Yes, you read that headline correctly. According to a research project by a financial consulting firm called the Spectrem Group, 62 percent of all high-income divorced women say that they were better off financially after divorce. These people were all making an average of $1 million during their divorce, but their profits spiked when their spouse was out of the picture.
Financial advisors say this is in part because when spouses split, they are given full control of their own financial affairs. Without the bickering and arguing they are able to make wiser investments and eventually make more money than before. The Pew Research Center reports that 20 percent of all women see income gains of more than 25 percent after they split.
With men it is often a similar issue. When they are away from their former wife, there are times that they can turn their business into a moneymaker that it never was before. On the other hand, divorce isn’t a get-rich-quick scheme, and a lot of people don’t see their finances grow when they get a divorce. The average divorcee’s income may even drop by more than one-fifth following a divorce and remain low in the years following the split.
If you are paying out spousal support or child support to your family post-divorce, you will see less of your income. As well, the costs of court fees associated with divorce can cause a bank account to dwindle. Sometime you may have to split property with your spouse, which causes even more loss. If you need help with your divorce agreement, and want to lose as little money as possible in the split, then you want to hire an aggressive divorce lawyer who can fight for you in court. Talk to someone at the Law Offices of Richard K. Isles today for more information!