Women in transition face many unique financial hurdles, from divorce to selling the family home.
CATHY WAS 60 YEARS OLD when her husband left her for another woman. It seemed a fate too cruel to be true. She'd dedicated her entire adult life to her family, only working briefly as a teacher once the kids were grown. And now, after 33 years of marriage, she was alone.
When she came to Sonya Ranker, a certified divorce financial analyst and certified financial planner at Questmont Strategic Wealth Advisors, Cathy broke down crying in the middle of their meeting. Like so many women going through major life transitions, she struggled to come to grips with the new turn her life had taken.
"Women have this idea in their mind of what their life is and what it'll look like in the future, and whether it's divorce or becoming widowed, that vision has been shattered," Ranker says. "Their life is no longer what they thought it was going to be. Now they have to mourn for that life while starting fresh on the new one."
The financial industry has given these women – women whose lives have been upended by events often beyond their control – a name: They call them "women in transition." And mourning the loss of their former life is only the start of the challenges women in transition face.
money.usnews.com
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