In this episode of Think Smart with TMFG, Rob McClelland and Mike Connon unpack the unavoidable financial challenges of divorce. They paint a detailed picture of financial complexities that couples should be aware of at the onset and conclusion of a divorce.
The episode offers a comprehensive probe into how divorce can impact different facets of life, from careers to businesses, and how crucially they tie into the finances of the separating couple. With child support, alimony, and distribution of assets at play, the financial landscape can become intricate.
Rob and Mike also touch on the division and distribution of properties post-divorce and the financial difficulties that can arise, especially for the less-earning party. The final discourse shifts to the sometimes forgotten victims of divorce- the children. The hosts discuss the complex aspects of support arrangements, their longevity, and the pressing need for a fair and clear agreement in child support matters.
With insights into estate planning, insurance, changes in wills and beneficiaries, and the importance of tax implications, this episode dives deep into how divorce impacts finances. And most importantly, it underscores a reliable financial advisor's essential role in navigating the tricky waters of separation and divorce.
Episode 223: All the Financial Mistakes We Have Made Over the Years
Episode 222: Delegation: How It Can Help You Achieve More Out of Life
Episode 221: The Weather Forecast: Predictions and Forecasts in the Financial Markets
Episode 220: Moving Money is Not Saving Money
Episode 219: Investing is Not Gambling
Episode 218: How to Avoid Getting Audited by the CRA
Episode 217: Structured Investments, Stock Picking with ChatGPT and Conflicts of Interest at the Big Banks
Episode 216: How Often Does Factor Investing Work?
Episode 215: The Housing Market and How to Help Your Kids with their First Home
Episode 214: Saving for a University Education is Taking a Hit
Episode 213: AI, is it Good or Bad, and What the Heck is ChatGPT?
Episode 212: The World’s Wealthiest Cities
Episode 211: How to Increase Your Retirement Income
Episode 210: Why Do People Break Up with Their Financial Advisors?
Episode 209: Why You Need An Estate Planning Checklist
Episode 208: Fascinating Study on Investment Returns over 96 Years
Episode 207: How Many Accounts Do You Really Need?
Episode 206: The Need for Speed: Our Modern-Day Obsession with Making Everything Happen Immediately
Episode 205: Economic Tradeoffs Are Having Some Pretty Serious Consequences
Episode 204: Interest Rates Still in the Press - An In-Depth Look at the Markets
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