News & Events

Improved Economy; Worsening Divorce Rate

Bloomberg just recently published “Worsening U.S. Divorce Rate Points to Improving Economy”. As the article states, “While an improving economy may be allowing more divorces, there can be high costs—both emotional and financial—for those involved, especially women.” It also shares that after a breakup, a woman’s per capita household income drops as much as 15 percent.

Many couples have put off divorce because they could not financially afford it: financial independence can be costly; dual housing costs alone is a significant expense, but it can also be emotionally freeing. With housing prices on the rise and portfolios looking better and better, couples are taking this improved economy to go through the process of divorce or “conscious decoupling” if you prefer.

Whether it’s the improving economy that has caused the increase in divorces or the business of divorce that has bolstered the economy, the process is complicated and should be undertaken with the help of a professional team to provide the best outcome. At SK Wealth Management, we strive to help our clients achieve the best possible outcome in the divorce process by providing the knowledge to make informed fiscal decisions about their financial future. We offer a complimentary meeting to assess if our services can benefit you. For more information contact Cheryl Ethier at 401-752-0586 or cdethier@skwealth.com.