyst (CDFA)
• Sharon explains the importance of the CDFA designation and the role of professionals in divorce financial planning.
• 01:30
3. The Emotional Impact of Divorce
• Sharon highlights the emotional challenges of divorce and the importance of self-care during this transition.
• 02:08
4. Scott's Personal Divorce Journey
• Scott shares his experience going through a collaborative divorce after 26 years of marriage, offering personal insights into the process.
• 03:43
5. Managing Emotional Ups and Downs
• Sharon emphasizes the importance of allowing yourself to feel a range of emotions during a divorce and stresses the need for self-care during the process.
• 06:07
6. Asset Division and Financial Complexity
• Sharon explains how assets are divided during divorce, with attention to tax implications and long-term planning.
• 07:16
7. The Critical Differences in Asset Types
• Sharon explains how different types of assets—such as IRAs and brokerage accounts—can impact financial outcomes in divorce settlements due to tax implications.
• 09:22
8. Gathering Financial Documents and Building a Team
• Sharon and Scott emphasize the need for organizing financial records and assembling a team of professionals early in the divorce process.
• 12:04
9. Addressing Spousal and Child Support
• The discussion turns to the complexities of spousal and child support, including earning potential and state laws.
• 21:29
10. Mediation and Collaborative Approaches to Divorce
• Sharon and Scott explore alternatives to litigation, such as mediation, and how collaboration may make the process simpler.
• 25:00
11. Wrapping Up: Support and Next Steps with Vector
• Scott and Sharon discuss how Vector Wealth's team can provide emotional and financial planning support during the divorce process and explain how clients and prospective clients can get started with a consultation.
• 27:21
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