In the third part of our Special Report on Money and Divorce, Hann Liew, the CEO of RinggitPlus, shares his thoughts on managing money wisely when you're newly single, perhaps with children to support.
Q: What would you recommend women to invest in post-divorce?
A: Before you start investing, you must first ask yourself these questions:
- What is your goal for this investment?
- If it’s for retirement, how much money will you need to retire?
- If it’s for your children’s education, how much do you need?
A couple of things which are less monetary in nature but definitely worth mentioning are:
- Investing in yourself and your skills. Unless you have a huge investment capital amount already, if you’re in or re-entering the workforce post divorce, the returns you get from investing in yourself will generally dwarf those from capital.
- Investing time in your children’s happiness. Many studies have proven that positive home and parental environments are a bigger indicator of children’s success than even formal education.