Divorced and bereaved women should seek both financial and emotional advice, according to one chartered financial planner who has written a book on the issue.
A third of women live alone by the time they reach retirement age, and London-based financial planner Jo Read claims that more and more of her female clients were turning to her for financial – and emotional - advice later in life.
“The majority of my clients are typically women who have become suddenly single through divorce or bereavement,” said Read.
“Many of these women have found their world turned upside down, and for the first time are having to cope on their own.
“Many will have relied on their husbands or partners to manage the family finances, and now are left in a situation where they are unaware of what to do, and how to plan for their future.”
After becoming single herself, Read decided to write a book for other women who were being forced to deal with their own financial wellbeing for the first time.
The book, titled ‘Suddenly Single’, aims to help divorced or bereaved women to forge their own financial path, following a three-stage process: take stock, take charge, and take off.
“What I was finding was that they were not only looking for financial advice, but also emotional support, someone to talk to, and work through what had happened to them,” added Read.
“It wasn’t until this process was complete that they were able to move on with their life.
“I’ve created this book to help many more women work through this process I take my clients through; I’ve been there, and know that it was one of the most difficult periods of my life. It can seem so overwhelming; your whole world has been turned upside down. With my unique position as a female Chartered Financial Planner (there’s not many of us!) and being Suddenly Single, I wanted to use this experience to help the increasing numbers of women finding themselves in this situation.”
Read has also created an online community where single women can gather, share experiences and get practical advice and hints and tips.
