Navigating Your Financial Mindset After Divorce

In this episode of How to Split a Toaster, Seth and Pete dive into the psychological impact of divorce on financial decision making. They're joined by certified financial planner Ben Hockema, who shares his insights on helping individuals rebuild their lives and relationship with money post-divorce.

Seth, Pete, and Ben explore how divorce can drastically change one's financial psychology, often leading to a scarcity mindset. They discuss the importance of processing the loss of a "financial partner" and the stages of undoing the experience with a poor one. Ben emphasizes the need for a grieving period before making any irrevocable financial decisions and shares his approach to helping clients start fresh with a new financial plan tailored to their individual goals.

Questions we answer in this episode:

• How does divorce impact your financial psychology?
• What are the stages of undoing the experience with a poor financial partner?
• How can you rebuild your financial life after divorce?

Key Takeaways:

• Allow yourself time to grieve the loss of your financial partner before making major financial decisions.
• Start fresh with a new financial plan that aligns with your individual goals and values.
• Seek support from a financial planner or therapist to help navigate the emotional aspects of money post-divorce.

This episode offers valuable insights for anyone navigating the financial and emotional challenges of divorce. Seth, Pete, and Ben provide practical advice and reassurance that with time, support, and a fresh perspective, it's possible to rebuild a healthy relationship with money and move forward with confidence.

Plus, we answer a listener question!

Links & Notes

• Find Ben and Illuminate Wealth Management on the web, Instagram, LinkedIn, and Facebook
• Schedule a call with Ben
• The Trance of Scarcity by Victoria Castle
• Schedule a consult with Seth
• Got a question you want to ask on the show? Click here!

• (00:00) - Welcome to How to Split a Toaster