In this episode, Paula speaks with Rachael Burns from True Wealth about dealing with the challenges of divorce and losing a spouse. Rachael, who specializes in helping women through life transitions, explains how she found her niche after working with large financial firms like Merrill Lynch and Morgan Stanley.
Rachael’s expertise lies in supporting women who have faced significant life changes, such as the death of a spouse or divorce. She emphasizes the importance of empowering women to take control of their finances, especially in situations where they may not have been financially empowered before.
They discuss the critical role of knowledge in these situations, advising listeners to gather as much information about their finances as possible, even before contemplating divorce. Rachael explains that knowing your financial situation can help alleviate the fear of the unknown and make informed decisions during challenging times.
They address the emotional aspect of these transitions and the difficulties of making rational decisions while dealing with grief. Rachael offers practical advice, suggesting that individuals focus on urgent matters, seek professional help, and consider therapy to manage the emotional aspects separately from financial decisions.
One key point is avoiding common mistakes, such as taking advice from biased sources or making impulsive financial decisions during moments of vulnerability. Rachael shares examples of widowed individuals spending large sums of money without considering long-term financial sustainability.
The podcast emphasizes the importance of being aware of your financial situation regardless of marital status, and Rachael stresses the significance of planning for unexpected life events. They encourage listeners to reach out to financial professionals for guidance and highlight the positive impact of proactive financial planning.
In closing, Paula and Rachael emphasize that life can be unpredictable, and while difficult circumstances may arise, being financially prepared can help mitigate the impact and secure a more stable future.
Find Rachael at https://trueworthfp.com/
Find Paula Christine at PaulaChristine.com or via email at paula@paulachristine.com.