Blog | Personal Finance

Will Divorce Bring You Happiness and Financial Freedom?

the online game that increases your financial iq - play now

Only if you have this knowledge…

A recent survey by Spectrem Group reports that, “62% of divorced women with at least $1 million in net worth say they are better off financially and 77% say they are much better off emotionally since the divorce.” Of these millionaires, 73% say they became “knowledgeable or very knowledgeable about investments” after their divorces.

These women do not fall into the 21.5% of divorced women who live in poverty reported by the latest, U.S. Census Bureau statistics. But it’s not because they were already rich when they got a divorce. No. These results support the point I’ve been making in my book It’s Rising Time! and in my previous blog post, What is Financial Freedom?

Rich people who do not have a financial education lose their money quickly.

When you rely on others to take care of your finances, what are you going to do if and when that support goes away? Just look at Nicole Murphy, the ex-wife of actor Eddie Murphy. She spent her $15-million divorce settlement in less than four years.

Whether you are married, single, divorced or widowed, you must get a financial education in order to control your wealth and your life. And I’m sure you have excuses. I’ve heard them all including the most popular:

“I don’t have time.“

Well, make time. Get up earlier, stay up later, turn off the television, study during a lunch break, but do whatever it takes. This is your future we’re talking about, and it’s important.

“I’m not smart enough.”

Stop thinking that way. In a recent study quoted in The Wall Street Journal article, “Flummoxed by Failure – or Focused?” by Ken Bain, psychologists at Columbia and Stanford indicate “it’s not about being smart. The key to getting past unsuccessful moments is a flexible view of learning.”

Most of us think we are stuck with the amount of intelligence we are born with due to IQ tests, our culture and environment, teachers, parents, and more. But this just isn’t true. Your mind can continue to grow if you want it to. Per the researchers quoted in the article, “when failures accumulate, those who believe they can improve their basic abilities are far more likely to weather the storm.”

Guess what? Your excuse that you aren’t smart enough won’t work.

“I can’t do this alone.”

That excuse won’t work either – You don’t have to increase your financial IQ by yourself! That’s why we created the Rich Woman Community. There are thousands of women all over the world who feel the same way you do right now.

Utilize what is available to you and talk to them, get help from mentors and coaches, share insights, tips and inspiration, and more. (Trust me. You can do this. I had nothing and lived in my car for a while, and now I’m financially free. You are not alone.)

Start Your Journey to Financial Freedom Now!

What are you waiting for? The global economy is a roller coaster and you can’t rely on anyone else to reach your goals of financial freedom.

Stop the excuses. You can find the time to get a financial education, and you have the intelligence to do it. We are here for you and want to help you succeed. Women, It’s Rising Time! What are you going to do about it today?

To start your journey to financial freedom, check out our free, financial education resources here.

Original publish date: August 23, 2012

Recent Posts

Three Investment Values
Personal Finance

The Rich Dad Guide to Investing Values: Defining Your Path to Financial Success

It’s important to know which core values are most important to you, especially when it comes to the subject of money and financial planning.

Read the full post
Risky vs. Safe Investments
Paper Assets

Smart Investing: Understanding the Difference Between Risky and Safe Options

What you may think is a “safe” investment, I may see as risky. For example, many financial planners advise their clients to get into so-called “safe” investments — such as savings plans, mutual funds and 401(k)s.

Read the full post
Mastering Money
Paper Assets, Personal Finance

Mastering Money: The Key to Achieving Financial Freedom

Begin the path to making money work for you today, not the other way around.

Read the full post