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Considering divorce? How to avoid getting poorer in the process

17 October 2019 2:43 PM
Personal finance expert Warren Ingram warns that divorce almost always destroys wealth. Here’s how to not lose your money.

Divorce is potentially catastrophic for your finances.

The whole process - particularly when hostile - is usually hellishly expensive.

The huge emotional impact of a divorce invariably makes for terrible financial choices.

Divorce is one of the most financially damaging events that happen to people.

Did you know?

  • The average age of divorcees in South Africa is 38 for women and 42 for men.

  • Most divorces in South Africa occur between the fifth and ninth year of marriage.

The Money Show’s Bruce Whitfield asked personal finance expert (Galileo Capital) Warren Ingram for pointers on how to do it right.

For his detailed advice, listen to the interview in the audio below (or scroll down for quotes from it).

Divorce makes you poorer than you were.

Warren Ingram, Personal Financial Advisor - Galileo Capital

The non-breadwinning partner must make sure what the divorce pay-out means every month.

Warren Ingram, Personal Financial Advisor - Galileo Capital

Don’t make any large financial commitments for at least a year after your divorce.

Warren Ingram, Personal Financial Advisor - Galileo Capital

Whenever you have war; both parties lose.

Warren Ingram, Personal Financial Advisor - Galileo Capital

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17 October 2019 2:43 PM

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