Recalibrating Finances After Divorce
With approximately 25,000 divorces in South Africa annually, navigating the transition requires more than emotional resilience—it requires a strategic financial reset.
Maintenance Cover
What happens if the payer dies or becomes disabled? Insurance on the payer’s life can be written into the divorce agreement to ensure monthly income for children continues, protecting the single parent from financial risk.
Pension Payouts
Spouses are often entitled to a portion of pension funds. Avoid the “default portfolio” trap; a 2% difference in annual growth can result in significantly lower savings over 20–30 years.
Starting Over: Your New Roadmap
Moving to a single income while managing the costs of a divorce requires a complete financial overhaul. A Certified Financial Planner (CFP®) ensures that:
- Risk Cover: There is enough protection to look after the children’s future.
- Medical Aid: The correct health and gap covers are active for the new household structure.
- Beneficiaries: Your pension fund and life policies are updated to reflect your current wishes.
- Long-term Goals: Retirement needs are reassessed and prioritized against short-term cashflow issues.
Overcoming Decision Fatigue
Divorce is exhausting, but neglecting the financial side can have lifelong repercussions. You don’t have to do this alone—professional guidance helps you make wise decisions when you need them most.
Get your finances back on track.
Kenny Meiring MBA CFP®
Independent Financial Adviser | 082 856 0348
