Financial moves for the recently divorced

If you’ve recently finalized a divorce, you’re likely facing some real challenges.
   But you can at least help yourself by making the right financial moves.
   For starters, now is the time to open your own checking, savings, and credit accounts if you don’t already have them.
   Next, think about updating your budget, as your income and expenses have likely changed.
   Also, ensure you have adequate emergency savings in place.
   Then consider your IRA and 401(k). If you weren’t putting as much as you could afford into these accounts before, now may be the time to start.
   And, although it may be years away, think about Social Security.
   If you were married at least 10 years and you remain unmarried, you might be eligible for spousal benefits that could exceed your own.
   Finally, contact your legal advisor to change your will, living trust, or other important documents.
   It can feel like a long road to stability after a divorce – but by taking the appropriate steps, you may be able to make the trip a little less bumpy.
   This article was written by Edward Jones for use by your local Edward Jones Financial Advisor John Dickerson. Member SIPC.    

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