Divorce is one of life’s most significant transitions. Along with the emotional impact, it often brings major financial decisions that can feel overwhelming—particularly if you’re approaching retirement or have already retired.
While the future may look different to what you once imagined, it doesn’t mean your financial future can’t still be secure.
“Divorce is one of life’s biggest transitions, and it’s completely understandable to feel uncertain about what comes next,” says Christine Swanson, Owner and Financial Adviser at Prominent Financial Services.
“While you can’t change what’s happened, you can take control of what happens next. Having a clear financial plan can help replace uncertainty with confidence and allow you to move forward knowing you’re making informed decisions.”
The good news is that you don’t have to navigate this journey alone.
Financial Confidence Starts with Understanding Your Position
One of the first steps after separation is understanding exactly where you stand financially.
If your finances were previously managed jointly, now is the time to develop a clear picture of your own financial position, including: Income and expenses, Superannuation, Investments, Property ownership, Debts and liabilities, Insurance, and estate planning documents.
Having this clarity makes it much easier to make informed decisions about your next chapter.
This is particularly important because today’s financial environment is becoming increasingly complex. Recent research shows Australians are placing greater value on clarity, reassurance and confidence when making financial decisions, not simply investment performance.
Dividing Assets Isn’t Just About Today
Property and superannuation are often the two largest assets that need to be considered during a divorce.
While reaching a fair settlement is important, it’s equally important to understand how today’s decisions may affect your future retirement lifestyle.
For example:
- Should the family home be sold?
- Is downsizing an option?
- Would retaining more super be more beneficial than retaining other assets?
- How will today’s settlement affect your retirement income?
These are significant decisions that deserve careful consideration before agreements are finalised.
A New Financial Plan for a New Chapter
One of the biggest mistakes people make after divorce is continuing with the same financial strategy, they had before.
Your goals, lifestyle and priorities have likely changed, and your financial plan should change too.
This is an ideal time to review: Your retirement goals, Investment strategy, Cashflow, Tax position, Estate planning, Insurance, Beneficiary nominations, Powers of Attorney, and your Will.
Taking the time to review these areas can provide greater certainty and help ensure your financial decisions continue to support the life you now want to create.
Protect Yourself Financially
There are also practical steps that shouldn’t be overlooked.
These may include:
- Opening your own bank account
- Closing or freezing joint accounts
- Updating direct debits
- Reviewing mortgage arrangements
- Changing passwords
- Updating insurance policies
- Reviewing super beneficiary nominations
- Updating your Will and Powers of Attorney
While these tasks may feel overwhelming, completing them can provide peace of mind and greater financial security moving forward.
What About Retirement?
For many Australians, divorce raises one of the biggest financial questions of all:
“Can I still afford the retirement I had planned?”
The answer will be different for everyone.
According to the latest ASFA Retirement Standard, homeowners aged 65–84 require around $54,840 per year for a single person or $77,375 for a couple to enjoy a comfortable retirement lifestyle.
If your financial circumstances have changed significantly, your retirement strategy may need adjusting.
That doesn’t necessarily mean giving up on your retirement dreams.
It may simply mean reviewing your investments, changing your retirement timing, reconsidering your spending plans or exploring additional income opportunities.
With the right advice, many people discover they have more options than they first imagined.
Case Study: Sarah’s Story
(Names and circumstances have been changed for privacy.)
At 58, Sarah never imagined she’d be starting again.
Following the breakdown of her 30-year marriage, she suddenly found herself making decisions about selling the family home, dividing superannuation and wondering whether retirement was still achievable.
“I wasn’t just worried about money,” she said.
“I felt completely overwhelmed. I didn’t know what I owned, what I needed or where to begin.”
Working with a financial adviser helped Sarah:
- understand her new financial position
- review her retirement strategy
- update her estate planning
- restructure her investments
- develop a realistic plan for the future.
Today, Sarah says the biggest difference isn’t simply her finances.
“It’s knowing I have a plan and someone helping me make good decisions. That gave me my confidence back.”
You Don’t Have to Navigate This Alone
Research continues to show the value of professional financial advice during periods of uncertainty.
People who receive ongoing financial advice report significantly higher satisfaction with their financial situation (86% compared with 55% for those without ongoing advice) and are more likely to feel retirement is achievable.
Financial advice isn’t simply about investments.
It’s about helping you make informed decisions during life’s biggest transitions.
Final Thought
Divorce may mark the end of one chapter, but it also creates the opportunity to build another.
While the path forward may feel uncertain today, taking small, considered steps can help restore confidence and create a strong foundation for the future.
“We’ve supported many clients through significant life transitions, including separation and divorce,” says Christine Swanson.
“Our role isn’t simply to provide financial advice—it’s to help people feel supported while making some of life’s most important decisions. We take the time to understand your circumstances, answer your questions and help you move forward with confidence.”
If you’re navigating separation or divorce and would like guidance on what comes next financially, the team at Prominent Financial Services is here to help.
Together, we’ll help you make smart financial decisions that support your goals and provide confidence for the future.
Prominent Financial Services — Where Smart Financial Decisions Start.
Sources
- MoneySmart Australia – Financial checklist after separation (referenced from original source article).
- Generation Life, 2025/26 Navigating Uncertainty Report.
- ASFA Retirement Standard – December Quarter 2025.
