Post-Divorce Fianancial Tune Up

[Anonymous]

I had to pay a settlement and alimony to my spouse, so I lost a chunk of my retirement and savings. I'm 33 yo and have no children. What would you do with these finances after divorce? How much should I save every month? Should I sell the rental property?

Starting again with this:

Annual income: $110,000
IRA and 401k: $80,000
Savings Acct (Emergency): $30,000
Rental income monthly: $2400

Expenses -
Primary mortgage monthly : $1700
Rental property mortgage monthly : $1500
Clothes and personal monthly: $250
Groceries and gas monthly: $800
Bills monthly, including student loans: $700

[Anonymous]

You seem to have a lot of expenses. What can you cut back? Is alimony a monthly expense? You did not list it.

[Anonymous]

I think I'm cutting back a lot already. I cut my own hair! It's just a buzz cut. But I'm not sure what else I can trim. Alimony was a one-time payment, thank god.

[Anonymous]

The food expenses seem high for one person, do you eat out a lot?

[Anonymous]

Be thank full you you got a good lawyer ans she did not take you for everything!

[Anonymous]

Anonymous wrote:The food expenses seem high for one person, do you eat out a lot?

No I hardly eat out at all but I'm a wannabe chef and buy good ingredients and cook amazing meals. I could cut back, but what's the fun in that?

[Anonymous]

Anonymous wrote:

Anonymous wrote:The food expenses seem high for one person, do you eat out a lot?

No I hardly eat out at all but I'm a wannabe chef and buy good ingredients and cook amazing meals. I could cut back, but what's the fun in that?

I'd date you.

[Anonymous]

If you want professional help, look for a fee-only financial planner who is a certified divorce specialist. Very knowledgeable.