Episode 50: What to do before, during, and after a divorce

Keywords
financial independence, financial coaching, divorce finance, prenuptial agreements, financial literacy, budgeting, debt management, financial planning, investment strategies, personal finance

Summary
In this episode of Financial Progress, hosts Chrissy and Jess welcome financial coach Alfredo Matos, who shares his journey from a middle-class upbringing in Puerto Rico to achieving coast financial independence. Alfredo discusses the importance of financial education, teamwork in managing finances, and the challenges faced during significant life changes such as marriage and divorce. He emphasizes the need for awareness and communication about finances in relationships, the potential benefits of prenuptial agreements, and the necessity of taking action in financial planning. The conversation concludes with Alfredo's key advice on the importance of taking action to achieve financial goals.

Takeaways

• Alfredo Matos grew up in a middle-class family in Puerto Rico.
• He achieved coast financial independence through teamwork with his wife and financial education.
• Understanding coast financial independence means having enough assets for retirement without needing to contribute further.
• Communication about finances is crucial in relationships, especially before marriage.
• Being aware of each partner's financial situation can prevent issues during a divorce.
• Prenuptial agreements can protect individuals with significant assets but may introduce mistrust.
• Taking action is essential for financial success; knowledge alone is not enough.
• Financial literacy is important, but practical application is key to achieving results.
• Investing in a bridge account can provide flexibility in retirement planning.
• Planning for financial health post-divorce is critical for stability.

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